Commodity ratio · live
Steel to Gold Ratio
The steel to gold ratio is 0.6600 — Steel at $3,066.00 per Metric Ton divided by Gold at $4,645.19 per Troy Ounce.
Prices as of Aug 24, 2026, 10:33 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Gold ratio
1.000 T of steel = 0.6600 T.oz of gold
Inverse (XAU/STEEL): 1.515 — one Troy Ounce of gold buys that much steel.
Below its 1 year average. (21th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Gold
$4,645.19
per Troy Ounce
Unit basis: CNY per Metric Ton ÷ USD per Troy Ounce. The ratio reads as Troy Ounces of gold per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 10:33:44 GMT.
These two commodities are quoted in different currencies (CNY and USD). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.7127
median 0.7088
1Y low
0.5540
Jan 27, 2026
1Y high
0.9393
Aug 24, 2025
Normal band
0.6440–0.7815
mean ± 1 std dev
Deviation from mean
-0.77σ
317 observations
Steel to Gold ratio charts
Pick a range once — it applies to the STEEL/XAU ratio line, the OHLC candles and the Steel / Gold price chart below.
STEEL/XAU ratio line
How many T.oz of Gold one T of Steel buys, over 1Y.
STEEL/XAU ratio candles
Open, high, low and close of the STEEL/XAU ratio for each period in the last 1Y.
Steel and Gold prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the steel to gold ratio
Steel to Gold ratio = Steel price per Metric Ton ÷ Gold price per Troy Ounce
The two legs use different units, so the result is a rate — Troy Ounces of gold per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $4,645.19 = 0.6600. The inverse is 1.515.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4647.62 |
| 2 | XAG | Silver | 69.00 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.75 |
| 5 | NG-FUT | Natural Gas Futures | 2.77 |
| 6 | PL | Platinum | 1885.63 |
| 7 | PA | Palladium | 1351.00 |
Frequently asked questions
What is the steel to gold ratio today?
The steel to gold ratio is 0.6600 — Steel at $3,066.00 per Metric Ton divided by Gold at $4,645.19 per Troy Ounce, from live mid-market prices.
How do you calculate the steel to gold ratio?
Divide the steel price per Metric Ton by the gold price per Troy Ounce. If the two units differ, the result is a rate rather than a plain count — read it as Troy Ounces of gold per Metric Ton of steel.
What is the inverse of the steel to gold ratio?
The inverse, gold to steel, is 1.515 — how many Metric Tons of steel one Troy Ounce of gold buys.