Today, the gold‑silver ratio has risen to 70.34:1. Gold trades near $4,080 per ounce while silver is about $58 per ounce. The rise reflects strong safe‑haven demand for gold and steady industrial demand for silver.
In June 2026, the ratio hovered around 67:1 when gold was $4,000–$4,060 and silver $60–$61. It climbed from 55:1 in May and from the January low of 50:1, showing a clear upward trend.
The Gold‑Silver Ratio, or GSR, is a long‑standing metric. It shows how many ounces of silver are needed to buy one ounce of gold, calculated by dividing gold price by silver price.
Analysts say a ratio of 70 means one ounce of gold costs about 70 ounces of silver. A higher ratio indicates silver is cheaper, while a lower ratio suggests gold is cheaper.
Nirpendra Yadav, Sr. Research Analyst, notes that the ratio is near its long‑term average but silver remains slightly undervalued if industrial demand stays strong. He adds that silver is more volatile than gold and can swing widely.
Silver prices in India have stayed above Rs 2 lakh per kilogram since December 2025. By July 29, 2026, MCX silver traded above Rs 2,17,800 per 10 grams.
Yadav believes silver has rallied significantly this year but still lags gold on a relative basis, keeping the ratio high. He points to potential upside if the Fed eases policy, the dollar weakens, demand remains strong, and investment inflows return.
The analyst projects the ratio will stay in the 65‑75 range for the near term as markets weigh Fed policy and global growth. For conservative investors, gold offers stability and protection; for aggressive investors, silver offers higher upside potential. A balanced allocation is recommended, with gold overweight for safety and silver added gradually for growth.