Gold/Silver Ratio Since 1960
In September 2026 one ounce of gold bought 66.9 ounces of silver (monthly averages: gold $4,319 an ounce, silver $64.6 per troy oz). That is close to its long-run norm: higher than in 64% of months since 1960, against an average of 55.4. The record is 111 in April 2020; the low 16.4 in June 1968.
Ounces of silver per ounce of gold
Jan 1960–Sep 2026 · monthlyBy Decade
Average ounces of silver per ounce of gold in each decade.
| Decade | Average | vs today |
|---|---|---|
| 1960s | 28.2 | +137% |
| 1970s | 31.6 | +111% |
| 1980s | 52.7 | +27% |
| 1990s | 73.6 | −9% |
| 2000s | 61.5 | +9% |
| 2010s | 67.5 | −1% |
| 2020s to date | 81.0 | −17% |
Last 12 Months
World Bank monthly average prices and the ratio.
| Month | Gold | Silver | Gold buys |
|---|---|---|---|
| Sep 2026 | 4,319 | 64.6 | 66.9 |
| Aug 2026 | 4,411 | 65.4 | 67.4 |
| Jul 2026 | 4,073 | 58.8 | 69.3 |
| Jun 2026 | 4,228 | 66.7 | 63.4 |
| May 2026 | 4,587 | 78.0 | 58.8 |
| Apr 2026 | 4,721 | 75.9 | 62.2 |
| Mar 2026 | 4,856 | 77.9 | 62.3 |
| Feb 2026 | 5,020 | 81.9 | 61.3 |
| Jan 2026 | 4,753 | 92.1 | 51.6 |
| Dec 2025 | 4,309 | 62.3 | 69.2 |
| Nov 2025 | 4,087 | 50.4 | 81.1 |
| Oct 2025 | 4,058 | 49.4 | 82.1 |
Year by year since 1960 (yearly averages)
| Year | Gold buys (average) |
|---|---|
| 2026 (9 months) | 62.6 |
| 2025 | 88.1 |
| 2024 | 84.7 |
| 2023 | 83.1 |
| 2022 | 83.1 |
| 2021 | 71.8 |
| 2020 | 88.8 |
| 2019 | 85.9 |
| 2018 | 80.9 |
| 2017 | 73.8 |
| 2016 | 73.2 |
| 2015 | 73.9 |
| 2014 | 66.7 |
| 2013 | 59.7 |
| 2012 | 53.8 |
| 2011 | 45.0 |
| 2010 | 62.0 |
| 2009 | 67.0 |
| 2008 | 60.4 |
| 2007 | 52.1 |
| 2006 | 52.7 |
| 2005 | 61.0 |
| 2004 | 61.7 |
| 2003 | 74.6 |
| 2002 | 67.6 |
| 2001 | 61.8 |
| 2000 | 56.3 |
| 1999 | 53.4 |
| 1998 | 53.4 |
| 1997 | 67.9 |
| 1996 | 74.7 |
| 1995 | 74.0 |
| 1994 | 72.8 |
| 1993 | 83.9 |
| 1992 | 86.9 |
| 1991 | 89.8 |
| 1990 | 79.6 |
| 1989 | 69.3 |
| 1988 | 67.1 |
| 1987 | 64.5 |
| 1986 | 67.7 |
| 1985 | 51.9 |
| 1984 | 44.5 |
| 1983 | 37.4 |
| 1982 | 47.9 |
| 1981 | 44.4 |
| 1980 | 32.0 |
| 1979 | 29.7 |
| 1978 | 35.6 |
| 1977 | 31.9 |
| 1976 | 28.6 |
| 1975 | 36.6 |
| 1974 | 34.2 |
| 1973 | 38.2 |
| 1972 | 34.5 |
| 1971 | 26.9 |
| 1970 | 20.3 |
| 1969 | 22.9 |
| 1968 | 18.1 |
| 1967 | 23.2 |
| 1966 | 26.9 |
| 1965 | 26.9 |
| 1964 | 26.9 |
| 1963 | 27.1 |
| 1962 | 32.8 |
| 1961 | 38.6 |
| 1960 | 38.9 |
Gold/Silver Ratio: FAQ
What is the gold/silver ratio today?
In September 2026 one ounce of gold bought 66.9 ounces of silver, using World Bank monthly average prices. A year earlier it bought 85.7, ten years earlier 68.4.
What is the long-run average?
Since January 1960 the average is 55.4 ounces of silver per ounce of gold and the median 56.6. The latest figure is higher than in 64% of months.
When did gold buy the most silver?
In April 2020, at 111 ounces of silver. The least was 16.4 in June 1968.
Does a high ratio mean gold is overvalued?
Not necessarily. The ratio shows the price of gold relative to silver, and both prices have their own supply and demand. Over the decades the ratio has swung above and below its average, but there is no fixed level it must return to, and extremes can last for years.
Gold against other commodities
Source: World Bank Commodity Price Data (The Pink Sheet), monthly average prices in US dollars (file updated October 02, 2026), licensed CC BY 4.0. Ratios, averages, percentiles and decade figures are Corgano's calculations from those monthly averages. Gold was fixed at $35 an ounce until 1968–1971, so changes before then reflect the other commodity's price.
Daily gold/silver ratio since 1968: gold/silver ratio history.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026goldsilverratiosince1960, author = {{Corgano}}, title = {Gold/Silver Ratio Since 1960}, howpublished = {\url{https://goldprice.corgano.com/gold-vs-commodities/silver}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-26}}