Silver Price in January 2004
In January 2004, silver rose 4.9%, from $5.95 at the end of December to $6.25 per troy ounce on January 30, 2004. The highest close was $6.63 on January 28, 2004, the lowest $6.20 on January 21, 2004, and the average over 19 trading days was $6.36. Today's price is 761.9% higher than the January 2004 close.
- Silver rose 4.9% in US dollars in January 2004.
- Measured in other currencies, the change ranged from +2.8% in GBP to +11.0% in ZAR, because exchange rates moved too.
- It did better than gold (−3.2%) and US stocks (+1.8%).
- It closed higher on 11 trading days and lower on 8, with an average daily move of 1.96%.
- At the end of the month it was 5.7% below its highest close since 2000.
- Gold/silver ratio: 69.8 → 64.4.
Silver price chart, January 2004
US dollars per troy ounce · daily closeSilver in other currencies, January 2004
| Currency | Change in the month |
|---|---|
| ZAR | +11.0% |
| CAD | +7.1% |
| EUR | +5.9% |
| CNY | +4.9% |
| PKR | +4.7% |
| INR | +3.7% |
| MXN | +3.6% |
| JPY | +3.3% |
| GBP | +2.8% |
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, January 2004
| Asset | Change (USD) |
|---|---|
| Silver | +4.9% |
| Gold | −3.2% |
| S&P 500 (with dividends) | +1.8% |
| US inflation (CPI, month) | +0.49% |
| Gold/silver ratio | 69.8 → 64.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, January 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 |
|---|---|---|---|---|---|
| Jan 5Mon | $6.23 | +4.70% | $0.20 | ₹9,111 | AED 735.75 |
| Jan 6Tue | $6.32 | +1.33% | $0.20 | ₹9,249 | AED 745.55 |
| Jan 7Wed | $6.25 | −1.03% | $0.20 | ₹9,122 | AED 737.88 |
| Jan 8Thu | $6.26 | +0.16% | $0.20 | ₹9,153 | AED 739.06 |
| Jan 9Fri | $6.49 | +3.58% | $0.21 | ₹9,456 | AED 765.50 |
| Jan 12Mon | $6.61 | +1.85% | $0.21 | ₹9,629 | AED 779.66 |
| Jan 13Tue | $6.59 | −0.27% | $0.21 | ₹9,596 | AED 777.54 |
| Jan 14Wed | $6.42 | −2.50% | $0.21 | ₹9,359 | AED 758.06 |
| Jan 15Thu | $6.21 | −3.38% | $0.20 | ₹9,047 | AED 732.55 |
| Jan 16Fri | $6.32 | +1.89% | $0.20 | ₹9,213 | AED 746.36 |
| Jan 20Tue | $6.32 | −0.11% | $0.20 | ₹9,203 | AED 745.53 |
| Jan 21Wed | $6.20 | −1.82% | $0.20 | ₹9,031 | AED 731.86 |
| Jan 22Thu | $6.34 | +2.29% | $0.20 | ₹9,241 | AED 748.62 |
| Jan 23Fri | $6.36 | +0.20% | $0.20 | ₹9,244 | AED 750.26 |
| Jan 26Mon | $6.31 | −0.76% | $0.20 | ₹9,171 | AED 744.49 |
| Jan 27Tue | $6.55 | +3.85% | $0.21 | ₹9,534 | AED 773.17 |
| Jan 28Wed | $6.63 | +1.15% | $0.21 | ₹9,639 | AED 782.02 |
| Jan 29Thu | $6.23 | −6.02% | $0.20 | ₹9,062 | AED 734.97 |
| Jan 30Fri | $6.25 | +0.32% | $0.20 | ₹9,037 | AED 737.29 |
How January usually goes for silver
In the 20 years from 2006 to 2025, silver rose in January 14 times out of 20, with an average move of +4.3% and a median of +3.6%.
Silver in January 2004: FAQ
What was the price of silver in January 2004?
Silver traded between $6.20 and $6.63 per troy ounce (daily closes) in January 2004, averaging $6.36. It closed the month at $6.25.
How much did silver go up in January 2004?
Silver rose 4.9%, from $5.95 to $6.25. The biggest daily rise was +4.7% on January 5, 2004 and the biggest fall −6.0% on January 29, 2004.
What was the silver price on January 5, 2004?
Silver closed at $6.23 per troy ounce on January 5, 2004, the first trading day of the month. 999 India, ₹ per kg: ₹9,111.
Is January usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in January 14 times out of 20, with an average move of +4.3% and a median of +3.6%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in January 2004?
Silver rose 3.7% in Indian rupee terms in January 2004, compared with +4.9% in US dollars.
Did silver beat stocks in January 2004?
Yes. Silver was +4.9% for the month, against +1.8% for the S&P 500 with dividends.
Did silver keep up with inflation in January 2004?
US consumer prices (CPI) changed +0.49% in January, so silver's real (inflation-adjusted) change was about +4.4%.