An ounce of gold is now worth more than 100 times an ounce of silver, a rare imbalance only seen twice over the past century — and analysts say it’s flashing a buy signal for silver.
In 2025, gold has emerged as the undisputed leader among global asset classes, soaring to new heights while silver remains notably behind, widening a gap that few expect to last.
Prices of the yellow metal — tracked by the SPDR Gold Trust (NYSE:GLD) — surged to $3,500 per ounce this week, notching fresh all-time highs and delivering nearly 30% in year-to-date gains.
Silver, on the other hand, has lagged well behind. The iShares Silver Trust (NYSE:SLV) hovered at $33.50 per ounce, still 33% below its 2011 peak of $50.
Despite the stark divergence, analysts say this imbalance is the exception, not the rule. Most expect the gold-to-silver ratio to revert sharply, implying silver is primed to outperform in the next leg of the precious metals rally.
Could Silver Stage A Remarkable Comeback?
Goldmoney.com founder James Turk wrote on social media X that a gold-to-silver ratio of 100 is an anomaly and typically marks the beginning of silver’s comeback.
“A level of 100 is a rare occurrence in historical context, after which the ratio falls quickly because money floods into silver during bank crises. Silver hasn’t lost …