Silver
Gold's industrial cousin — half safe-haven, half cyclical. The gold/silver ratio is the classic macro tell.
Previous close $72.732/oz
Chart — coming soon
1-month, 3-month, 1-year sparklines land in the next update — along with 52-week high / low stats and YTD performance.
The 30-second take
Silver is harder to frame than gold because it's both a monetary metal and an industrial input — roughly 50% of demand comes from solar panels, electronics, and EVs. The gold/silver ratio is what to quote: historically 60-80x, above ~85x silver is cheap relative to gold (risk-off regime), below ~60x silver is rich (late-cycle inflation trade). When silver outperforms gold, that's usually a cyclical upswing signal. When it lags, haven demand is driving gold and silver's industrial side is weighing it down.
Historical reference points
Bankers instinctively contextualise today's level against these moments. Each row shows how far the current level is above / below that reference.
- 2011 Hunt-era peakApr 2011$49.00/oz+51.05%
- 2020 COVID lowMar 2020$12.00/oz+516.78%
- 2020 rebound peakAug 2020$29.00/oz+155.22%
- 2024 breakoutOct 2024$34.00/oz+117.69%
Compare against
Master the whole framework
The live numbers are one leg. Read the lesson for the four things to always know, plus the full interview script.
Discussing Markets — read the lesson →