Gold Silver Ratio Calculator
Calculate the gold-to-silver ratio from spot prices, see how many ounces of silver one ounce of gold buys, how much silver your gold would swap for, and where the ratio sits versus its modern range.
How it works
Gold-to-silver ratio = gold price per ounce ÷ silver price per ounce · silver ounces for your gold = gold ounces × ratio · silver price at ratio R = gold price ÷ R
The gold-to-silver ratio says how many ounces of silver it takes to buy one ounce of gold. Precious-metal investors use it to judge which metal is relatively cheap: a high ratio means silver is cheap compared with gold, a low ratio the opposite, and some swap between the metals when the ratio reaches an extreme. Both prices must be in the same unit and currency. The ratio was fixed near 15–16 under 19th-century bimetallic standards and has floated since; it has spent most of the time since 2000 between about 50 and 80, with spikes above 100 in 1991 and 2020.
Worked example
With gold at 2,400 and silver at 30 per troy ounce the ratio is 2,400 ÷ 30 = 80.00, so one ounce of gold buys 80.00 ounces of silver. If the ratio fell back to 60 with gold unchanged, silver would be 40.00 an ounce.
Sources: Wikipedia — Gold–silver ratio · LBMA — Precious metal prices
Frequently asked questions
What is a good gold-to-silver ratio?
There is no fixed “right” level. Many investors treat readings above about 80 as silver being cheap and below about 50 as gold being cheap, based on the range since 2000.
What is the historical average gold silver ratio?
It depends on the period: around 15–16 when governments fixed it in the 1800s, roughly 47 on average over the 20th century, and closer to 60–70 since 2000.
How do traders use the ratio?
Some swap gold for silver when the ratio is high and back when it is low, aiming to grow the ounces they hold rather than their cash value. It is a relative-value signal, not a price forecast.
Does the ratio use troy ounces?
Yes. Gold and silver spot prices are quoted per troy ounce (31.1035 g); the ratio is the same in any unit as long as both prices use it.
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Educational estimate, not investment, trading or tax advice. Brokers, issuers and data providers use their own conventions, fees and figures — confirm with your broker, the issuer’s documents or a licensed adviser before acting.