The price ratio between gold and silver is currently 80:1, near the highest level in 15 years. It has averaged 60:1 during that time, falling to as low as 40:1. It was 55:1 in August. Would going long silver and shorting gold be a good pairs trade right now? Why or why not? Also, the ratio was as high as 120:1 in the 1980s and the average ratio was much higher during that decade. Does anybody know why it was so high in the 80s?