Precious metal price ratios tend to revert to historical levels. The current gold/silver price ratio is very close to 60 which, in turn, is very close to the average since the mid 1980s. Sitting on the average should not be taken as the norm. Over the last 20 years, the gold/silver price ratio has moved between 40 and 80 suggesting that variations in prices can be quite wide and picking the direction of the next deviation could be worthwhile. All the average might tell us is that there is a 50% chance of a move in either direction. The less looked at platinum/silver price ratio (displayed in a chart at (VIEW LINK) /PortfolioDirect/daily_views.htm) tells a slightly different story. The ratio is currently below average suggesting, if there is a choice to be made between silver and platinum prices, the balance of risks might favour platinum.