Gold/silver ratio, measured
One ounce of gold buys 74.5 ounces of silver (gold $4,012.87, silver $53.90, 26 Oct 2026, 20:20 UTC). In the last five years the ratio has ranged from 46.2 to 104.8, averaging 81.1; today's level is higher than 19% of the days since 29 Oct 2021. Calculated from broker minute data at the close of each trading day.
Gold/silver ratio since 2021
Weekly values (last trading day of each week). Dashed line - five-year average 81.1; orange dot - high (21 Apr 2025), green dot - low (27 Jan 2026). A rising line means gold is gaining on silver.
What the ratio says
The gold/silver ratio is the simplest relative-value measure between the two metals: it falls when silver rises faster than gold and rises when silver lags or gold leads. Over the five years of our data it has swung from 46.2 (on 27 Jan 2026, gold $5,181, silver $112.08) to 104.8 (on 21 Apr 2025, gold $3,425, silver $32.67) - silver, a much smaller and more volatile market, moves further than gold in both directions.
Traders read a high ratio as "silver is cheap against gold" and a low one as the opposite, but the ratio can stay at an extreme for years and the correction can come from either metal. This page measures the ratio; it does not predict it, and it is not a signal.
Year by year
| Year | Trading days | Average | Low | High | Last close of the year |
|---|---|---|---|---|---|
| 2021 | 45 | 77.5 | 73.8 | 80.9 | 78.6 |
| 2022 | 258 | 83.3 | 75.2 | 95.4 | 76.2 |
| 2023 | 257 | 83.3 | 76.7 | 91.3 | 86.8 |
| 2024 | 259 | 84.8 | 73.2 | 91.7 | 90.8 |
| 2025 | 258 | 87.9 | 56.9 | 104.8 | 60.3 |
| 2026 | 211 | 63.6 | 46.2 | 74.4 | 74.4 |
Years are partial at both ends; the last row is the latest trading day, not a year-end.
The last 10 trading days
| Trading day | Gold | Silver | Ratio |
|---|---|---|---|
| 26 Oct 2026 | 4,012.44 | 53.91 | 74.4 |
| 23 Oct 2026 | 3,996.06 | 53.91 | 74.1 |
| 22 Oct 2026 | 4,025.23 | 54.59 | 73.7 |
| 21 Oct 2026 | 4,140.82 | 57.95 | 71.5 |
| 20 Oct 2026 | 4,124.97 | 57.98 | 71.1 |
| 19 Oct 2026 | 4,140.64 | 57.10 | 72.5 |
| 16 Oct 2026 | 4,165.15 | 56.98 | 73.1 |
| 15 Oct 2026 | 4,170.17 | 57.39 | 72.7 |
| 14 Oct 2026 | 4,104.65 | 55.62 | 73.8 |
| 13 Oct 2026 | 4,160.58 | 59.16 | 70.3 |
How we measure
- Gold and silver minute bars (bid) from the same broker feed we record, from 27 October 2021. The ratio is the gold close divided by the silver close of each trading day (from 6 pm New York time); days that are not complete for both metals are left out.
- "Now" is the median gold price divided by the median silver price across the broker feeds we record, refreshed every 10 minutes; when the market is closed we show the last close.
- Silver is quoted per troy ounce, like gold. Prices are broker prices, not licensed benchmarks such as the LBMA fixings.
Questions
What is the gold/silver ratio?
The price of gold divided by the price of silver: how many ounces of silver it takes to buy one ounce of gold. A high ratio means silver is cheap relative to gold, a low ratio the opposite. Traders use it as a gauge of relative value; it does not say where either metal will go.
What is the gold/silver ratio today?
About 74.5: one ounce of gold buys 74.5 ounces of silver (gold $4,012.87, silver $53.90). Over the last five years it has ranged from 46.2 to 104.8, averaging 81.1.
When was the gold/silver ratio highest and lowest in the last five years?
Highest 104.8 on 21 Apr 2025 (gold $3,425, silver $32.67); lowest 46.2 on 27 Jan 2026 (gold $5,181, silver $112.08).
Does a high gold/silver ratio mean silver will outperform?
Not by itself. The ratio can stay high or low for years, and a move back can come from either metal. XAU Meter measures the ratio; it does not forecast it.
Page data last updated: · Measured and edited by Adrian Troy · How we measure