Silver Price in May 2003
In May 2003, silver fell 2.4%, from $4.64 at the end of April to $4.53 per troy ounce on May 30, 2003. The highest close was $4.86 on May 14, 2003, the lowest $4.53 on May 30, 2003, and the average over 21 trading days was $4.74. Today's price is 1,098.3% higher than the May 2003 close.
- Silver fell 2.4% in US dollars in May 2003, leaving it down 5.7% for the year to date.
- Measured in other currencies, the change ranged from −2.4% in CNY to −2.0% in JPY, because exchange rates moved too.
- It did worse than gold (+7.5%) and US stocks (+5.3%).
- It closed higher on 9 trading days and lower on 12, with an average daily move of 0.92%.
- At the end of the month it was 11.5% below its highest close since 2000.
- Gold/silver ratio: 73.1 → 80.5.
Silver price chart, May 2003
US dollars per troy ounce · daily closeSilver in other currencies, May 2003
| Currency | Change in the month |
|---|---|
| JPY | −2.0% |
| PKR | −2.4% |
| CNY | −2.4% |
Price in each currency at each day's exchange rate, previous month-end to this month-end. A weaker currency makes silver rise more in local terms.
Silver vs other assets, May 2003
| Asset | Change (USD) |
|---|---|
| Silver | −2.4% |
| Gold | +7.5% |
| S&P 500 (with dividends) | +5.3% |
| US inflation (CPI, month) | −0.16% |
| Silver, year to date (end of May) | −5.7% |
| Gold/silver ratio | 73.1 → 80.5 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, May 2003
Closing price for every trading day.
| Date | Close (USD per oz) | Change | USD per gram |
|---|---|---|---|
| May 1Thu | $4.76 | +2.65% | $0.15 |
| May 2Fri | $4.78 | +0.48% | $0.15 |
| May 5Mon | $4.80 | +0.38% | $0.15 |
| May 6Tue | $4.79 | −0.31% | $0.15 |
| May 7Wed | $4.73 | −1.21% | $0.15 |
| May 8Thu | $4.79 | +1.27% | $0.15 |
| May 9Fri | $4.79 | −0.04% | $0.15 |
| May 12Mon | $4.86 | +1.55% | $0.16 |
| May 13Tue | $4.81 | −0.97% | $0.15 |
| May 14Wed | $4.86 | +1.04% | $0.16 |
| May 15Thu | $4.77 | −1.89% | $0.15 |
| May 16Fri | $4.78 | +0.21% | $0.15 |
| May 19Mon | $4.81 | +0.63% | $0.15 |
| May 20Tue | $4.76 | −1.00% | $0.15 |
| May 21Wed | $4.72 | −0.99% | $0.15 |
| May 22Thu | $4.65 | −1.34% | $0.15 |
| May 23Fri | $4.64 | −0.32% | $0.15 |
| May 27Tue | $4.62 | −0.43% | $0.15 |
| May 28Wed | $4.63 | +0.32% | $0.15 |
| May 29Thu | $4.57 | −1.42% | $0.15 |
| May 30Fri | $4.53 | −0.92% | $0.15 |
How May usually goes for silver
In the 20 years from 2006 to 2025, silver rose in May 9 times out of 20, with an average move of +0.3% and a median of −0.7%.
Silver in May 2003: FAQ
What was the price of silver in May 2003?
Silver traded between $4.53 and $4.86 per troy ounce (daily closes) in May 2003, averaging $4.74. It closed the month at $4.53.
How much did silver go down in May 2003?
Silver fell 2.4%, from $4.64 to $4.53. The biggest daily rise was +2.7% on May 1, 2003 and the biggest fall −1.9% on May 15, 2003.
What was the silver price on May 1, 2003?
Silver closed at $4.76 per troy ounce on May 1, 2003, the first trading day of the month.
Is May usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in May 9 times out of 20, with an average move of +0.3% and a median of −0.7%. Past seasonal patterns are not a reliable guide to any single year.
Did silver beat stocks in May 2003?
No. Silver was −2.4% for the month, against +5.3% for the S&P 500 with dividends.
Did silver keep up with inflation in May 2003?
US consumer prices (CPI) changed −0.16% in May, so silver's real (inflation-adjusted) change was about −2.3%.