Chart: Gold/Silver Ratio

The Gold/Silver Ratio Chart

The Gold/Silver Ratio expresses the price relationship between gold and silver. The chart shows the quantity of ounces of silver in US dollars (USD) needed to purchase one ounce of gold in US dollars (USD) since 1983. A high ratio indicates that gold is relatively expensive in terms of silver and vice versa.

Analysis of the Gold/Silver Ratio Chart

The Gold/Silver Ratio usually rises during an economic slowdown, reflecting the relative weakness of cyclical commodities like silver versus gold. March 2020 is a good example of this and also marks the all-time high of the Gold/Silver Ratio of 124. The lows of around 32 were recorded in both 1983 and 2011.

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