Gold–Silver Ratio
How many ounces of silver one ounce of gold buys — live, and charted against every trading day since 1968 so you can see whether silver is cheap or dear.
The gold–silver ratio is 65.0 as of 4:45 PM ET on September 22, 2026: one troy ounce of gold at $4,358.38 buys 65.0 ounces of silver at $67.10.
- Average since 1968
- 59.1
- Median
- 61.6
- High · 2020-03-17
- 123.5
- Low · 1980-01-02
- 14.0
- Today’s percentile
- 56th
Today’s ratio sits in the middle of its historical range — the 56th percentile of all trading days since 1968.
1 oz gold ($4,358.38) = 64.96 oz silver at today’s ratio
Ratio history
Daily LBMA gold ÷ silver fixes, USD · 982 points shown.
Reading the ratio
The ratio is a relative-value gauge, not a price forecast. When it is high by historical standards, an ounce of gold buys an unusually large amount of silver, which is why some investors rotate gold into silver at extremes and back again when the ratio compresses. The all-time extremes — near 15 in January 1980 and above 120 in March 2020 — both marked moments of acute market stress.
How it’s calculated
Gold–silver ratio = gold price per troy oz ÷ silver price per troy oz, i.e. how many ounces of silver buy one ounce of gold.
Prices are live spot from Metals.dev; dealer bid and ask from Texas Precious Metals; crypto from CoinGecko. Every figure on this page is timestamped and nothing is estimated when a feed is unavailable.
Frequently asked questions
What is a normal gold–silver ratio?
Since 1968 it has averaged in the 50s–60s, ranging from about 15 in 1980 to above 120 in March 2020. The 20th-century average was roughly 47 and the geological crust ratio is about 17.
How do investors use the ratio?
A high ratio suggests silver is cheap relative to gold and some investors swap gold for silver; a low ratio suggests the reverse. It is a relative-value signal, not a forecast of either metal’s direction.
Why does the ratio swing so much?
Silver is a smaller, more industrial market, so it falls further in recessions and rises faster in booms, while gold behaves more like money. Ratio spikes usually mark moments of stress.
All calculations use live market prices and are estimates. Actual dealer prices, premiums and refining charges vary. Nothing on this page is investment advice.