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Ounce Gram
Gold £971.48 £31.234
Silver £12.515 £0.4024

Updated 07:42 16/01/18

£ $

Gold Silver Ratio


Put simply the gold : silver ratio represents the number of silver ounces it takes to purchase one ounce of gold. For example if gold was trading at £767.82 and silver was priced at £12.26, the gold : silver ratio would stand 62.62. Throughout history the ratio has fluctuated widely.

  • In 1991 the ratio peaked at 100
  • At the peak of the last precious boom in 1980 the ratio had narrowed to 17
  • At the end of the 19 th century the ratio was fixed at 15
  • During the Roman Empire the ratio was fixed at 12
  • 323 B.C. at the time of Alexander the Greats death the ratio stood at 12.5

Many investors in silver believe the ratio should stand at 16:1, primarily because there is 16 times more silver in the Earth’s crust than gold. To reach this ratio with gold, the silver price would need to hit approximately £47.98 per ounce.

Many argue that the ratio could fall further because only 9 times more silver is currently being mined globally than gold. Others point to the fact there is 160,000 tonnes of gold above ground whilst most of the silver ever mined has been used up in industrial processes.

View the gold : silver ratio and the silver : gold ratio.

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