Here's your Forbes daily briefing for Friday, January 30th. Today on Forbes, silver is moving

faster than gold. That almost never happens. By one measure, silver has caught up to gold,

and then some. The gold to silver ratio, the price of an ounce of gold divided by the price of an ounce of silver,

has dropped below 50 for the first time since March 2012.

In simple terms, that means silver is trading at its highest level relative to gold in nearly 14 years

amidst a rally that has seen gold rise by more than 80% over the last

year to over $5,100 an ounce, while silver has surged 250% to over $110 an ounce, both

all-time high prices.

As of early Thursday morning, gold and silver prices surged again, with silver topping the

$120 mark briefly, and gold nearing an all-time high of $5,600.

Gold and silver had a record-shattering 2025.

The medals were boosted by federal interest rate cuts and tariffs imposed earlier in Trump's

second term.

Demand for silver, which is crucial in technological industries like electric vehicle production

and AI data centers, also increased.

Silver also faced a price squeeze amid fears Trump would place tariffs on the metal, causing

a flood of silver into U.S.

vaults that diminished supply in the London trading hub, contributing to rising prices.

Some analysts have attributed this week's surge in metals prices to Trump's fresh tariff threats,

including the threat of a 100% tariff on Canada if it follows through on a trade deal

with China. His Canadian

tariff threat follows threats he made to impose tariffs against European nations that oppose his

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