Gold is the yardstick. Below, silver, platinum, palladium and copper priced in gold: where each sits against the last 1, 2, 5 and 10 years, the price range that would be usual at today’s gold price, and how speculators are positioned. Updated daily.
“Cheaper than on 81% of days” means that on 81 days out of 100 the metal cost more gold than it does today. Each bar shows which prices were common (the middle 20% of days), less common (25% on each side) and rare (the cheapest and dearest 15%), with gold held at today’s price.
In gold, silver is cheaper today than on 43% of days in the last 2 years.
In gold, platinum is cheaper today than on 70% of days in the last 2 years.
Not enough price history yet for this window; it builds up day by day.
In gold, copper is cheaper today than on 0% of days in the last 2 years.
Platinum/palladium: 1.44 oz of palladium per oz of platinum — not enough history yet.
Prices: World Bank (monthly history) and gold-api.com. Calculations: FinChiefs.
| Market | % of OI | COT index, 52w | Read |
|---|---|---|---|
| Gold Net long = a bet on gold up | +26.6% | 29 | Neutral |
| Silver Net long = a bet on silver up | +2.9% | 0 | Least long in a year |
| Copper Net long = a bet on copper up | +12.0% | 11 | Neutral |
| Platinum Net long = a bet on platinum up | +2.1% | 3 | Least long in a year |
| Palladium Net long = a bet on palladium up | −49.1% | 0 | Crowded short |
Source: U.S. Commodity Futures Trading Commission, Commitments of Traders, futures only. Positions as of 27 Oct 2026. More in the COT report.
How many ounces of silver buy one ounce of gold. A high ratio means silver is cheap relative to gold; it tends to rise in stress and fall when industrial demand picks up.
Markets change regime. Central banks have bought far more gold since 2022, and they do not buy silver, so a ratio that looks extreme against 10 years can look normal against 2.
Each metal's price in ounces of gold is compared with every day in the window. The common zone is where it traded on the middle 20% of those days; the rare zones are its cheapest and dearest 15%. Prices are converted at today's gold price. It describes the past and is not a forecast.
Today's prices from gold-api.com; the long history from the World Bank's monthly commodity prices (the Pink Sheet). Ratios, percentiles and price ranges are FinChiefs calculations.
Every morning, what published research argued the day before: the cross-asset and macro read in full, then every market in a line.