Silver Price in November 2008
In November 2008, silver rose 4.7%, from $9.73 at the end of October to $10.19 per troy ounce on November 28, 2008. The highest close was $10.46 on November 5, 2008, the lowest $8.80 on November 13, 2008, and the average over 19 trading days was $9.78. Today's price is 429.8% higher than the November 2008 close.
- Silver rose 4.7% in US dollars in November 2008, leaving it down 31.2% for the year to date.
- Measured in other currencies, the change ranged from +0.9% in PKR to +9.5% in MXN, because exchange rates moved too.
- It did better than US stocks (−7.2%), and worse than gold (+13.9%).
- It closed higher on 8 trading days and lower on 11, with an average daily move of 3.29%.
- At the end of the month it was 50.8% below its highest close since 2000.
- Gold/silver ratio: 73.7 → 80.1.
Silver price chart, November 2008
US dollars per troy ounce · daily closeSilver in other currencies, November 2008
| Currency | Change in the month |
|---|---|
| MXN | +9.5% |
| GBP | +9.4% |
| TRY | +7.6% |
| CAD | +7.3% |
| AUD | +7.1% |
| ZAR | +6.7% |
| INR | +5.7% |
| EUR | +4.7% |
| CNY | +4.5% |
| JPY | +1.6% |
| PKR | +0.9% |
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 2008
| Asset | Change (USD) |
|---|---|
| Silver | +4.7% |
| Gold | +13.9% |
| S&P 500 (with dividends) | −7.2% |
| US inflation (CPI, month) | −1.92% |
| Silver, year to date (end of November) | −31.2% |
| Gold/silver ratio | 73.7 → 80.1 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, November 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 |
|---|---|---|---|---|---|
| Nov 3Mon | $9.75 | +0.21% | $0.31 | ₹15,163 | AED 1,151.19 |
| Nov 4Tue | $10.13 | +3.90% | $0.33 | ₹15,520 | AED 1,195.76 |
| Nov 5Wed | $10.46 | +3.21% | $0.34 | ₹15,875 | AED 1,233.99 |
| Nov 6Thu | $10.06 | −3.83% | $0.32 | ₹15,348 | AED 1,187.04 |
| Nov 7Fri | $9.96 | −0.91% | $0.32 | ₹15,233 | AED 1,176.14 |
| Nov 10Mon | $10.22 | +2.58% | $0.33 | ₹15,539 | AED 1,206.38 |
| Nov 11Tue | $9.81 | −4.06% | $0.32 | ₹15,096 | AED 1,157.24 |
| Nov 12Wed | $9.48 | −3.31% | $0.30 | ₹15,022 | AED 1,119.03 |
| Nov 13Thu | $8.80 | −7.17% | $0.28 | ₹13,862 | AED 1,039.05 |
| Nov 14Fri | $9.49 | +7.84% | $0.31 | ₹14,884 | AED 1,120.49 |
| Nov 17Mon | $9.33 | −1.69% | $0.30 | ₹14,634 | AED 1,101.33 |
| Nov 18Tue | $9.55 | +2.36% | $0.31 | ₹15,224 | AED 1,127.14 |
| Nov 19Wed | $9.31 | −2.51% | $0.30 | ₹14,862 | AED 1,098.97 |
| Nov 20Thu | $9.03 | −3.06% | $0.29 | ₹14,624 | AED 1,065.18 |
| Nov 21Fri | $9.48 | +5.04% | $0.30 | ₹15,102 | AED 1,119.22 |
| Nov 24Mon | $10.36 | +9.23% | $0.33 | ₹16,577 | AED 1,222.52 |
| Nov 25Tue | $10.27 | −0.82% | $0.33 | ₹16,372 | AED 1,212.12 |
| Nov 26Wed | $10.22 | −0.49% | $0.33 | ₹16,195 | AED 1,206.58 |
| Nov 28Fri | $10.19 | −0.34% | $0.33 | ₹16,330 | AED 1,202.61 |
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 2008: FAQ
What was the price of silver in November 2008?
Silver traded between $8.80 and $10.46 per troy ounce (daily closes) in November 2008, averaging $9.78. It closed the month at $10.19.
How much did silver go up in November 2008?
Silver rose 4.7%, from $9.73 to $10.19. The biggest daily rise was +9.2% on November 24, 2008 and the biggest fall −7.2% on November 13, 2008.
What was the silver price on November 3, 2008?
Silver closed at $9.75 per troy ounce on November 3, 2008, the first trading day of the month. 999 India, ₹ per kg: ₹15,163.
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 2008?
Silver rose 5.7% in Indian rupee terms in November 2008, compared with +4.7% in US dollars.
Did silver beat stocks in November 2008?
Yes. Silver was +4.7% for the month, against −7.2% for the S&P 500 with dividends.
Did silver keep up with inflation in November 2008?
US consumer prices (CPI) changed −1.92% in November, so silver's real (inflation-adjusted) change was about +6.7%.