India’s gold-silver ratio has widened to about 72 as firmer US yields, a stronger dollar and expectations of further Federal Reserve tightening weigh more heavily on silver.
Gold and silver prices in India are still under pressure, with both metals losing ground over the past few weeks as investors reassess the outlook for US interest rates and bond yields. According to GoodReturns, the gold-to-silver ratio has widened to about 72, a sign that silver is lagging gold as markets price in firmer Treasury yields and a less supportive backdrop for precious metals. The latest trading patterns also show that the market remains sensitive to the dollar, geopolitical tensions and comments from the US Federal Reserve.
Domestic quotations reflect the weakness. GoodReturns said 24-carat gold was priced at Rs1,47,660 per 10 grams, while 22-carat gold stood at Rs1,35,350 and 18-carat gold at Rs1,10,740. Silver was quoted at Rs2.30 lakh per kilogram. The article said both metals have fallen by more than 1% and 2% respectively so far in October, underscoring the strain on bullion despite its traditional role as a defensive asset.
The broader backdrop helps explain why silver has been the weaker metal. Market commentary cited by GoodReturns points to stronger inflation readings and expectations of further Federal Reserve tightening, which tend to weigh on non-yielding assets such as gold and silver. The report also noted that the market is still assigning a high probability to a December rate increase, while spot silver has been trading below $57 an ounce. By contrast, gold has held a little better, with spot prices around $4,166 an ounce, though the metal remains trapped in a narrow range.
For the week of October 19 to 23, the near-term direction will hinge on whether yields and the dollar remain restrained or whether stronger economic data and persistent inflation revive selling pressure. GoodReturns said traders will watch demand, geopolitical developments and comments from Federal Reserve Chair Kevin Warsh for further clues on policy. Technically, the report described gold as vulnerable unless it can push decisively above key resistance levels, while silver remains closer to oversold territory and could stabilise if support holds, even though the overall trend is still weak.
The wider significance of the gold-silver ratio is that it often signals changing sentiment across the precious-metals market. A higher ratio usually means silver is relatively cheap versus gold, often because of weaker industrial demand or a more cautious economic outlook. External price trackers cited in the related material put the ratio at roughly 73 at around the same time, which is broadly consistent with GoodReturns’ estimate and reinforces the message that silver remains under heavier pressure than gold.
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