Silver Price in November 2004
In November 2004, silver rose 5.9%, from $7.29 at the end of October to $7.72 per troy ounce on November 30, 2004. The highest close was $7.77 on November 29, 2004, the lowest $7.01 on November 2, 2004, and the average over 20 trading days was $7.50. Today's price is 599.1% higher than the November 2004 close.
- Silver rose 5.9% in US dollars in November 2004, leaving it up 29.7% for the year to date.
- Measured in other currencies, the change ranged from +0.7% in ZAR to +5.9% in CNY, because exchange rates moved too.
- It did better than gold (+5.3%) and US stocks (+4.0%).
- It closed higher on 12 trading days and lower on 8, with an average daily move of 1.22%.
- At the end of the month it was 5.9% below its highest close since 2000.
- Gold/silver ratio: 58.8 → 58.4.
Silver price chart, November 2004
US dollars per troy ounce · daily closeSilver in other currencies, November 2004
| Currency | Change in the month |
|---|---|
| CNY | +5.9% |
| INR | +3.9% |
| PKR | +3.5% |
| CAD | +3.3% |
| JPY | +3.1% |
| MXN | +2.8% |
| GBP | +2.0% |
| EUR | +1.9% |
| ZAR | +0.7% |
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, November 2004
| Asset | Change (USD) |
|---|---|
| Silver | +5.9% |
| Gold | +5.3% |
| S&P 500 (with dividends) | +4.0% |
| US inflation (CPI, month) | +0.05% |
| Silver, year to date (end of November) | +29.7% |
| Gold/silver ratio | 58.8 → 58.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in November 2004
- Thursday, November 18streetTRACKS Gold Shares (GLD), a gold-backed ETF, begins trading on the NYSE. SourceSilver: −1.5% that day
Daily Silver Prices, November 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 |
|---|---|---|---|---|---|
| Nov 1Mon | $7.32 | +0.34% | $0.24 | ₹10,662 | AED 863.71 |
| Nov 2Tue | $7.01 | −4.24% | $0.23 | ₹10,226 | AED 827.14 |
| Nov 3Wed | $7.15 | +1.97% | $0.23 | ₹10,391 | AED 843.50 |
| Nov 4Thu | $7.37 | +3.16% | $0.24 | ₹10,682 | AED 870.08 |
| Nov 5Fri | $7.49 | +1.66% | $0.24 | ₹10,828 | AED 884.48 |
| Nov 8Mon | $7.48 | −0.21% | $0.24 | ₹10,842 | AED 882.62 |
| Nov 9Tue | $7.53 | +0.64% | $0.24 | ₹10,906 | AED 888.31 |
| Nov 10Wed | $7.41 | −1.50% | $0.24 | ₹10,737 | AED 874.92 |
| Nov 11Thu | $7.47 | +0.78% | $0.24 | ₹10,825 | AED 881.65 |
| Nov 12Fri | $7.62 | +1.94% | $0.24 | ₹11,025 | AED 898.91 |
| Nov 15Mon | $7.57 | −0.63% | $0.24 | ₹10,941 | AED 893.22 |
| Nov 16Tue | $7.59 | +0.29% | $0.24 | ₹10,977 | AED 895.82 |
| Nov 17Wed | $7.66 | +0.96% | $0.25 | ₹11,050 | AED 904.46 |
| Nov 18Thu | $7.55 | −1.47% | $0.24 | ₹10,910 | AED 891.10 |
| Nov 19Fri | $7.60 | +0.64% | $0.24 | ₹10,977 | AED 896.79 |
| Nov 22Mon | $7.57 | −0.37% | $0.24 | ₹10,931 | AED 893.70 |
| Nov 23Tue | $7.55 | −0.21% | $0.24 | ₹10,917 | AED 891.81 |
| Nov 24Wed | $7.61 | +0.78% | $0.24 | ₹11,004 | AED 898.53 |
| Nov 29Mon | $7.77 | +2.08% | $0.25 | ₹11,170 | AED 917.18 |
| Nov 30Tue | $7.72 | −0.60% | $0.25 | ₹11,033 | AED 911.63 |
How November usually goes for silver
In the 20 years from 2006 to 2025, silver rose in November 8 times out of 20, with an average move of +1.5% and a median of −2.2%.
Silver in November 2004: FAQ
What was the price of silver in November 2004?
Silver traded between $7.01 and $7.77 per troy ounce (daily closes) in November 2004, averaging $7.50. It closed the month at $7.72.
How much did silver go up in November 2004?
Silver rose 5.9%, from $7.29 to $7.72. The biggest daily rise was +3.2% on November 4, 2004 and the biggest fall −4.2% on November 2, 2004.
What was the silver price on November 1, 2004?
Silver closed at $7.32 per troy ounce on November 1, 2004, the first trading day of the month. 999 India, ₹ per kg: ₹10,662.
Is November usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in November 8 times out of 20, with an average move of +1.5% and a median of −2.2%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in November 2004?
Silver rose 3.9% in Indian rupee terms in November 2004, compared with +5.9% in US dollars.
Did silver beat stocks in November 2004?
Yes. Silver was +5.9% for the month, against +4.0% for the S&P 500 with dividends.
Did silver keep up with inflation in November 2004?
US consumer prices (CPI) changed +0.05% in November, so silver's real (inflation-adjusted) change was about +5.9%.