As James Turk puts in his Freemarket Gold and Money Report: "Last year, the gold/silver ratio repeatedly tested overhead resistance in the low 80s ... The ratio closed on Friday at 69.5. So from its highest peak the ratio has dropped 17.6%, which is by any measure a very healthy gain achieved in less than four months." See Website

Turk goes on to predict the ratio will go to 40 and eventually see the 1980 extreme below 20. Given the current gold price, this implies a silver price of $45.