LAST UPDATED
Spot Ratio (XAU / XAG)Live Gold to Silver Ratio
Number of troy ounces of physical silver required to purchase one troy ounce of gold
66.54
-0.84 (-1.25%)
Spot Gold (XAU)$4286.20
Spot Silver (XAG)$64.42
20-Year Mean~65.50
Valuation SignalFair Range
UNDERSTANDING THE RATIO
What Does the Gold/Silver Ratio Mean?
The gold-to-silver ratio measures the relative value of the two oldest monetary metals. In antiquity and under the Roman Empire, the legal ratio was set near 12:1. In the modern floating fiat era (since 1971), the ratio has fluctuated between 30:1 (during the 1980 and 2011 precious metals peaks) and over 120:1 (during the March 2020 liquidity event).
Because physical gold and silver generally move in the same macro direction but silver exhibits higher beta and industrial sensitivity, extreme ratio divergences create predictable rebalancing opportunities.
PORTFOLIO STRATEGY
How Bullion Investors Trade the Ratio
When Ratio is High (> 80:1):Investors swap gold for silver or overweight silver accumulation, anticipating silver will outperform as the ratio compresses back to its historical average.
When Ratio is Low (< 50:1):Investors swap silver profits into physical gold, locking in gains into the more conservative monetary store of value.