Silver Price in August 2004
In August 2004, silver rose 3.4%, from $6.55 at the end of July to $6.77 per troy ounce on August 31, 2004. The highest close was $6.87 on August 20, 2004, the lowest $6.52 on August 11, 2004, and the average over 22 trading days was $6.69. Today's price is 692.8% higher than the August 2004 close.
- Silver rose 3.4% in US dollars in August 2004, leaving it up 13.7% for the year to date.
- Measured in other currencies, the change ranged from +1.3% in JPY to +9.7% in ZAR, because exchange rates moved too.
- It did better than US stocks (+0.4%), and worse than gold (+5.0%).
- It closed higher on 14 trading days and lower on 8, with an average daily move of 1.03%.
- At the end of the month it was 17.5% below its highest close since 2000.
- Gold/silver ratio: 59.7 → 60.6.
Silver price chart, August 2004
US dollars per troy ounce · daily closeSilver in other currencies, August 2004
| Currency | Change in the month |
|---|---|
| ZAR | +9.7% |
| GBP | +4.5% |
| PKR | +4.1% |
| INR | +3.4% |
| CNY | +3.4% |
| MXN | +2.4% |
| EUR | +2.0% |
| CAD | +1.9% |
| JPY | +1.3% |
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, August 2004
| Asset | Change (USD) |
|---|---|
| Silver | +3.4% |
| Gold | +5.0% |
| S&P 500 (with dividends) | +0.4% |
| US inflation (CPI, month) | +0.05% |
| Silver, year to date (end of August) | +13.7% |
| Gold/silver ratio | 59.7 → 60.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, August 2004
Closing price for every trading day, with the same price in INR and AED at that day's exchange rate.
| Date | Close (USD per oz) | Change | USD per gram | 999 India, ₹ per kg | UAE, AED per kg |
|---|---|---|---|---|---|
| Aug 2Mon | $6.61 | +0.92% | $0.21 | ₹9,824 | AED 780.34 |
| Aug 3Tue | $6.68 | +0.98% | $0.21 | ₹9,917 | AED 788.03 |
| Aug 4Wed | $6.73 | +0.78% | $0.22 | ₹10,015 | AED 794.15 |
| Aug 5Thu | $6.74 | +0.19% | $0.22 | ₹10,027 | AED 795.71 |
| Aug 6Fri | $6.77 | +0.40% | $0.22 | ₹10,049 | AED 798.79 |
| Aug 9Mon | $6.73 | −0.56% | $0.22 | ₹10,017 | AED 794.41 |
| Aug 10Tue | $6.71 | −0.22% | $0.22 | ₹9,980 | AED 792.64 |
| Aug 11Wed | $6.52 | −2.90% | $0.21 | ₹9,685 | AED 769.62 |
| Aug 12Thu | $6.55 | +0.46% | $0.21 | ₹9,726 | AED 773.16 |
| Aug 13Fri | $6.62 | +1.04% | $0.21 | ₹9,835 | AED 781.23 |
| Aug 16Mon | $6.73 | +1.71% | $0.22 | ₹10,003 | AED 794.42 |
| Aug 17Tue | $6.72 | −0.10% | $0.22 | ₹9,995 | AED 793.59 |
| Aug 18Wed | $6.83 | +1.59% | $0.22 | ₹10,158 | AED 806.22 |
| Aug 19Thu | $6.82 | −0.22% | $0.22 | ₹10,138 | AED 804.54 |
| Aug 20Fri | $6.87 | +0.75% | $0.22 | ₹10,200 | AED 810.54 |
| Aug 23Mon | $6.74 | −1.82% | $0.22 | ₹10,002 | AED 795.72 |
| Aug 24Tue | $6.57 | −2.48% | $0.21 | ₹9,766 | AED 776.03 |
| Aug 25Wed | $6.61 | +0.55% | $0.21 | ₹9,828 | AED 780.25 |
| Aug 26Thu | $6.68 | +0.98% | $0.21 | ₹9,930 | AED 788.01 |
| Aug 27Fri | $6.59 | −1.30% | $0.21 | ₹9,792 | AED 777.76 |
| Aug 30Mon | $6.71 | +1.78% | $0.22 | ₹9,966 | AED 791.55 |
| Aug 31Tue | $6.77 | +0.98% | $0.22 | ₹10,074 | AED 799.37 |
How August usually goes for silver
In the 20 years from 2006 to 2025, silver rose in August 10 times out of 20, with an average move of +1.8% and a median of +1.9%.
Silver in August 2004: FAQ
What was the price of silver in August 2004?
Silver traded between $6.52 and $6.87 per troy ounce (daily closes) in August 2004, averaging $6.69. It closed the month at $6.77.
How much did silver go up in August 2004?
Silver rose 3.4%, from $6.55 to $6.77. The biggest daily rise was +1.8% on August 30, 2004 and the biggest fall −2.9% on August 11, 2004.
What was the silver price on August 2, 2004?
Silver closed at $6.61 per troy ounce on August 2, 2004, the first trading day of the month. 999 India, ₹ per kg: ₹9,824.
Is August usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in August 10 times out of 20, with an average move of +1.8% and a median of +1.9%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in August 2004?
Silver rose 3.4% in Indian rupee terms in August 2004, compared with +3.4% in US dollars.
Did silver beat stocks in August 2004?
Yes. Silver was +3.4% for the month, against +0.4% for the S&P 500 with dividends.
Did silver keep up with inflation in August 2004?
US consumer prices (CPI) changed +0.05% in August, so silver's real (inflation-adjusted) change was about +3.3%.