Guide
The gold-to-silver ratio.
The gold-to-silver ratio is how many ounces of silver one ounce of gold buys. Right now it's 74.1: gold at $3,942 divided by silver at $50.10 (Kitco bids).
Updated October 28, 2026 · Prices as of November 2, 2026, 6:20 p.m. Pacific
What the ratio tells you
A high ratio means silver is cheap compared with gold; a low one means it's expensive. Since 2000, using monthly closes, the ratio has averaged 69, with a high of 113 in April 2020 and a low of 32 in April 2011.
The ratio was once set by law: the Coinage Act of 1792 fixed it at 15 to 1 for U.S. coins. Today gold and silver trade freely, and the ratio swings widely.
The ratio by year
| Year | Average | High | Low |
|---|---|---|---|
| 2026 (to date) | 66.9 | 74.1 | 60.6 |
| 2025 | 86.7 | 102.0 | 61.9 |
| 2024 | 85.6 | 90.7 | 76.7 |
| 2023 | 82.9 | 87.6 | 79.3 |
| 2022 | 84.0 | 97.2 | 76.5 |
| 2021 | 71.8 | 79.8 | 65.5 |
| 2020 | 87.2 | 113.0 | 69.6 |
| 2019 | 86.2 | 92.4 | 82.4 |
| 2018 | 81.6 | 86.6 | 77.7 |
| 2017 | 74.1 | 77.7 | 68.0 |
| 2016 | 73.2 | 82.8 | 66.4 |
| 2015 | 74.8 | 77.6 | 71.3 |
| 2014 | 68.4 | 76.1 | 62.3 |
| 2013 | 60.1 | 66.9 | 53.0 |
| 2012 | 53.4 | 58.1 | 49.4 |
| 2011 | 45.5 | 56.2 | 32.0 |
| 2010 | 60.9 | 67.8 | 46.0 |
| 2009 | 66.6 | 73.8 | 60.6 |
| 2008 | 61.6 | 80.1 | 49.1 |
| 2007 | 52.4 | 56.4 | 47.5 |
| 2006 | 51.8 | 57.8 | 46.5 |
| 2005 | 61.2 | 64.0 | 58.6 |
| 2004 | 61.6 | 68.0 | 53.8 |
| 2003 | 74.4 | 80.5 | 69.2 |
| 2002 | 67.5 | 71.8 | 64.9 |
| 2001 | 62.1 | 66.4 | 55.4 |
| 2000 (from September) | 57.7 | 59.3 | 55.8 |
Computed from monthly closes of New York (COMEX) gold and silver futures. Data: Yahoo Finance.
How people use it
Some investors switch between the metals when the ratio looks extreme, trading gold for silver when the ratio is high and back when it's low. Nothing here is investment advice, and the ratio can stay high or low for years. If you're selling, each metal is paid at its own price: see our bids.
Sources
- Coinage Act of April 2, 1792, text via the Library of Economics and Liberty.
- Yahoo Finance, COMEX gold (GC=F) and silver (SI=F) futures, monthly data.
Metal prices: Gold price history · Silver price history · Gold-to-silver ratio · Why is gold going up? · Why is silver going up? · Live spot prices · All guides
We pay top dollar for silver, at published rates set before you sell.
Our bids
See what we pay today.
Our percentages are published, so you can check them against the live Kitco bid before you ever contact us.