What does one commodity buy of another, and is that high or low?

4 of 10 price ratios are in the highest or lowest tenth of their history in August 2026: gold to crude oil (49, higher than 98% of months); platinum to gold (0.40, higher than 2% of months); copper to gold (3.25, higher than 3% of months); aluminum to copper (0.23, higher than 0% of months).

A ratio between two prices says what a unit of one buys of the other, which removes the common moves (inflation, the dollar, a general commodity rally) and leaves the relative one. "Higher than X% of months" is the share of months since the series began in which the ratio was lower than today's. A ratio far from its history is a statement about the past, not a prediction that it will return: some ratios shift for good when a technology, a trade rule or a supply source changes. Only Pink Sheet series that may be redistributed are used, and the charts start in 1990 for page weight (the statistics use the full history). Click a heading to sort.

World Bank Pink Sheet primary benchmark series, monthly averages; a ratio exists only for months in which both prices are reported. The four metal and energy ratios also appear, with their lowest and highest months, on linked prices and seasons; the figures agree because both divide the same monthly series.