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Gold-Silver Ratio Tops 75 as Silver Slides Toward Its Yearly Low Ahead of the Fed Decision
On Wednesday, October 28, 2026, silver is sliding toward its yearly low while gold holds just above $4,000, as oil-fueled inflation worries keep the physical precious metals market cautious ahead of the Federal Reserve’s decision. Gold spot price is trading at $4,049.05 per ounce, down $11.33 (-0.28%) on the day. Silver spot price is trading at $53.91 per ounce, down $0.51 (-0.94%) on the day. That split lifts the gold/silver ratio to 75.1, up from roughly 60 at the start of the year. The gold spot price today sits $106.53 above its 2026 low of $3,942.52, while the silver spot price today holds just $1.25 above its yearly low of $52.66. That narrow cushion tells you which metal the market is testing. The Federal Open Market Committee wraps up its two-day meeting today, with the policy statement due at 2:00 p.m. ET. Until it lands, every price on the screen is positioning, not reaction. Markets broadly expect the Fed to hold rates, so the real catalyst will be the statement’s tone on inflation and the press conference that follows. For physical buyers, this pre-decision lull is the window that matters. Disciplined buyers set their orders before the volatility arrives, not after. Today’s daily precious metals market report looks at what the ratio reveals beneath the quiet tape.
The most important number on the board this morning is not gold’s price but the 75.1 ratio, and the year-to-date figures on USAGOLD’s live silver price page show how it got there. Gold is down 6.23% in 2026, a $269.06 decline. Silver is down 24.70%, a $17.68 drop, and trades 55.7% below its yearly high of $121.67. Gold, by comparison, sits 27.7% under its $5,598.58 peak. Put those side by side and the story is clear: in percentage terms, the selling since January has hit silver roughly four times harder than gold. That is the signal most readers will miss. When gold holds up while silver gives ground, the market is stripping out silver’s industrial and speculative premium faster than it is discounting gold’s monetary role. The ratio’s climb from about 60 in January to 75 today means one ounce of gold now buys roughly 15 more ounces of silver than it did at the start of the year. For physical investors, that is a practical opportunity, not a theoretical one. A holder who swaps gold for silver at elevated ratios, and back again when the ratio compresses, adds ounces without adding dollars. That strategy only works with metal in hand, outside the paper market. Nobody can tell you the ratio has peaked, and this afternoon’s Fed statement could push it either way. But a long-term stacker deciding where new dollars go this week can see that silver trades near its 2026 floor while gold still sits well above its own. Investors weighing that trade can compare current silver coin prices against gold before the 2:00 p.m. ET statement adds volatility. Discipline, not prediction, is the edge: choose the ratio level that triggers your switch, and let the market come to you.
