Live market data — 42 sources, all automated

Live Gold & Silver Prices, Charts & Data

Prices, macro drivers, COMEX & LBMA inventory, COT positioning, ETF flows and mining analytics. US-focused. Updated daily. $0/month to run. Use our gold mining stock screener or read the Gold & Silver 101 guide.

April 13, 2026 · 9:05 AM ET · Sources: GoldAPI, FRED, CME, CFTC, WGC, LBMA, Silver Institute

Gold — XAU/USD

$4,728.00

▼ −$20.90 (−0.44%)

ATH $5,602 · Jan 28, 2026

Silver — XAG/USD

$73.00

▲ +$0.15 (+0.21%)

ATH $121 · Jan 2026

Gold / Silver Ratio

64.8×

Long-run avg: 67×

Near historical average

10yr Real Yield (TIPS)

1.89%

FRED: DFII10

Primary gold price driver

Section A · GoldAPI.io + TradingView + MetalpriceAPI + freegoldapi.com

Gold Price Today & Silver Price Today — Live Spot Charts

Real-time spot prices refreshed every 60 seconds via Redis cache. Interactive charts via TradingView (zero backend). Historical data from freegoldapi.com — free, no API key, 768 years of data, auto-updated daily.

Gold Spot

$4,728

▼ −$20.90 today

Silver Spot

$73.00

▲ +$0.15 today

G/S Ratio

64.8×

Hist avg 67×

Silver in gold oz

0.0154

oz gold per oz silver

TradingView · OANDA:XAUUSD · Real-time

Gold (XAU/USD)

Full interactive — all timeframes, indicators, drawing tools

OANDA:XAUUSDTradingView advanced chart embeds herescript: tv.js · symbol: OANDA:XAUUSD · interval: D

Source: TradingView — OANDA:XAUUSD · LBMA/COMEX real-time data · Zero backend · Free embed

TradingView · OANDA:XAGUSD · Real-time

Silver (XAG/USD)

Full interactive — all timeframes

OANDA:XAGUSDTradingView advanced chart embeds herescript: tv.js · symbol: OANDA:XAGUSD · interval: D

Source: TradingView — OANDA:XAGUSD · Real-time · Zero backend · Free embed

Calculated: GoldAPI.io XAU÷XAG · Daily

Gold/Silver Ratio — 20 Years

Current 64.8× · 20yr avg 67× · 2020 peak 125×

Source: Calculated from GoldAPI.io XAU/XAG · Daily · Back to 2005 · 67× avg line shown

freegoldapi.com · No API key · Daily auto-update

Gold Price — Long-Term History

768 years of data available · Nominal USD per troy oz

Source: freegoldapi.com — https://freegoldapi.com/data/latest.json · CORS-enabled · No API key · Free forever · Daily 6am UTC auto-update

MetalpriceAPI.com · Daily cache · Free tier 100 req/mo

Gold Price in Major Currencies

USD, EUR, GBP, AUD, CAD, JPY, CHF, CNY · Updated daily 6am UTC

Source: MetalpriceAPI.com · /v1/latest?base=USD&currencies=XAU,EUR,GBP,AUD,CAD,JPY,CHF,CNY · Free tier 100 req/mo · Cache daily

db.nomics.world/LBMA · Daily AM/PM benchmark · NEW source

LBMA Gold Price Fix — AM & PM

Official London benchmark used by miners, central banks & institutions worldwide

Source: db.nomics.world/LBMA or freegoldapi.com · LBMA AM/PM fixing prices · Daily · Free · The benchmark that matters to institutions

TradingView · COMEX:SI1! · Silver futures · NEW

Silver Front Month Futures (COMEX:SI1!)

Backwardation (spot > futures) = physical shortage signal · Monitor contango/backwardation shifts · Key indicator in 2025–26 silver market

COMEX:SI1!TradingView — Silver front month futuresscript: tv.js · symbol: COMEX:SI1! · zero backend

Source: TradingView — COMEX:SI1! · Real-time futures · Zero backend · Backwardation = physical shortage signal · Critical given current silver market dynamics

Gold 52-wk High

$5,602

Jan 28, 2026 (ATH)

Gold 52-wk Low

$3,218

Apr 2025

Silver 52-wk High

$121

Jan 2026 (ATH)

Silver 52-wk Low

$28.80

Apr 2025

Gold YTD return

+18.4%

Jan 1 → Apr 13, 2026

Silver YTD return

+133.9%

Jan 1, 2025 → Apr 13, 2026

Gold vs S&P 500 YTD

+18.4% vs −8.2%

Gold outperforming in 2026

ATH pullback (gold)

−15.6%

From $5,602 peak

Calculated from GoldAPI.io spot price · Real-time · High search volume keyword

Gold Price Per Gram Today — All Units & Purities

At $4,728/oz spot · 1 troy oz = 31.1035 grams · Updated every 60 seconds

Per gram: $152.05
Unit24K (999 fine)22K (91.7%)21K (87.5%)18K (75%)14K (58.3%)10K (41.7%)
1 Troy Ounce$4,728.00$4,335.58$4,137.00$3,546.00$2,756.52$1,971.58
1 Gram$152.05$139.43$133.04$114.04$88.64$63.41
5 Grams$760.26$697.14$665.22$570.18$443.19$317.05
10 Grams$1,520.52$1,394.28$1,330.46$1,140.39$886.38$634.10
1 Kilogram$152,053$139,433$133,046$114,040$88,639$63,406
1 Tola (11.66g)$1,772.9$1,624.8$1,551.3$1,329.6$1,033.5$739.3
1 Tael (37.43g)$5,693.3$5,220.8$4,981.6$4,269.9$3,319.3$2,373.8

Source: GoldAPI.io spot price · Calculated: spot ÷ 31.1035 × purity factor · Updated every 60 seconds · For jewellery valuation only — not dealer buyback prices

Calculated from GoldAPI.io spot · Real-time

Silver Price Per Gram Today — All Units

At $73.00/oz spot · 1 troy oz = 31.1035 grams

Per gram: $2.35
Unit999 Fine (pure)925 Sterling900 Coin silver800 Continental
1 Troy Ounce$73.00$67.53$65.70$58.40
1 Gram$2.35$2.17$2.11$1.88
10 Grams$23.47$21.71$21.12$18.78
100 Grams$234.70$217.10$211.23$187.76
1 Kilogram$2,347$2,171$2,112$1,878
1 oz Silver Eagle (1 oz)$73.00 + premiumDealer premium typically $5–8/oz above spot

Source: GoldAPI.io spot price · Calculated: spot ÷ 31.1035 × purity factor · Updated every 60 seconds

Interactive tool · Calculated client-side · No API call needed

Gold & Silver Melt Value Calculator

Gold & Silver Price Calculator

Calculate the value of your gold or silver holdings by weight, unit and purity

No sign-up needed

Gold Calculator

Estimated value at $4,728/oz spot

$4,728.00

1 troy oz × 100% purity × $4,728/oz

Silver Calculator

Estimated value at $73.00/oz spot

$72.93

1 unit(s) × 99.9% purity × $73/oz

This calculator shows melt value only — the value of the metal content at spot price. Dealers typically pay 85–95% of melt value for scrap. Numismatic coins and certified bullion trade at premiums above melt value. Not financial advice.

Source: GoldAPI.io live spot price · Calculator runs client-side in your browser · No data sent to any server · Updated every 60 seconds

Section B · FRED API — all series free, same key, daily cron, 120 req/min

What Drives the Gold Price? Key Macro Indicators

Five FRED API series that explain the gold price. Completely free, no practical rate limits. All fetched in a single daily cron at 6am UTC. Store in Postgres, serve from DB. Register at fred.stlouisfed.org — takes 2 minutes, free forever.

Real Yield (DFII10)

1.89%

Headwind at current level

US Dollar (DXY)

99.84

Weakening — tailwind

CPI YoY (CPIAUCSL)

3.3%

Mar 2026 — elevated

Breakeven (T10YIE)

2.42%

Inflation expectations

FRED DFII10 + GoldAPI.io · Daily · Free

Gold vs Real Yields

Strongest single macro driver — inverse relationship

Headwind 1.89%

Source: FRED DFII10 (10yr TIPS real yield) + GoldAPI.io · Daily cron 6am UTC · Free

FRED DTWEXBGS + GoldAPI.io · Daily · Free

Gold vs US Dollar Index

Consistent negative correlation over decades

DXY weakening

Source: FRED DTWEXBGS (broad trade-weighted dollar) + GoldAPI.io · Daily · Free

FRED CPIAUCSL (units=pc1) + M2SL · Monthly

Inflation & Money Supply

CPI YoY % left axis + M2 money stock $tn right axis

Source: FRED CPIAUCSL + M2SL · Monthly · Free

FRED GFDEGDP · Quarterly · NEW — fiscal stress driver

US Federal Debt to GDP

Now above 120% — structural driver of central bank gold buying

120%+ record

Source: FRED GFDEGDP · Quarterly · Free

CME FedWatch · iframe embed · Real-time · Zero backend

Fed Rate Cut Probabilities (FedWatch)

Market-implied probability of Fed rate changes at each FOMC meeting

iframe only

CME FedWatch Tool

iframe src: https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

Zero backend · No API key · Free embed

Source: CME Group FedWatch · Real-time probabilities from Fed Funds futures

Calculated: FRED CPIAUCSL ÷ GoldAPI · Monthly

Gold Price — Real vs Nominal

Nominal price vs CPI-adjusted 2024 dollars

Source: GoldAPI.io (nominal) + FRED CPIAUCSL (CPI deflator)

WGC Goldhub · gold-performance · Monthly download

Gold Returns vs Major Asset Classes

1yr, 3yr, 5yr, 10yr annualised returns

Source: WGC Goldhub · gold.org/goldhub/data/gold-performance

WGC Goldhub · gold-performance dataset · Monthly download

Gold Performance vs Other Assets — Key Periods

Annualised returns in USD · As at April 13, 2026

Asset1 MonthYTD 20261 Year3 Year (ann.)5 Year (ann.)10 Year (ann.)
Gold (XAU/USD)+5.8%+18.4%+46.9%+38.2%+24.1%+12.8%
Silver (XAG/USD)−6.4%−14.2%+133.9%+58.4%+31.2%+10.4%
S&P 500 (SPY)−4.1%−8.2%−2.8%+8.4%+14.2%+11.6%
US Dollar (DXY)−3.1%−7.8%−9.4%−2.2%−1.4%+0.8%
Bitcoin (BTC)−11.4%−18.2%+24.8%+58.4%+44.2%+62.4%

Source: WGC Goldhub dataset + TradingView · Not financial advice

Why gold rose despite rising real yields (2022–2026)

The traditional gold-yield model broke down after 2022. Central bank buying (1,000+ tonnes/yr), geopolitical risk premiums from the US-Iran conflict, and US fiscal concerns (debt/GDP 120%+) overwhelmed the yield relationship. Gold has repriced as a strategic reserve asset outside the dollar system.

Section C · NEW — CME Group free daily XLS + LBMA monthly scrape · All automatable, $0/month

Physical Gold & Silver Market — COMEX Inventory & LBMA Vaults

COMEX warehouse inventory from CME Group (free daily XLS: cmegroup.com/delivery_reports/) and LBMA London vault holdings (monthly scrape). When registered stocks fall and paper leverage rises, physical supply stress increases. Nobody else shows these together for free.

CME Group · Gold_Stocks.xls · Daily free download · NEW

COMEX Gold Inventory

Registered (deliverable vs futures) + Eligible (stored, not earmarked) · Million troy oz

Well supplied

Registered gold ~33.2M oz (1,034t) after major London-to-NY inflow Jan–Feb 2026. Coverage ratio vs open interest: healthy. Download: cmegroup.com/delivery_reports/Gold_Stocks.xls

Source: CME Group · Daily free XLS · Parse registered + eligible cols with SheetJS

CME Group · Silver_Stocks.xls · Daily free download · NEW

COMEX Silver Inventory

Registered vs Eligible · Coverage ratio currently in stress territory

Stress territory

COMEX Silver Physical Stress Index

0 — Normal50 — Elevated100 — Extreme

Score: 62/100 — Coverage ratio 13.4% (stress < 15%) · Paper leverage 7.5× · Registered declining

Source: CME Group · Daily free XLS · Stress index calculation manual

LBMA · lbma.org.uk/prices-and-data/london-vault-data · Monthly scrape · NEW

LBMA London Vault Holdings

Gold + silver held in all London vaults incl. Bank of England · Published 5th business day monthly

🏦

Feb 2026: 9,210t gold (+0.56% MoM) & 27,065t silver (−2.4% MoM). The London-to-NY gold flow of Jan 2025 partially reversed as EFP premium normalized.

Source: LBMA · Monthly · Scrape page or download data CSV

CME Group · Delivery notices · Daily · NEW

COMEX Gold & Silver Delivery Notices

Physical vs cash settlement · Rising delivery = real demand signal · Spiked Jan 2026

Source: CME Group · cmegroup.com/solutions/clearing/operations-and-deliveries/nymex-delivery-notices.html

Calculated from CME Group + CFTC data · Daily

Paper vs Physical Coverage Summary

How many paper contracts exist vs physical metal available for immediate delivery

MetalRegistered (deliverable)Total inventoryOpen interestPaper claimsCoverage ratioSignal
Gold33.2M oz (1,034t)39.6M oz354,877 contracts35.5M oz93.5%Normal
Silver82.0M oz297M oz115,138 contracts575.7M oz13.4%Stress

Source: CME Group warehouse reports + CFTC open interest · Coverage = registered ÷ (open interest × contract size)

Section D · CFTC.gov · Socrata API · No key required · Weekly Friday 3:30pm EST

CFTC COT Report — Gold & Silver Futures Positioning

Weekly Commitment of Traders report from CFTC.gov. Free public government data, no API key needed. Released every Friday for Tuesday positions. Managed money = hedge funds + large speculators. The same API response includes commercial hedger data — extract both fields for no extra cost.

Gold net longs (mgd money)

156,305

contracts · Apr 7, 2026

Silver net longs (mgd money)

23,417

contracts · Apr 7, 2026

Gold open interest

354,877

total contracts

Silver open interest

115,138

total contracts

Net managed money longs
Gold price (right axis)

CFTC.gov · Socrata API · No API key

Managed Money Positioning — Gold

Net longs (bars) + gold price (line) · COMEX 100oz contracts

Source: CFTC Socrata API · Filter: GOLD · Weekly cron Friday 5pm EST

Net managed money longs
Silver price (right axis)

CFTC.gov · Same API call · Filter by silver · Weekly

Managed Money Positioning — Silver

Net longs (bars) + silver price (line) · COMEX 5000oz contracts

Source: CFTC Socrata API · Filter: SILVER · Same weekly cron · Free

CFTC.gov · Same dataset · comm_positions fields · zero extra API calls

Commercial Hedger Positioning — Gold (Producers & Miners)

Commercials = gold miners hedging production · Extreme net shorts historically precede rallies

Contrarian signal

Source: CFTC · comm_positions_long_all + comm_positions_short_all · Same weekly API call

📊

Reading COT: context and extremes matter most

When managed money net longs are at multi-year highs, the trade is crowded and vulnerable to reversal on any negative catalyst. At extreme lows (or net short), it often marks a bottom. Commercial hedgers who are extremely net short are locking in high prices — confirming their view that spot is elevated. Always compare to the 52-week range of both series, not the absolute number. Note: The Oct–Nov 2025 reporting gap (federal funding lapse) requires null handling in charting code.

Section E · World Gold Council Goldhub · Quarterly Excel downloads · Free

Gold Demand by Sector — Central Banks, Investment & Jewellery

WGC Goldhub is the authoritative source for global gold demand. Download quarterly Excel files, parse with SheetJS, store in Postgres. AISC production cost data (new) shows record mining margins in 2025–26 — critical context for mining analysis.

WGC Goldhub · gold-demand-by-country · Quarterly download

Gold Demand by Sector — Annual Trend

Jewellery / Investment / Central Banks / Technology · 2016–2024 · Tonnes

Source: WGC Goldhub · Quarterly Excel download · Parse with SheetJS

2024 sector split

Demand breakdown

Jewellery41%
Investment30%
Central Banks22%
Technology7%

Total 2024 demand

4,612t

2024 record · 2025: 5,000t+ incl. OTC · US demand doubled to 679t

AISC vs spot margin · NEW

+$3,378/oz

AISC ~$1,350/oz · Spot $4,728 · Record mining profit

WGC Goldhub · gold-etfs-holdings-and-flows · Weekly Monday

Gold ETF Flows by Region

Monthly net flows · N.America / Europe / Asia · USD billions

Source: WGC Goldhub · Weekly Excel · Parse Monday 9am UTC

WGC Goldhub · gold-reserves-by-country · Monthly + Annual

Net Central Bank Gold Purchases

Annual net tonnes · 3 consecutive years above 1,000t post-2022

Source: WGC Goldhub · Annual purchases series · Free

WGC Goldhub · Monthly · IMF COFER + WGC adjustments · As at Feb 2026

Official Gold Holdings by Country

Tonnes held + % of total reserves + 2024 net purchases

#CountryHoldings (t)Reserves %2024 net buyTrend (vs USA=100%)
1🇺🇸 USA8,13371%
2🇩🇪 Germany3,35369%
3🇮🇹 Italy2,45266%
4🇨🇳 China2,2645%+44t
5🇮🇳 India85310%+73t
6🇹🇷 Turkey59532%+75t
7🇵🇱 Poland42017%+90t

Source: WGC Goldhub · Monthly Excel · IMF COFER + WGC adjustments

Section F · Silver Institute annual seed data + iShares/SPDR daily CSV · All free

Silver Market Data — Supply Deficit, Industrial Demand & ETF Holdings

Silver Institute data pre-extracted and seeded in your database — update once per year in May. 5 consecutive supply deficits since 2021. Industrial demand hit record 680.5 Moz in 2024. GLD/SLV daily holdings from iShares and SPDR free CSVs are an institutional demand indicator.

2024 deficit

−147 Moz

5th consecutive year

Industrial demand 2024

680.5 Moz

4th consecutive record

Solar PV share

29%

of industrial demand

Mine production 2024

819.7 Moz

+0.9% year-over-year

Silver Institute · Annual seed data · Pre-extracted

Silver Market Balance

Positive = surplus · Negative = deficit · Million oz · 2016–2025

Source: Silver Institute World Silver Survey 2025

Silver Institute · 2024 annual data

Industrial Demand by Application

Total industrial: 680.5 Moz · 4th consecutive record

Electronics50%
Solar PV29%
Automotive/EV12%
Other9%
⚠️

Structural deficit: 5 consecutive years

Cumulative 2021–2025 deficit: ~862 Moz — nearly one full year of mine production. Supply cannot easily respond because ~72% of silver is a by-product of other base metals.

Silver Institute · World Silver Survey 2025

Silver Supply vs Demand — 2016 to 2025

Supply line (silver) vs Demand line (gold) · Shaded = deficit/surplus · Million troy oz

Source: Silver Institute World Silver Survey 2025

iShares (SLV) + SPDR (GLD) · Daily free CSV download

GLD & SLV ETF Holdings Trend

Ounces held over time — rising = institutional demand signal

Institutional demand
📥

Daily Parsing: SLV (BlackRock) and GLD (SPDR) publish free daily CSVs. Use PapaParse in a daily cron (9am ET) to update these institutional demand indicators.

Source: iShares (SLV) + SPDR (GLD) · Daily free CSV

Section G · TradingView mini charts · Zero backend · AUM data updated quarterly

Gold & Silver ETF Comparison — GLD, IAU, SLV, GDX & More

The major gold and silver ETFs and royalty companies. Mini charts via TradingView — zero backend, zero API key. Total global gold ETF AUM: $606bn (Q1 2026).

GLD

SPDR Gold Shares

Physical Gold

$433.10 -0.41%

AMEX:GLDTradingView Mini Widget
AUM $87.4bn845t goldFee 0.40%

IAU

iShares Gold Trust

Physical Gold

$86.62 -0.40%

AMEX:IAUTradingView Mini Widget
AUM $39.2bn380t goldFee 0.25%

PHYS

Sprott Physical Gold

Allocated

$32.88 -0.36%

TSX:PHYSTradingView Mini Widget
AUM $7.8bnFully alloc.Fee 0.35%

SLV

iShares Silver Trust

Physical Silver

$68.92 +0.18%

AMEX:SLVTradingView Mini Widget
AUM $14.1bn14,200t AgFee 0.50%

GDX

VanEck Gold Miners

Mining Equity

$61.44 +0.62%

AMEX:GDXTradingView Mini Widget
AUM $16.8bn~2x gold betaFee 0.51%

WPM

Wheaton Precious Metals

Streaming

$89.12 -0.15%

NYSE:WPMTradingView Mini Widget
AUM $40.2bn (Mkt Cap)StreamingTicker NYSE:WPM

Section H · NEW — Alpha Vantage free API + WGC AISC + TradingView · All automated

Major Gold Mining Stocks — NEM, AEM, KGC, WPM & GDX Performance

Stock prices from Alpha Vantage (free 25 req/day) or Yahoo Finance. AISC vs spot shows record profitability. GDX/gold ratio chart shows miners are historically cheap vs spot — a signal stock-focused users will value.

TradingView · GDX/XAUUSD ratio · NEW · Zero backend

Gold Miners Discount (GDX / Gold Ratio)

When ratio falls, miners are cheap vs spot. Currently near historical lows.

Miners cheap vs spot
AMEX:GDX / OANDA:XAUUSDTradingView — custom ratio chartsymbol-overview.js · zero backend

Source: TradingView — Relative value of miners vs physical gold

WGC Goldhub · aisc-gold dataset · Quarterly · NEW

Gold Spot vs AISC Mining Cost

All-in sustaining cost per oz vs spot price · Record profit margins in 2025–26

Source: WGC Goldhub · AISC dataset · Mining industry profitability trend

Alpha Vantage free API (25 req/day) + company filings · Daily · NEW

Major Producers & Royalty Companies

Price, market cap, YTD performance, AISC · Updated daily from Alpha Vantage live prices

TickerCompanyTypePriceMkt CapYTD %AISC/ozMargin/oz
NEMNewmont Corp.Producer$62.44$55.2bn+38.4%$1,566+$3,162
AEMAgnico Eagle MinesProducer$119.82$58.1bn+44.2%$1,228+$3,500
KGCKinross GoldProducer$14.28$18.2bn+62.3%$1,344+$3,384
GFIGold FieldsProducer$24.18$20.4bn+39.8%$1,480+$3,248
WPMWheaton Precious MetalsStreaming$89.12$40.2bn+48.6%~$460*+$4,268
RGLDRoyal GoldRoyalty$224.50$14.8bn+41.2%~$500*+$4,228

*Streaming/royalty effective cash costs shown. Prices: Alpha Vantage · AISC: WGC Goldhub + company filings.

Section I · TradingView embeds · Zero backend · Real-time

Sentiment & Cross-Asset

VIX fear gauge vs gold and a multi-asset performance comparison. Both TradingView embeds — zero backend, zero cost, real-time.

TradingView · CBOE:VIX + OANDA:XAUUSD

VIX Fear Gauge vs Gold

Gold safe-haven demand rises with equity market fear

CBOE:VIX + OANDA:XAUUSDTradingView multi-symbol overlayembed-widget-symbol-overview.js · zero backend

Source: TradingView — Real-time safe-haven correlation

TradingView · Multi-asset comparison

Gold vs S&P 500 vs 20yr Bonds vs Silver

Performance comparison — gold as portfolio diversifier

XAUUSD · SPY · TLT · XAGUSDTradingView multi-symbol comparisonembed-widget-symbol-overview.js · zero backend

Source: TradingView — Relative performance benchmark

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New to precious metals? Read ourGold & Silver 101 Guide →

Frequently asked questions · Schema-optimised for Google rich results

Gold & Silver FAQ — Prices, Data & Investing

Common questions about gold and silver prices, data sources and investing. Answers drawn from live market data.

The gold spot price today is $4,728 per troy ounce (April 13, 2026, 9:05 AM ET). Gold hit an all-time high of $5,602 on January 28, 2026, driven by geopolitical risk and central bank buying. It has since pulled back approximately 15% on a US-Iran ceasefire and dollar strengthening. The price updates every 60 seconds on this page from GoldAPI.io. Gold has gained approximately 46.9% year-over-year from April 2025.

At today's spot price of $4,728 per troy ounce, the gold price per gram is $152.05 for 24K (pure) gold. To convert: divide the spot price by 31.1035 (grams per troy ounce). For common karats: 22K gold = $139.43/gram • 18K gold = $114.04/gram • 14K gold = $88.64/gram • 10K gold = $63.41/gram. Use the calculator above to find the value of any weight and purity.

The silver spot price today is $73.00 per troy ounce (April 13, 2026). Silver hit an all-time high of approximately $121/oz in January 2026, driven by a physical squeeze in the London market, China's classification of silver as a strategic material, and surging industrial demand from solar panels. Silver is up approximately 133.9% over the past 12 months. The price per gram is $2.35 for .999 fine silver.

The gold/silver ratio is currently 64.8x (April 13, 2026), meaning it takes approximately 64.8 ounces of silver to buy one ounce of gold. This is near the long-run historical average of 67x. The ratio peaked at 125x during the COVID crisis in March 2020, and compressed sharply as silver surged in 2025–2026. When the ratio is high, silver is considered cheap relative to gold.

Both GLD and IAU are physically-backed gold ETFs. The key differences are: GLD has a 0.40% annual expense ratio vs IAU at 0.25%. GLD is larger (~$87bn AUM) with higher liquidity, making it the preferred choice for institutions. IAU suits long-term retail investors due to the lower carry cost. PHYS (Sprott) is an alternative that holds fully allocated bars with redemption rights.

COMEX registered gold is physical gold stored in CME-approved US warehouses that can be immediately delivered against a futures contract. Currently: ~33.2 million oz (1,034 tonnes). Registered inventory matters because it sets the ceiling on physical delivery demand. When registered stocks fall sharply, physical delivery pressure increases, potentially leading to a price squeeze.

Silver has been in a supply deficit for five consecutive years since 2021. The primary driver is surging industrial demand from solar PV manufacturing (29% of industrial demand), electric vehicles, and AI-related electronics. Total industrial demand hit a record 680.5 million ounces in 2024. Supply is inelastic because ~72% of silver is produced as a by-product of other mining operations.

The CFTC Commitment of Traders (COT) report is a weekly snapshot of futures market positioning. For gold, the key figure is 'managed money net longs'—the position of hedge funds. When this is at multi-year highs, the trade is crowded and vulnerable to reversal. At extreme lows, it often signals a bottom. Free public data is released every Friday at 3:30pm ET.