What it is
It is the price of an ounce of gold divided by the price of an ounce of silver, using quotes from the same moment. A ratio of 70 means one ounce of gold costs the same as 70 ounces of silver.
Why it moves
It is a relationship between two prices, so it changes when either one moves. It rises if gold gets more expensive against silver and falls if the opposite happens.
How to use the figure
It helps you see how one metal is doing relative to the other. It does not say when to buy or when to sell, and it should not be read as a signal.
More data
The history of the ratio is on this same page. To see the price of each metal separately, use the live price and the historical charts.
A figure to cross-check with others
Also look at the historical charts for each metal. The ratio is better understood with both prices in front of you than as an isolated number.
This information is not an investment recommendation.