Macro Commodity Valuation Ratios
Cross-commodity ratios compare relative prices across matching years. Definitions and coverage follow the underlying annual datasets.
The ratio expresses how many troy ounces of silver have the same value as one troy ounce of gold, using annual USGS observations. Calculated from the displayed nominal series for years available in both datasets. Missing years and nonpositive denominator prices are excluded. The mean gives each matched year equal weight.
Gold-to-Oil Ratio
50.8The ratio expresses how many barrels of WTI have the same value as one troy ounce of gold, using the displayed gold and oil observations. Calculated from the displayed nominal series for years available in both datasets. Missing years and nonpositive denominator prices are excluded. The mean gives each matched year equal weight.