Gold-silver ratio jumps to 65. What does it mean amid escalation in the US-Iran war?

Gold-silver ratio: Amid escalation in the US-Iran war after Yemen’s Houthis reportedly launched missile strikes on Israel, gold and silver attracted value buying after the weak opening during the early morning session on Monday. The COMEX gold rate today opened on a weak note and touched an intraday low of $4,447.50/oz. However, the precious yellow metal bounced back strongly and is currently trading around $4,550 per ounce, more than half a per cent higher than Friday's close.

Likewise, the COMEX silver rate today opened weakly but bounced back strongly after hitting an intraday low of $67.723/oz. The COMEX silver rate is currently trading green at around $70.30 per ounce.

In India, the MCX gold price today is around ₹1,47,900 per 10 gm, and the MCX silver price today is around ₹2,28,359 per kg.

Gold-silver ratio today

Taking a cue from international and domestic markets, the gold-silver ratio today is around 65, down from below 45 in January 2026.

Decoding the gold-silver ratio, Amit Goel, Chief Global Strategist at Pace 360, said, "In the gold-silver ratio,80 is the pivot point. When the gold-silver ratio falls below 80, silver prices begin to enter the overbought zone. Similarly, when this ratio exceeds 80, gold prices enter the overbought zone. As the gold rate today in the international market is around $4,550 per ounce and the silver rate today is $70.30 per ounce, the gold-silver ratio is near 65, indicating that silver is in the overbought zone. One should avoid buying the white metal in the current market scenario."

Is it the right time to buy gold?

The Chief Global Strategist at Pace 360 stated that the current market scenario for bullion is ideal for buying gold, as the gold-silver ratio has risen from 43 to 65 in the last two months. The gold-silver ratio today is just 15 points away from the pivot point. Therefore, investors are expected to shift funds from silver to gold, as silver is currently in the overbought zone and profit-booking may occur at any time in the white metal.

Gold vs silver: What fundamentals suggest?

Anuj Gupta, a SEBI-registered market expert, believes gold has investment value only, while silver has both investment and industrial value. Gupta said that nearly 60% of the silver demand comes from industries. As the US-Iran war has entered its fifth week, tension is still high despite Donald Trump extending the deadline to open the Strait of Hormuz for the next 10 days to 6 April 2026.

“The WTI Crude oil price today regained the $100 per barrel mark, fueling inflation and denting the industrial slowdown. So, demand for silver is expected to go down in the near term, and hence, investors are advised to buy gold instead of silver,” Anuj Gupta said.

Outlook for the COMEX gold price today

On the near-term outlook of the gold rate today, Renisha Chainani, Head- Research at Augmont, said, “We expect gold to trade sideways-to-up next week, in a range roughly $4,300–$4,600. Near-term price drivers include any fresh Middle East news (ceil or escalation), U.S. inflation data (PCE), and Fed commentary. A weaker USD or renewed hawkish Fed pivot (if inflation ticked up) could push gold back toward $4,700–$4,800, while fresh ceasefire optimism or easing inflation could lift prices.”

Speaking on the outlook of the COMEX gold rate today, Ponmudi R, CEO of Enrich Money, said the COMEX gold rate today opened on a steady note, trading above key short-term moving averages, with prices currently hovering within the $4,500–$4,600 band. The overall structure continues to reflect underlying weakness, with persistent geopolitical tensions in the Middle East offering only intermittent safe-haven support, providing a limited cushion to prices.

“A sustained move above $4,650 could extend the rally toward $4,750–$4,800, with further upside potential toward $4,900, where stronger supply pressure is likely to emerge. On the downside, a sustained break below $4,400 may accelerate weakness toward $4,300, with further downside extending toward the $4,100 level. Overall, the structure remains cautiously positive as long as prices hold above key support levels,” the Enricj Money CEO said.

Outlook for the gold rate today in India

On the outlook of the MCX gold rate today, the Enrich Money expert said the MCX gold rate today opened with a mild gap up and is currently trading above the ₹1,46,000 support band, indicating underlying buying interest at this level despite some intraday volatility. Price action suggests resilience at higher levels, keeping the broader tone cautious.

Ponmudi said that on the upside, the ₹1,49,000 to ₹1,50,000 zone remains the immediate resistance area. A sustained move above this level would strengthen bullish momentum and may open the path toward ₹1,53,000, with further upside potential toward ₹1,58,000, where supply pressure is likely to emerge.

“On the downside, a sustained break below ₹1,44,000 could trigger extended profit booking, potentially dragging 0prices toward the ₹1,3,000 range. Overall, the near-term bias remains cautious, supported by underlying strength in prices, with macro uncertainty and geopolitical developments expected to continue driving momentum,” Ponmudi R of Enrich Money concluded.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.