Gold–silver ratio calculator
Calculate the relative reference value of gold and silver from aligned prices.
Quick answer: Divide the gold price by the silver price, both per troy ounce and in the same currency. At $3,000 gold and $30 silver, the ratio is 100: one ounce of gold matches 100 ounces of silver.
Explore the numbers.
Calculate to update this worksheet from your inputs.
Scenario chart
Scenarios change one input while holding the others constant. They are calculations, not observed market prices or forecasts.
Detailed calculation table
The table contains the same inputs used for your result. Values are rounded for display; CSV preserves more precision.
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Compare reference value and exchange costs
How to use this calculator
- Enter aligned gold and silver prices per troy ounce in the same currency.
- Enter the gold weight you want to compare.
- Add a gold selling discount and silver buying premium to estimate the silver weight obtainable under those assumptions.
Gold at 3,000 and silver at 30 give a reference ratio of 100:1. Selling gold at a 2% discount and buying silver at a 5% premium reduces the equivalent to about 93.33 silver ounces per gold ounce.
Reference ratio versus transaction ratio
The headline ratio is simply gold divided by silver. It expresses relative reference values. The estimated silver obtainable also deducts your gold selling discount and adds your silver buying premium, so it can be lower than the frictionless equivalent.
Align the inputs before dividing
Combining daily gold with monthly silver produces an inconsistent comparison. The same issue arises when one metal is quoted per gram and the other per ounce. The historical ratio chart on this site aligns the two series by date and frequency; the calculator uses the values you supply.
Read the sensitivity chart
The worksheet keeps gold fixed and varies silver across the selected percentage range. A lower silver price produces a higher ratio. These are arithmetic scenarios, not a suggested trading range, target ratio or claim that the relationship will revert to an average.
Questions about this calculation
Does changing the currency change the ratio?
An identical conversion rate applied to both prices cancels out. Different rates or conversion times can create an artificial difference.
Can I exchange at the displayed ratio?
Not necessarily. A real transaction depends on executable buy and sell offers, product premiums, fees and other costs.
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All calculators →Explore gold prices, silver prices, the historical gold–silver ratio and our data methodology.