Silver’s outperformance of gold is gaining momentum: The gold-to-silver ratio is down to 54, the 2nd-lowest since February 2023. This ratio has fallen -9 points over the last 6 trading days, with silver outperforming gold for 6 consecutive sessions, the longest streak since December 2025. Over this period, silver prices have surged +20%, to $87 per ounce, the highest since March 11th, while gold prices have increased just +3%, to $4,690 per ounce. The ratio is now down -51 points, or -49%, since the April 2025 peak of 105 points. By comparison, the ratio briefly touched 43 points, the lowest level in 15 years, in January 2026, after silver prices surpassed $120 per ounce for the first time in history. Keep watching precious metals.