Gold to Silver Ratio Today
66.3 oz of silver per oz of gold
Gold $4,291.00/oz · Silver $64.69/oz
Gold spot $4,291.00/oz · updated
Quick answer: The gold-to-silver ratio is 66.3 as of September 23, 2026. It takes about 66.3 ounces of silver to buy one ounce of gold. The ratio is simply the gold price ($4,291.00) divided by the silver price ($64.69). Over the past half-century it has swung from below 20 to above 120.
Gold-to-silver ratio over time
Ounces of silver needed to buy one ounce of gold, from gold and silver futures closes on matching dates.
Data sources: Spot price via api.gold-api.com · COMEX futures (GC=F) via Yahoo Finance. Prices are for informational purposes only and may be delayed. Figures on this page were generated . Gold-to-silver ratio is quoted in US dollars per troy ounce.
What the ratio measures
The ratio expresses gold's price in ounces of silver instead of dollars. That strips out the currency. When the dollar falls, both metals usually rise in dollar terms, and the ratio shows whether one is rising faster than the other.
- A rising ratio means gold is outperforming silver: gold gains more, or falls less.
- A falling ratio means silver is outperforming gold.
Because silver's market is much smaller than gold's and roughly half of silver demand is industrial (electronics, solar panels, medical and chemical uses), silver tends to move more than gold in both directions. As a result the ratio usually rises in financial stress, when gold holds up better, and falls in strong, inflationary or industrial booms, when silver catches up quickly.
History and extremes
When governments set it. For centuries the ratio was fixed by law. The US Coinage Act of 1792 set it at 15 to 1, and France's 1803 standard used 15.5 to 1. Those official ratios broke down in the late 19th century, as major silver discoveries flooded the market and one country after another moved to a gold standard. Silver's price collapsed relative to gold, and the fixed ratio never returned.
Since prices were freed. In the market era, the ratio has ranged widely:
- 1980: below 20. Both metals spiked, silver even harder than gold during the Hunt brothers' attempt to corner the silver market.
- 1991: near 100. Silver had fallen far more than gold in the long bear market after 1980.
- April 2011: about 32. Silver briefly approached $50 an ounce, its 1980 high, during the commodity boom.
- March 2020: above 120, a modern record. In the pandemic panic, silver crashed while gold held up.
- Today: 66.3.
Over recent decades the ratio has spent much of its time between about 50 and 90. People often call the middle of that band "normal", but the long history shows how far it can travel and for how long.
How people use the ratio, and its limits
Relative value. Some holders of physical metal use the ratio to decide which metal to add to. When the ratio is historically high they tilt toward silver, and when it's low, toward gold. A few go further and "trade the ratio": swapping one metal for the other at extremes, so that the number of ounces they hold grows when the ratio reverses.
The honest caveats:
- There's no law that pulls the ratio back to an average. The fixed 15:1 of the 1800s is gone for good, and the ratio has stayed far from any "average" for many years at a stretch.
- Every swap costs money. Premiums and spreads on physical metal, especially silver, can take a large bite out of any gain from switching. Silver's premiums and storage costs per dollar of value are much higher than gold's.
- It says nothing about direction. A falling ratio can happen with both metals falling, as long as gold falls faster. It's a relative measure, not a forecast for either price.
Treat the ratio as context about how the two metals compare, not as a signal to act on.
The silver side of the ratio
The ratio has two halves, and this site covers the gold one. For the silver price itself, including silver per ounce, per gram and per kilo, and melt values for coins and sterling, our sister site Silver Value Chart tracks the silver side with its own daily price refresh. (It's run by the same publisher. We mention it because it's the most direct way to see the other half of this number.)
Worked example: what the ratio means in practice
Suppose you own one one-ounce gold coin, worth $4,291.00 in gold today. At a ratio of 66.3, the same money buys about 66.3 ounces of silver at spot.
If the ratio later fell to 50 with gold unchanged, silver would have risen to one-fiftieth of the gold price, and those silver ounces would be worth noticeably more than the gold coin. If the ratio instead rose to 100, they'd be worth less. That asymmetry is the whole idea behind using the ratio. It's also why the premiums you pay to switch matter so much, since they come off the top of any gain.
Related pages
Gold price history · Gold price all-time high · Gold price per ounce · Gold bullion price chart
FAQ
What is the gold-silver ratio today?
66.3 as of September 23, 2026. That's gold at $4,291.00 divided by silver at $64.69.
What is a "normal" gold-silver ratio?
There isn't a fixed normal. In recent decades it has mostly ranged between about 50 and 90, but it has been below 20 and above 120.
What does a high gold-silver ratio mean?
Silver is cheap relative to gold by historical standards, often because of economic stress or weak industrial demand. It doesn't guarantee silver will outperform.
What was the highest gold-silver ratio ever?
In modern markets, above 120, in March 2020.
Why did the ratio used to be 15 to 1?
Governments fixed it by law when both metals were used as money. The fixed ratio ended as silver supply grew and countries adopted the gold standard.
How does this site calculate the ratio?
The headline ratio divides the gold spot price by the silver spot price, both captured at the same scheduled update. The ratio chart divides gold and silver futures closes on matching dates, so the two can differ slightly.
Data sources: Spot price via api.gold-api.com · COMEX futures (GC=F) via Yahoo Finance. Prices are for informational purposes only and may be delayed. Figures on this page were generated . Gold is quoted in US dollars per troy ounce.