An ounce of gold in Singapore equaled 37.15 ounces of silver. That average has hovered around 62 ounces for the past decade. Silver futures have at least doubled in value during the past year while gold's value has risen 27 percent.
"Silver has yet to hit a record which means the ratio will decline further" to values not seen since the Hunt brothers attempted to corner the market in 1980, according to Hwang Il Doo, Seoul-based senior trader with KEB Futures Co. "Investor and industrial demand is strong as the economic recovery is under way and inflation becomes a worry."
Precious metal demand is attributable to optimism about economic recovery from the globe's deep economic recession, fighting in North Africa and the Middle East and concerns about inflation.
Shortly after 9:45 a.m. on Tuesday, gold futures edged up 0.09 percent, a $1.30 rise to $1,434.30 per troy ounce. Silver futures slipped 0.02 percent, a 0.009 cent slip to $38.485 per troy ounce.