Silver Price in March 2008
In March 2008, silver fell 12.8%, from $19.81 at the end of February to $17.28 per troy ounce on March 31, 2008. The highest close was $20.69 on March 5, 2008, the lowest $16.81 on March 20, 2008, and the average over 20 trading days was $19.16. Today's price is 213.2% higher than the March 2008 close.
- Silver fell 12.8% in US dollars in March 2008, leaving it up 16.7% for the year to date.
- Measured in other currencies, the change ranged from −16.1% in JPY to −4.6% in TRY, because exchange rates moved too.
- It did worse than gold (−5.8%) and US stocks (−0.4%).
- It closed higher on 10 trading days and lower on 10, with an average daily move of 2.68%.
- At the end of the month it was 16.5% below its highest close since 2000.
- Gold/silver ratio: 49.1 → 53.0.
Silver price chart, March 2008
US dollars per troy ounce · daily closeSilver in other currencies, March 2008
| Currency | Change in the month |
|---|---|
| TRY | −4.6% |
| ZAR | −9.4% |
| CAD | −9.4% |
| AUD | −11.3% |
| GBP | −12.7% |
| INR | −12.8% |
| PKR | −12.9% |
| MXN | −13.5% |
| CNY | −14.0% |
| EUR | −15.9% |
| JPY | −16.1% |
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, March 2008
| Asset | Change (USD) |
|---|---|
| Silver | −12.8% |
| Gold | −5.8% |
| S&P 500 (with dividends) | −0.4% |
| US inflation (CPI, month) | +0.87% |
| Silver, year to date (end of March) | +16.7% |
| Gold/silver ratio | 49.1 → 53.0 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in March 2008
- Sunday, March 16JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. SourceSilver: −1.7% next trading day (Mar 17)
Daily Silver Prices, March 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 |
|---|---|---|---|---|---|
| Mar 3Mon | $20.07 | +1.34% | $0.65 | ₹25,978 | AED 2,369.45 |
| Mar 4Tue | $19.74 | −1.67% | $0.63 | ₹25,516 | AED 2,329.90 |
| Mar 5Wed | $20.69 | +4.80% | $0.67 | ₹26,717 | AED 2,442.22 |
| Mar 6Thu | $20.13 | −2.68% | $0.65 | ₹25,918 | AED 2,376.29 |
| Mar 7Fri | $20.16 | +0.13% | $0.65 | ₹26,079 | AED 2,378.51 |
| Mar 10Mon | $19.70 | −2.28% | $0.63 | ₹25,531 | AED 2,325.24 |
| Mar 11Tue | $19.68 | −0.11% | $0.63 | ₹25,415 | AED 2,322.65 |
| Mar 12Wed | $19.91 | +1.19% | $0.64 | ₹25,593 | AED 2,348.72 |
| Mar 13Thu | $20.34 | +2.15% | $0.65 | ₹26,238 | AED 2,399.54 |
| Mar 14Fri | $20.57 | +1.16% | $0.66 | ₹26,508 | AED 2,427.59 |
| Mar 17Mon | $20.22 | −1.71% | $0.65 | ₹26,249 | AED 2,386.38 |
| Mar 18Tue | $19.89 | −1.64% | $0.64 | ₹25,678 | AED 2,347.53 |
| Mar 19Wed | $18.40 | −7.52% | $0.59 | ₹23,735 | AED 2,171.37 |
| Mar 20Thu | $16.81 | −8.64% | $0.54 | ₹21,760 | AED 1,983.69 |
| Mar 24Mon | $17.07 | +1.56% | $0.55 | ₹22,050 | AED 2,014.61 |
| Mar 25Tue | $17.76 | +4.07% | $0.57 | ₹22,872 | AED 2,096.65 |
| Mar 26Wed | $18.35 | +3.29% | $0.59 | ₹23,627 | AED 2,164.70 |
| Mar 27Thu | $18.51 | +0.91% | $0.60 | ₹23,776 | AED 2,184.71 |
| Mar 28Fri | $17.90 | −3.31% | $0.58 | ₹22,798 | AED 2,113.00 |
| Mar 31Mon | $17.28 | −3.49% | $0.56 | ₹22,155 | AED 2,039.22 |
How March usually goes for silver
In the 20 years from 2006 to 2025, silver rose in March 9 times out of 20, with an average move of +1.0% and a median of −0.5%.
Silver in March 2008: FAQ
What was the price of silver in March 2008?
Silver traded between $16.81 and $20.69 per troy ounce (daily closes) in March 2008, averaging $19.16. It closed the month at $17.28.
How much did silver go down in March 2008?
Silver fell 12.8%, from $19.81 to $17.28. The biggest daily rise was +4.8% on March 5, 2008 and the biggest fall −8.6% on March 20, 2008.
What was the silver price on March 3, 2008?
Silver closed at $20.07 per troy ounce on March 3, 2008, the first trading day of the month. 999 India, ₹ per kg: ₹25,978.
Is March usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in March 9 times out of 20, with an average move of +1.0% and a median of −0.5%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in March 2008?
Silver fell 12.8% in Indian rupee terms in March 2008, compared with −12.8% in US dollars.
Did silver beat stocks in March 2008?
No. Silver was −12.8% for the month, against −0.4% for the S&P 500 with dividends.
Did silver keep up with inflation in March 2008?
US consumer prices (CPI) changed +0.87% in March, so silver's real (inflation-adjusted) change was about −13.5%.