Gold vs Silver Price Chart — 25 Years of Data Compared
Gold and silver are the two most traded precious metals, yet they follow distinctly different patterns. These interactive charts plot 25 years of monthly data, revealing how the two metals correlate — and where they diverge.
Gold — 25-Year Chart
Gold Spot Price (USD/oz)
Monthly closeGold rose from ~$280 in 2000 to $2,700+ in 2025 — a gain of over 860%.
Silver — 25-Year Chart
Silver Spot Price (USD/oz)
Monthly closeSilver moved from ~$5 in 2000 to ~$33 in 2025, with violent spikes in 2011 ($49) and volatile swings throughout.
Gold-Silver Ratio Over Time
The gold-silver ratio shows how many ounces of silver equal one ounce of gold. Key levels:
| Date | Event | Ratio | Meaning |
|---|---|---|---|
| 2000 | Dot-com era | 57 | Near historical average |
| 2003 | Iraq war buildup | 80 | Silver lagging gold |
| 2006 | Commodity super-cycle | 46 | Silver catching up |
| Apr 2011 | Silver near $50 | 32 | Silver extremely expensive vs gold |
| 2016 | Post-mining crash | 83 | Silver deeply undervalued |
| Mar 2020 | COVID crash | 125 | All-time record — extreme fear favored gold |
| 2021 | Reddit silver squeeze | 63 | Brief reversion |
| 2025 | Current | ~85 | Silver cheap relative to gold |
Current Gold-Silver Ratio
64.33
Historical average: ~60 | Above 80 = silver is cheap relative to gold
Side-by-Side Performance
| Period | Gold | Silver | Winner |
|---|---|---|---|
| 2000–2005 | +84% | +60% | Gold |
| 2005–2011 | +280% | +585% | Silver |
| 2011–2015 | -33% | -68% | Gold |
| 2015–2020 | +79% | +56% | Gold |
| 2020–2025 | +77% | +85% | Silver |
| Full 25 years | +860% | +560% | Gold |
Key finding: Silver outperforms gold during explosive bull runs (2005–2011, 2020–2025) but underperforms in every other period. Over the full 25 years, gold's steadier gains win.
Key Divergence Periods
When Lehman Brothers collapsed, gold dropped 25% but silver crashed 55%. In pure panic, investors sell silver (industrial metal) and buy gold (safe haven). Gold recovered to new highs by 2009; silver took until 2011.
Silver surged from $17 to $49 (a 185% gain) while gold went from $1,100 to $1,900 (73%). Silver's smaller market and speculative momentum created a blow-off top that hasn't been revisited since.
The gold-silver ratio hit an all-time 125 as silver crashed to $11 while gold held $1,500. Over the next 12 months, silver outperformed gold 2:1 as the ratio normalized — a textbook ratio-trading opportunity.
What the Charts Tell Us
Both metals trend together
Gold and silver have a correlation of ~0.85 over 25 years. They move in the same direction most of the time.
Silver amplifies gold
Silver rises faster in bull markets and falls harder in bear markets. It's gold with leverage built in.
The ratio is mean-reverting
After extremes (32 in 2011, 125 in 2020), the ratio trends back toward 60–70. Extreme readings are trading opportunities.
Gold is more reliable
Over any 5-year period in the last 25 years, gold was positive more often than silver. For stability, gold wins.
For a deeper comparison, read our Gold vs Silver Investment Guide. Track both metals live on the prices page, or check yearly performance in the Gold Annual Returns article.