Silver to Gold Ratio Slides to 12-Year Low as Precious Metals Show Divergent Moves

The silver to gold ratio has reached its lowest point since February 2014, reflecting a significant shift in the precious metals market. Currently trading at 61.60, this ratio has declined 1.2% over the past session and is down more than 32% year-to-date, signaling a dramatic repricing of the two metals relative to each other.

Silver’s Record Run Outpaces Gold

Spot silver has been the clear outperformer in recent trading. On Friday, silver prices surged sharply, breaking through the psychological barrier of $73 per ounce to establish a new all-time high. The white metal is currently hovering near $73.7/oz, marking its strongest performance in recent history. This explosive rally in silver has been the primary driver reshaping the silver to gold ratio to these extreme lows.

Meanwhile, spot gold has managed to recapture ground above the $4,500/oz level, posting a modest daily gain of approximately 0.5%. While gold remains supported, the pace of silver’s ascent has far outstripped the yellow metal’s recovery, creating the widest gap between the two in over a decade.

What This Silver to Gold Ratio Tells Us

The compression of the silver to gold ratio to 12-year lows reflects a powerful reallocation of investor interest toward silver. The 32% year-to-date decline in this ratio suggests that silver has become increasingly attractive relative to gold, driven by both industrial demand recovery and investment flows. This dynamic has important implications for portfolio allocators and those tracking precious metals divergence as market conditions evolve.