Gold-silver ratio, March 5 -- Silver did outperform gold in the last year, but when times get tough, the yellow metal emerges as the ultimate winner. The recent conflict in the Middle East underscores this trend.

At the time US and Israel are attacking Iran, and the Islamic state is responding with full force, gold prices are retaining their sheen even as silver sulks. Both precious metals are considered safe haven bets, but given silver's higher beta and its usage in industries, it is a less preferred choice for investors.

To better understand the tug-of-war between gold and silver, traders have consistently watched a simple gauge - the gold-silver ratio.

Currently, with the US spot gold prices at $5,166.11 an ounce and silver prices ...