Gold-Silver Ratio Holds Near Record Low as Silver Stays Near $66
The gold-silver ratio has remained near its narrowest levels of the past week, despite the Federal Reserve's first interest-rate increase since 2023. Silver is holding close to $66 an ounce while gold continues to struggle below $4,400.
At 12:10 p.m. ET on September 22, spot silver was trading at $65.68 an ounce, down 0.5% on the day, while spot gold was down 0.4% at $4,325.03, according to Reuters. The gold-silver ratio is around 65.8.
TD Securities global head of commodity strategy Bart Melek told Reuters that markets were continuing to price further Federal Reserve tightening while recent dollar strength was also working against gold. Higher yields increase the opportunity cost of holding both metals, while a stronger dollar can make dollar-denominated bullion more expensive for overseas buyers.