The gold to silver ratio is a key indicator in the world of precious metals, showing how many ounces of silver it takes to purchase one ounce of gold. For investors, traders, and enthusiasts monitoring precious metal prices, this ratio offers insight into market trends and the shifting value between these two enduring assets.
In this post, we’ll explore the gold to silver ratio chart over the last five years, analyse historical trends, and answer the age-old question: is silver worth more than gold?
What Is the Gold to Silver Ratio?
The gold to silver ratio is calculated by dividing the current price of gold by the price of silver.
Example: If gold is £2,000 per ounce and silver is £25, the ratio is 80. This means it takes 80 ounces of silver to buy one ounce of gold.
This ratio is one of the most closely watched silver vs gold indicators in the commodities market.
Gold to Silver Ratio Trends: 2020–2025
Over the past five years, global events have significantly influenced gold and silver prices charts.
2020: Record High Ratio
- The ratio peaked at around 120:1 during the early COVID-19 market crash.
- Investors flocked to gold as a safe haven, creating a sharp price gap.
2021–2022: Rebalancing Phase
- Silver prices rebounded.
- The ratio dropped closer to 70:1, reflecting increased industrial demand for silver.
2023: Economic Uncertainty and Inflation
- Ongoing inflation and central bank movements affected both silver vs gold price fluctuations.
- The ratio stabilised around 80:1.
2024–2025: Renewed Interest in Precious Metals
- With growing concern over fiat currencies, interest in tangible assets like gold and silver surged.
- The gold silver ratio today (mid-2025) fluctuates between 75:1 and 85:1, depending on the market week.
Gold and Silver Prices Charts (2020–2025 Overview)
Here is a simplified summary of precious metal prices over the past five years:
| Year | Gold Price (Avg/oz) | Silver Price (Avg/oz) | Gold to Silver Ratio |
|---|---|---|---|
| 2020 | £1,770 | £20.50 | ~86:1 |
| 2021 | £1,800 | £25.10 | ~72:1 |
| 2022 | £1,790 | £21.50 | ~83:1 |
| 2023 | £1,920 | £23.60 | ~81:1 |
| 2024 | £2,050 | £26.00 | ~79:1 |
| 2025* | £2,200 | £28.00 | ~79:1 (YTD) |
*Note: 2025 values are approximate and based on mid-year data.
Silver vs Gold: Which Is the Better Investment?
The question “is silver worth more than gold?” doesn’t have a simple answer. In terms of price per ounce, gold is far more valuable. However, silver often outperforms gold in bullish markets due to its industrial applications and lower cost of entry for new investors.
When comparing silver vs gold, consider the following:
- Volatility (silver tends to be more volatile)
- Industrial vs monetary usage
- Affordability for smaller investors
- The current position on the gold to silver ratio chart
Many investors monitor the ratio closely—buying silver when it is high (e.g., 80:1 or more) and shifting to gold when it falls (e.g., 40:1).
The gold silver ratio today remains a vital tool for understanding the evolving dynamics between these two precious metals. Over the past five years, the ratio has mirrored global economic events, inflation, and changes in investor confidence.
Whether you’re examining gold and silver prices charts, adjusting your investment strategy, or simply learning more about the market, tracking this ratio offers valuable insight into the broader world of precious metal prices.
