Peter Brandt Says Gold-Silver Ratio Could Challenge an All-Time High

Peter Brandt said the gold-silver ratio could challenge an all-time high, describing a possible shift in gold's performance relative to silver rather than a forecast for either metal on its own.

In an X post, Brandt tagged gold and silver futures. He did not give a target level or say when a move might happen.

The gold-silver ratio expresses gold’s per-ounce price in terms of silver. It rises when gold advances faster than silver, when silver declines faster than gold, or when both happen. The measure shows the metals' relative performance; by itself, it does not show whether either price is rising or falling.

Silver has historically been more volatile than gold, and the ratio has tended to rise in bear markets.