Silver Swoon: Gold-Silver Ratio Hits 70.34 Amid Market Volatility

The gold-silver ratio has hit 70.34, indicating that silver is relatively cheaper compared to gold. This metric helps investors decide between the stability of gold and the industrial-linked growth potential of silver in the current market environment.

As of July 29, 2026, the gold-silver ratio has climbed to 70.34, up from lower levels earlier this year such as 55 in May and 50 in January. This suggests that silver has underperformed relative to gold in recent months.

Silver prices in the Indian market have remained steady above ₹2 lakh per kilogram since December 2025, with MCX data showing trading levels above ₹2,17,800 per kilogram as of July 29, 2026. Analysts indicate that if the U.S. Federal Reserve shifts toward easier monetary policy and global manufacturing activity strengthens, silver could see a resurgence.

Investors should be aware of the inherent differences in these assets. Silver is historically more volatile than gold, meaning its price can experience sharper swings in both directions. Market experts currently expect the ratio to fluctuate between 65 and 75 in the near term.