The Green line in the chart below is the daily calculated Gold/Silver ratio (scaled to the right).

Overlaid in Blue is the average annual percentage change of the Gold/Silver ratio (scaled to the left) for front-month futures contracts (GC and SI respectively). The percent change pattern starts January 1st, each year at 1.00. The long-term average pattern for the ratio shows that it tends to rise about 5% annually. So the blue line tends to end each year around 1.05.

Using front-month futures data from paid sources, beyond what is available in TradeStation, we have the Gold/Silver ratio back to 1/1/1976. This data is used in the study. So the long-term average annual percentage change pattern, seen on the left of the chart, represents up to 35 years of information.

SeasonalTrends for the Gold/Silver ratio from 1/1/1976