The gold to silver ratio is gold's price divided by silver's. We worked it out at the last close of each trading day (16:44 New York on Fridays, when the metal files stop), for the 130 days with full prices for both metals. It started at 60.36 on 27 March and finished at 66.83 on 25 September; a higher ratio means gold was dearer against silver.
How the ratio moved
Until the end of April the ratio stayed between 58.52 and 64.07. It then fell to its low of 49.34 on 13 May, climbed to 70.43 on 17 July, and from 1 August to the end of the sample stayed between 62.67 and 68.17. The average across all 130 days was 63.41.
Because the ratio divides one price by the other, it moves when either metal does. In this sample its low came on the day silver traded at its highest price, $98.28 on 13 May, and its high on the day silver traded at its lowest, $55.91 on 17 July. The ratio says how the two metals stood against each other on a given day; it does not say which way either goes next. Six months is a short window, and silver's longer history is not in our data; gold's, since 1960, is in gold price history.
Silver moved about twice as far as gold
| Daily range and contract | Gold | Silver |
|---|---|---|
| Average daily range, % of price | 2.39% | 4.67% |
| Median daily range, % of price | 2.17% | 4.18% |
| Median daily range, pips | 985.8 | 281.1 |
| Median daily range, price | $98.58 | $2.81 |
| One pip, in price | $0.10 | $0.01 |
| Standard lot, ounces | 100 | 5,000 |
| One pip on 1.00 lot | $10 | $50 |
| One pip on 0.01 lots | $0.10 | $0.50 |
On an average day silver's range was 4.67% of its price, against 2.39% for gold. On the median day it was 4.18% against 2.17%. In pips the two cannot be compared directly, because the pip is a different size: $0.01 of price on silver and $0.10 on gold.
The contract differs too. A standard lot of silver is 5,000 ounces, so one pip on 1.00 lot is 5,000 × $0.01 = $50, five times the $10 a pip on a 100-ounce gold lot. At 0.01 lots that is $0.50 a pip on silver and $0.10 on gold.
A silver trade sized at the same lots as a gold trade carries five times the money per pip, so size it from its own stop. The pip value calculator and the lot size calculator both handle silver. Your broker's contract size is in MT5 under Market Watch: right-click the silver symbol and choose Specification. If it is not 5,000, scale the pip value with it.
When silver moved
Silver kept the same clock as gold. Its widest hours by median range were 14:00 UK at 91.8 pips, 15:00 at 82.7 and 02:00 at 77.3, the same three as gold's, and its quietest were 21:00 at 30.2, 05:00 at 32.5 and 23:00 at 33.1. Gold's hour-by-hour figures set out that clock in full.
Daily changes in the two metals had a correlation of +0.80 over 129 daily changes, the closest of any two markets we measured. That matters if you trade both: a gold buy and a silver buy open together are close to one position, as gold and the US dollar explains.
The results page carries our closed gold and forex signals. For the rest of silver's figures from the same sample, see XAG/USD, and for gold's, XAU/USD.
Where the numbers come from
One-minute prices: GetData free sample, MIT licence, 26 March to 25 September 2026, grouped into trading days of 17:00 to 17:00 New York time, each labelled by the date it ends. Gold and silver both have 130 full trading days; 26 March, cut short by the start of the sample, and Good Friday, 3 April, are left out. The first minute after each weekend, daily break or other pause of more than five minutes is left out of highs and lows, because its opening price is carried over from before the pause; the ratio uses closing prices, which are not affected.
Ranges are high minus low, % of price is the day's range over the previous day's close, typical values are medians and averages are labelled. Hours are UK clock hours, on British Summer Time from 29 March. Pip sizes and contract sizes are the ones our calculators use. The method is on the markets page.
Every closed signal is on the record
The results page lists each closed VIP signal with its entry, stop, targets and outcome, stops included.
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