Silver Price in January 2008
In January 2008, silver rose 14.5%, from $14.80 at the end of December to $16.95 per troy ounce on January 31, 2008. The highest close was $16.95 on January 31, 2008, the lowest $15.17 on January 2, 2008, and the average over 21 trading days was $16.05. Today's price is 218.3% higher than the January 2008 close.
- Silver rose 14.5% in US dollars in January 2008.
- Measured in other currencies, the change ranged from +9.0% in JPY to +25.5% in ZAR, because exchange rates moved too.
- It did better than gold (+10.5%) and US stocks (−6.0%).
- It closed higher on 14 trading days and lower on 7, with an average daily move of 1.25%.
- Gold/silver ratio: 56.4 → 54.4.
Silver price chart, January 2008
US dollars per troy ounce · daily closeSilver in other currencies, January 2008
| Currency | Change in the month |
|---|---|
| ZAR | +25.5% |
| PKR | +15.8% |
| TRY | +15.1% |
| CAD | +15.0% |
| INR | +14.7% |
| GBP | +14.3% |
| MXN | +13.7% |
| CNY | +12.6% |
| EUR | +12.5% |
| AUD | +11.8% |
| JPY | +9.0% |
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 2008
| Asset | Change (USD) |
|---|---|
| Silver | +14.5% |
| Gold | +10.5% |
| S&P 500 (with dividends) | −6.0% |
| US inflation (CPI, month) | +0.50% |
| Gold/silver ratio | 56.4 → 54.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, January 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 |
|---|---|---|---|---|---|
| Jan 2Wed | $15.17 | +2.50% | $0.49 | ₹19,200 | AED 1,790.09 |
| Jan 3Thu | $15.38 | +1.42% | $0.49 | ₹19,462 | AED 1,816.06 |
| Jan 4Fri | $15.35 | −0.23% | $0.49 | ₹19,289 | AED 1,811.81 |
| Jan 7Mon | $15.18 | −1.08% | $0.49 | ₹19,138 | AED 1,792.36 |
| Jan 8Tue | $15.71 | +3.47% | $0.50 | ₹19,794 | AED 1,854.13 |
| Jan 9Wed | $15.73 | +0.17% | $0.51 | ₹19,836 | AED 1,857.52 |
| Jan 10Thu | $16.17 | +2.79% | $0.52 | ₹20,391 | AED 1,909.34 |
| Jan 11Fri | $16.27 | +0.62% | $0.52 | ₹20,454 | AED 1,921.15 |
| Jan 14Mon | $16.33 | +0.32% | $0.52 | ₹20,583 | AED 1,927.34 |
| Jan 15Tue | $16.21 | −0.74% | $0.52 | ₹20,419 | AED 1,913.12 |
| Jan 16Wed | $15.81 | −2.46% | $0.51 | ₹19,907 | AED 1,866.14 |
| Jan 17Thu | $15.93 | +0.78% | $0.51 | ₹20,072 | AED 1,880.66 |
| Jan 18Fri | $16.14 | +1.31% | $0.52 | ₹20,382 | AED 1,905.37 |
| Jan 22Tue | $16.03 | −0.67% | $0.52 | ₹20,259 | AED 1,892.51 |
| Jan 23Wed | $15.90 | −0.80% | $0.51 | ₹20,181 | AED 1,877.10 |
| Jan 24Thu | $16.27 | +2.33% | $0.52 | ₹20,597 | AED 1,920.94 |
| Jan 25Fri | $16.43 | +0.95% | $0.53 | ₹20,744 | AED 1,937.65 |
| Jan 28Mon | $16.69 | +1.59% | $0.54 | ₹21,086 | AED 1,970.17 |
| Jan 29Tue | $16.75 | +0.33% | $0.54 | ₹21,109 | AED 1,976.82 |
| Jan 30Wed | $16.71 | −0.20% | $0.54 | ₹21,140 | AED 1,972.38 |
| Jan 31Thu | $16.95 | +1.42% | $0.54 | ₹21,422 | AED 1,999.75 |
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 2008: FAQ
What was the price of silver in January 2008?
Silver traded between $15.17 and $16.95 per troy ounce (daily closes) in January 2008, averaging $16.05. It closed the month at $16.95.
How much did silver go up in January 2008?
Silver rose 14.5%, from $14.80 to $16.95. The biggest daily rise was +3.5% on January 8, 2008 and the biggest fall −2.5% on January 16, 2008.
What was the silver price on January 2, 2008?
Silver closed at $15.17 per troy ounce on January 2, 2008, the first trading day of the month. 999 India, ₹ per kg: ₹19,200.
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 2008?
Silver rose 14.7% in Indian rupee terms in January 2008, compared with +14.5% in US dollars.
Did silver beat stocks in January 2008?
Yes. Silver was +14.5% for the month, against −6.0% for the S&P 500 with dividends.
Did silver keep up with inflation in January 2008?
US consumer prices (CPI) changed +0.50% in January, so silver's real (inflation-adjusted) change was about +14.0%.