The gold to silver ratio - price of one ounce of gold in terms of silver - has touched its highest level in over 5,000 years. A Nasdaq report stated that the ratio peaked at 123.78 as per the precious metal prices on Monday. According to the author, Marshall Gittler, Head of Investment Research at BD Swiss Group, gold outperforms when inflation expectations are lower. He added that the 5,000-year high in this indicator is warning us of a tremendous deflationary period ahead. Deflation occurs when the inflation rate falls below 0%.