Gold/silver ratio: next cycle turn around 18 Dec 2026
The measured rhythm of the gold/silver ratio points to a trough around 18 Dec 2026. Its two dominant cycles last about 6 and 4 months, and Next Turn re-measures them every night.
Added together, the two cycles form one combined rhythm, and its turns are what this page shows. Its last turn was a peak on 29 Oct 2026. The next projected turn is a trough around 18 Dec 2026, about six weeks away. The projection is measured again every night as new data comes in, so the date is always current.
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Recent turns of the gold/silver ratio
The turns of the combined cycle over the last stretch, newest first, with the trading days since the turn before.
| Date | Turn | Trading days since the one before |
|---|---|---|
| 29 Oct 2026 | peak | 42 |
| 31 Aug 2026 | trough | 43 |
| 30 Jun 2026 | peak | 33 |
| 12 May 2026 | trough | 32 |
| 26 Mar 2026 | peak | 42 |
| 26 Jan 2026 | trough | 43 |
| 20 Nov 2025 | peak | 37 |
| 30 Sep 2025 | trough | 28 |
About the gold vs silver ratio
The price of the gold ETF (GLD) divided by that of the silver ETF (SLV): it rises when gold does better than silver and falls when silver does better. Dividing one by the other takes out what moves both, such as the dollar, and leaves the rotation between the two metals.
Questions about the gold/silver ratio
How long are the cycles of the gold/silver ratio?
Two: about 135 and 73 trading days, measured from the daily data and re-measured after every trading day.
When is the next turn of the gold/silver ratio?
The next projected turn is a trough around 18 Dec 2026, give or take about 10 trading days. Explore it on the live chart, with each cycle on its own.
How regular have the turns been?
Over the last eight turns, one came on average every 38 trading days.
How the cycles are found
A time series can be written as many waves added together. Next Turn measures which of those waves dominate the market today, how strong each one is, and where each stands in its cycle right now. The How it works page explains the idea with pictures and a little mathematics.
More markets: Silver (SLV) · Taiwan (EWT) · Korea (EWY) · Coinbase (COIN) · Bitcoin (GBTC) · Halliburton (HAL) · Oil (USO) · Natural gas (UNG)
This page applies signal processing to a financial time series. It does not trade, gives no trading signals and is not investment advice. Past turns are found with hindsight. We accept no responsibility for any loss arising from the use of this site. Read the disclaimer.