Gold spot
—USD / oz
- 1W
- −2.7%
- 1M
- −6.9%
- YTD
- −10.2%
- 1Y
- −2.9%
- 3Y
- +94.4%
GoldSilverHQ
Silver spot
—USD / oz
- 1W
- −8.6%
- 1M
- −18.3%
- YTD
- −30.0%
- 1Y
- +1.4%
- 3Y
- +110.9%
Gold–silver ratio
—oz Ag / oz Au
Gold mined this year
—ounces
Ounces mined worldwide so far in 2026, estimated from World Gold Council data.
Silver mined this year
—ounces
Ounces mined worldwide so far in 2026, estimated from Silver Institute data.
Mining ratio
7.1ounces Ag / ounces Au
Ounces of silver mined for each ounce of gold in 2026.
—
7.16 billion ounces ever mined
—
1,394.5 million ounces
London vaults, CME (COMEX), Shanghai Gold Exchange, Shanghai Futures Exchange, other exchanges
Featured
When paper money broke
Weimar, Nixon, Law, and what sound money means.
1923
Weimar hyperinflation
In 1923 the German paper mark died as money — prices by the hour — until the Rentenmark of November restored a usable unit.
1971
Nixon closes the gold window
15 August 1971: the Nixon shock closed the last official promise to redeem dollars in gold for foreign governments.
1720
John Law and the Mississippi Bubble
Notes without a trusted stop. Paris believed him — until it did not.
The idea
Sound money
A unit whose supply cannot be expanded at will — costly metal, or a redeemability contract that still holds.
Notes
From the blog
Short essays beside History and Markets — all posts.
2026-10-19
The Peseta Was Born as Real Silver. It Ended at 166 to the Euro
On 19 October 1868 Spain made the peseta its money, a fixed weight of silver and gold. More than 130 years later it was locked at 166.386 to one euro.
2026-10-17
How America Collected Gold in 1933, Then Revalued It
In the spring of 1933 a $20 gold certificate still paid gold coin on demand. Ten months later the Treasury held that gold, and an ounce was $35.
2026-10-11
The Scottish Gambler Who Tried to Replace France's Gold With Paper
On 10 October 1720 the Banque Royale's notes were set to stop being money on 1 November. John Law's paper had promised silver, and the bank could not pay.
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