The gold-to-silver ratio used to define the value of currencies and still remains an important metric for metals investors today.
Metals mostly provided positive returns in 2021, with lithium and other industrial metals leading the charge while gold and silver slumped.
Royalty companies can flexibly manage risk more easily compared to mining companies, while still offering precious metals exposure.
The world produced 3,200 tonnes of gold in 2020, a 3% drop relative to 2019. This graphic breaks down global gold production by country.