Gold 4,029.50 −0.47% Silver 54.71 −0.64% WTI 99.18 −0.29% Brent 113.03 −0.12% Natural Gas 2.78 −0.43% Copper 6.51 +0.06% Platinum 1,572.00 −0.36% Bitcoin 81,244 −3.34%

Commodity Markets: Ratios & Spreads

Ratios between commodities show relative value. Track the gold-to-silver ratio, the Brent–WTI spread and how many barrels of oil an ounce of gold buys.

Gold / silver ratio

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Calculated from daily closes of front-month futures.

Gold / silver ratio73.7Ounces of silver needed to buy one ounce of gold. A high ratio means silver is cheap relative to gold.

Brent – WTI spread$13.85Premium of the international benchmark over the US one, per barrel.

Gold / WTI40.6Barrels of WTI that one ounce of gold buys at current prices.

How to read these ratios

Planning around data releases? See the economic calendar.

Gold/silver. Silver is more volatile and more industrial than gold. The ratio tends to rise in risk-off periods, when silver falls faster than gold, and fall when industrial demand and speculation lift silver.

Brent–WTI. The spread reflects transport costs, export capacity and regional supply. A wide spread can signal tight global supply versus ample US inventories.

Gold/WTI. A rough measure of purchasing power: how much crude a unit of gold can buy. It rises when oil falls relative to gold.

Ratios are informational and not trading signals. See the methodology.

Live prices

Gold$4,029.50−0.47% Silver$54.708−0.64% Platinum$1,572.00−0.36% Palladium$1,077.00−0.39% Copper$6.5136+0.06% WTI Crude$99.18−0.29% Brent Crude$113.03−0.12% Natural Gas$2.784−0.43% Bitcoin$81,244−3.34%