Commodity ratio · live
Gold to Steel Ratio
The gold to steel ratio is 1.515 — Gold at $4,645.19 per Troy Ounce divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:33 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Gold to Steel ratio
1.000 T.oz of gold = 1.515 T of steel
Inverse (STEEL/XAU): 0.6600 — one Metric Ton of steel buys that much gold.
Above its 1 year average. (79th percentile of the last 1 year)
Gold
$4,645.19
per Troy Ounce
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Troy Ounce ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Troy Ounce of gold. Prices as of Mon, 24 Aug 2026 10:33:44 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
1.416
median 1.411
1Y low
1.065
Aug 24, 2025
1Y high
1.805
Jan 27, 2026
Normal band
1.280–1.552
mean ± 1 std dev
Deviation from mean
+0.73σ
317 observations
Gold to Steel ratio charts
Pick a range once — it applies to the XAU/STEEL ratio line, the OHLC candles and the Gold / Steel price chart below.
XAU/STEEL ratio line
How many T of Steel one T.oz of Gold buys, over 1Y.
XAU/STEEL ratio candles
Open, high, low and close of the XAU/STEEL ratio for each period in the last 1Y.
Gold and Steel prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the gold to steel ratio
Gold to Steel ratio = Gold price per Troy Ounce ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Troy Ounce of gold — rather than a plain count.
Worked example, live prices: $4,645.19 ÷ $3,066.00 = 1.515. The inverse is 0.6600.
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 gold to steel ratio today?
The gold to steel ratio is 1.515 — Gold at $4,645.19 per Troy Ounce divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the gold to steel ratio?
Divide the gold price per Troy Ounce by the steel price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of steel per Troy Ounce of gold.
What is the inverse of the gold to steel ratio?
The inverse, steel to gold, is 0.6600 — how many Troy Ounces of gold one Metric Ton of steel buys.