Gold/Silver Ratio - 86.1
Current Market Snapshot
As of 2025-07-14:
- Gold Fixing Price: 3,351.15 per ounce*
- Silver Fixing Price: 39.00 per ounce**
- Gold/Silver Ratio: 86.10, which is above the 20-year mean of 69.92.
This means it currently takes 86.10 ounces of silver to buy one ounce of gold. The ratio has recently fallen, indicating that silver is outperforming the other. This shift reflects evolving investor sentiment, macroeconomic uncertainty, and changing demand across industrial and monetary uses.
* For gold, prices are set twice daily from LBMA (London Bullion Market Association). We take the average of the gold fixing price at 10:30 and 15:00 each day as the Gold Fixing Price. All the below-mentioned gold prices are the average fixing price.
** For silver, the price is set daily from LBMA (London Bullion Market Association) at 12:00 noon London time. All the below-mentioned silver price is the fixing price.
What Is the Gold/Silver Ratio — and Why It Matters
The Gold/Silver Ratio is a key indicator used to measure the relative value of gold to silver. It is calculated by dividing the current latest gold fixing price by the silver fixing price.
Why It’s Important:
- Relative Valuation: It can identify the relative value between two metals.
- Market Sentiment: The ratio tends to rise during periods of crisis when people buy more gold for safety and fall during economic recovery.
- Timing Tool: Investors use this ratio to shift allocations between gold and silver for potential long-term gain opportunities.
- Historical Mean Reversion: Over time, the ratio usually moves back toward its long-term average of around 58.83. When the ratio gets too high or too low, it may signal a good time to take action.
Gold/Silver Ratio
Gold/Silver Ratio – Long-Term Historical Trend
As of 2025-07-14, the Gold/Silver Ratio stands at 86.1, which is above its long-term historical range. Over the past 20 years, the gold/silver ratio has reached a high of 123.07 in 2020-03-19 and a low of 31.48 in 2011-04-28. The average (mean) ratio during this period is approximately 69.92 with a standard deviation (σ) of about 14.25, placing the gold/silver ratio 1σ range between 55.67 and 84.17.
As of 2025-07-14, the Gold/Silver Ratio is trading above the +1σ level, suggesting that gold is relative to silver from a historical perspective. Historically, when the ratio deviates beyond this range, it tends to revert toward the mean, presenting potential opportunities for investors.
Gold Price
Gold Fixing Price Analysis
Over the past 20 years, gold fixing prices have increased significantly. The latest gold fixing price is approximately $3351.15 per ounce, compared to a 20-year average of around $1407.34. With a standard deviation of about $534.36, the typical price range falls between $872.98 and $1,941.70 per ounce. As of 2025-07-14, the price is well above the upper 1 std range , indicating that gold is trading at a statistically higher than usual level.
Silver Price
Silver Fixing Price Analysis
Over the past 20 years, silver fixing prices have increased significantly. The latest silver fixing price is approximately $38.995 per ounce, compared to a 20-year average of around $20.28. With a standard deviation of about $7.09, the typical price range falls between $13.19 and $27.37 per ounce. As of 2025-07-14, the price is well above the upper 1 std range , indicating that silver is trading at a statistically higher than usual level.
Gold Price Performance (USD)
| Time Period | Change | Return (%) |
|---|
Silver Price Performance (USD)
| Time Period | Change | Return (%) |
|---|
Over the past 20 years, gold has risen by +2,926.85, a positive change of +689.81%. This reflects a strong long-term gain. In the last 5 years, gold has risen by +85.98%. More recently, gold has gained +39.23% over the past year. And +25.65% in the last 6 months. In the past 30 days, gold decreased by -2.45%.
Over the past 20 years, silver has risen by +32.01, a positive change of +458.27%. This reflects a strong long-term gain. In the last 5 years, silver has risen by +106.38%. More recently, silver has gained +26.94% over the past year. And +31.14% in the last 6 months. In the past 30 days, silver increased by +8.09%.
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
