Silver Price in December 2008
In December 2008, silver rose 10.7%, from $10.19 at the end of November to $11.27 per troy ounce on December 31, 2008. The highest close was $11.39 on December 17, 2008, the lowest $9.35 on December 1, 2008, and the average over 22 trading days was $10.33. Today's price is 376.3% higher than the December 2008 close.
- Silver rose 10.7% in US dollars in December 2008, leaving it down 23.8% for the year to date.
- Measured in other currencies, the change ranged from +0.5% in EUR to +16.2% in GBP, because exchange rates moved too.
- It did better than gold (+8.3%) and US stocks (+1.1%).
- It closed higher on 13 trading days and lower on 9, with an average daily move of 2.69%.
- At the end of the month it was 45.5% below its highest close since 2000.
- Gold/silver ratio: 80.1 → 78.4.
Silver price chart, December 2008
US dollars per troy ounce · daily closeSilver in other currencies, December 2008
| Currency | Change in the month |
|---|---|
| GBP | +16.2% |
| MXN | +13.7% |
| PKR | +11.3% |
| CNY | +10.6% |
| CAD | +8.9% |
| INR | +6.6% |
| TRY | +5.5% |
| JPY | +5.0% |
| ZAR | +3.9% |
| AUD | +2.6% |
| EUR | +0.5% |
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, December 2008
| Asset | Change (USD) |
|---|---|
| Silver | +10.7% |
| Gold | +8.3% |
| S&P 500 (with dividends) | +1.1% |
| US inflation (CPI, month) | −1.03% |
| Silver, year to date (end of December) | −23.8% |
| Gold/silver ratio | 80.1 → 78.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in December 2008
- Tuesday, December 16Fed cuts its federal funds target to a range of 0 to 0.25%. SourceSilver: +0.8% that day
Daily Silver Prices, December 2008
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 |
|---|---|---|---|---|---|
| Dec 1Mon | $9.35 | −8.20% | $0.30 | ₹15,087 | AED 1,103.54 |
| Dec 2Tue | $9.59 | +2.57% | $0.31 | ₹15,444 | AED 1,132.17 |
| Dec 3Wed | $9.56 | −0.27% | $0.31 | ₹15,328 | AED 1,129.10 |
| Dec 4Thu | $9.49 | −0.76% | $0.31 | ₹15,128 | AED 1,120.51 |
| Dec 5Fri | $9.40 | −0.95% | $0.30 | ₹14,980 | AED 1,109.89 |
| Dec 8Mon | $9.94 | +5.73% | $0.32 | ₹15,794 | AED 1,173.17 |
| Dec 9Tue | $9.82 | −1.26% | $0.32 | ₹15,428 | AED 1,158.42 |
| Dec 10Wed | $10.17 | +3.57% | $0.33 | ₹16,005 | AED 1,200.09 |
| Dec 11Thu | $10.39 | +2.21% | $0.33 | ₹16,164 | AED 1,226.62 |
| Dec 12Fri | $10.20 | −1.84% | $0.33 | ₹15,816 | AED 1,204.10 |
| Dec 15Mon | $10.59 | +3.82% | $0.34 | ₹16,167 | AED 1,250.15 |
| Dec 16Tue | $10.67 | +0.80% | $0.34 | ₹16,393 | AED 1,259.80 |
| Dec 17Wed | $11.39 | +6.70% | $0.37 | ₹17,419 | AED 1,344.19 |
| Dec 18Thu | $11.09 | −2.63% | $0.36 | ₹16,631 | AED 1,308.46 |
| Dec 19Fri | $10.82 | −2.43% | $0.35 | ₹16,362 | AED 1,276.60 |
| Dec 22Mon | $10.83 | +0.09% | $0.35 | ₹16,688 | AED 1,278.10 |
| Dec 23Tue | $10.23 | −5.50% | $0.33 | ₹15,999 | AED 1,207.75 |
| Dec 24Wed | $10.32 | +0.88% | $0.33 | ₹15,955 | AED 1,218.38 |
| Dec 26Fri | $10.50 | +1.74% | $0.34 | ₹16,439 | AED 1,239.99 |
| Dec 29Mon | $10.78 | +2.67% | $0.35 | ₹16,647 | AED 1,273.01 |
| Dec 30Tue | $10.96 | +1.60% | $0.35 | ₹17,065 | AED 1,293.04 |
| Dec 31Wed | $11.27 | +2.88% | $0.36 | ₹17,416 | AED 1,330.22 |
How December usually goes for silver
In the 20 years from 2006 to 2025, silver rose in December 11 times out of 20, with an average move of +2.0% and a median of +1.5%.
Silver in December 2008: FAQ
What was the price of silver in December 2008?
Silver traded between $9.35 and $11.39 per troy ounce (daily closes) in December 2008, averaging $10.33. It closed the month at $11.27.
How much did silver go up in December 2008?
Silver rose 10.7%, from $10.19 to $11.27. The biggest daily rise was +6.7% on December 17, 2008 and the biggest fall −8.2% on December 1, 2008.
What was the silver price on December 1, 2008?
Silver closed at $9.35 per troy ounce on December 1, 2008, the first trading day of the month. 999 India, ₹ per kg: ₹15,087.
Is December usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in December 11 times out of 20, with an average move of +2.0% and a median of +1.5%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in December 2008?
Silver rose 6.6% in Indian rupee terms in December 2008, compared with +10.7% in US dollars.
Did silver beat stocks in December 2008?
Yes. Silver was +10.7% for the month, against +1.1% for the S&P 500 with dividends.
Did silver keep up with inflation in December 2008?
US consumer prices (CPI) changed −1.03% in December, so silver's real (inflation-adjusted) change was about +11.8%.