What is the bmo gold silver ratio and why does it matter now?

It tracks how many ounces of silver equal one ounce of gold. A falling bmo gold silver ratio means silver is outperforming. With silver at Canadian records and U.S. futures near US$92, the ratio has compressed, supporting a tactical tilt toward silver over gold while using clear risk controls and rebalancing rules.

How can Canadian investors get exposure to silver?

You can buy physical coins and bars, CAD-listed silver ETFs, or silver mining stocks on the TSX. Physical adds storage and premiums. ETFs are liquid and simple for RRSPs and TFSAs. Miners can amplify gains but carry company and cost risks. Start with a core ETF, then add miners as a satellite.

Are silver mining stocks better than bullion during ratio compression?

They can outperform when silver rises because operations add upside, but they also fall harder on pullbacks. Bullion and ETFs reduce company risk. We usually keep a core in bullion or ETFs, then add a smaller sleeve in miners if the bmo gold silver ratio keeps tightening and risk controls are in place.

Should I wait for a pullback before buying?

We prefer averaging in over several buys. Use pullbacks to add rather than chasing new highs. Compare all-in CAD costs for physical, and check spreads for ETFs and miners. Set stop levels, position limits, and rebalancing rules tied to the bmo gold silver ratio to keep risk in check.

Global Market Insights

January 16: Silver Hits Records in Canada; Gold/Silver Ratio Squeezes

ByHuzaifa Zahoor January 17, 2026January 17, 2026

The bmo gold silver ratio is in focus as silver hits records in Canada and U.S. futures hold near US$92. Spot silver is up about 27% year to date, outpacing gold and squeezing the gold-to-silver ratio. Canadian buyers are seeing higher CAD quotes and strong retail demand. We break down what this means for allocations, how ratio compression can guide rebalancing, and practical steps for exposure to bullion, ETFs, and silver mining stocks without taking on undue risk.