Silver Price in August 2011
In August 2011, silver rose 4.0%, from $40.09 at the end of July to $41.70 per troy ounce on August 31, 2011. The highest close was $43.32 on August 22, 2011, the lowest $37.88 on August 9, 2011, and the average over 23 trading days was $40.25. Today's price is 30.1% higher than the August 2011 close.
- Silver rose 4.0% in US dollars in August 2011, leaving it up 34.9% for the year to date.
- Measured in other currencies, the change ranged from +2.6% in JPY to +9.5% in ZAR, because exchange rates moved too.
- It did better than US stocks (−5.4%), and worse than gold (+12.3%).
- It closed higher on 15 trading days and lower on 8, with an average daily move of 2.56%.
- At the end of the month it was 14.2% below its highest close since 2000.
- Gold/silver ratio: 40.6 → 43.8.
Silver price chart, August 2011
US dollars per troy ounce · daily closeSilver in other currencies, August 2011
| Currency | Change in the month |
|---|---|
| ZAR | +9.5% |
| MXN | +9.3% |
| INR | +8.6% |
| TRY | +7.7% |
| CAD | +7.2% |
| AUD | +7.2% |
| PKR | +4.8% |
| GBP | +4.4% |
| EUR | +3.3% |
| CNY | +3.0% |
| JPY | +2.6% |
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, August 2011
| Asset | Change (USD) |
|---|---|
| Silver | +4.0% |
| Gold | +12.3% |
| S&P 500 (with dividends) | −5.4% |
| US inflation (CPI, month) | +0.28% |
| Silver, year to date (end of August) | +34.9% |
| Gold/silver ratio | 40.6 → 43.8 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in August 2011
- Friday, August 5Standard & Poor's downgrades the US long-term credit rating from AAA to AA+. SourceSilver: −3.1% that day
Daily Silver Prices, August 2011
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 |
|---|---|---|---|---|---|
| Aug 1Mon | $39.30 | −1.98% | $1.26 | ₹55,849 | AED 4,639.30 |
| Aug 2Tue | $40.08 | +1.99% | $1.29 | ₹56,781 | AED 4,731.74 |
| Aug 3Wed | $41.75 | +4.16% | $1.34 | ₹59,410 | AED 4,928.41 |
| Aug 4Thu | $39.42 | −5.58% | $1.27 | ₹56,159 | AED 4,653.47 |
| Aug 5Fri | $38.20 | −3.10% | $1.23 | ₹54,726 | AED 4,509.57 |
| Aug 8Mon | $39.37 | +3.08% | $1.27 | ₹56,628 | AED 4,648.27 |
| Aug 9Tue | $37.88 | −3.80% | $1.22 | ₹54,803 | AED 4,471.67 |
| Aug 10Wed | $39.33 | +3.82% | $1.26 | ₹57,151 | AED 4,642.49 |
| Aug 11Thu | $38.66 | −1.70% | $1.24 | ₹56,235 | AED 4,563.63 |
| Aug 12Fri | $39.10 | +1.15% | $1.26 | ₹56,939 | AED 4,616.17 |
| Aug 15Mon | $39.30 | +0.50% | $1.26 | ₹57,352 | AED 4,639.30 |
| Aug 16Tue | $39.82 | +1.33% | $1.28 | ₹57,911 | AED 4,701.04 |
| Aug 17Wed | $40.35 | +1.33% | $1.30 | ₹58,706 | AED 4,763.49 |
| Aug 18Thu | $40.69 | +0.84% | $1.31 | ₹59,262 | AED 4,804.72 |
| Aug 19Fri | $42.43 | +4.28% | $1.36 | ₹62,353 | AED 5,010.17 |
| Aug 22Mon | $43.32 | +2.10% | $1.39 | ₹63,600 | AED 5,115.62 |
| Aug 23Tue | $42.28 | −2.40% | $1.36 | ₹62,001 | AED 4,992.81 |
| Aug 24Wed | $39.16 | −7.39% | $1.26 | ₹57,332 | AED 4,623.91 |
| Aug 25Thu | $40.74 | +4.04% | $1.31 | ₹60,173 | AED 4,810.32 |
| Aug 26Fri | $40.95 | +0.51% | $1.32 | ₹60,571 | AED 4,834.63 |
| Aug 29Mon | $40.54 | −0.99% | $1.30 | ₹60,157 | AED 4,786.82 |
| Aug 30Tue | $41.40 | +2.11% | $1.33 | ₹61,025 | AED 4,887.88 |
| Aug 31Wed | $41.70 | +0.73% | $1.34 | ₹61,590 | AED 4,923.42 |
How August usually goes for silver
In the 20 years from 2006 to 2025, silver rose in August 10 times out of 20, with an average move of +1.8% and a median of +1.9%.
Silver in August 2011: FAQ
What was the price of silver in August 2011?
Silver traded between $37.88 and $43.32 per troy ounce (daily closes) in August 2011, averaging $40.25. It closed the month at $41.70.
How much did silver go up in August 2011?
Silver rose 4.0%, from $40.09 to $41.70. The biggest daily rise was +4.3% on August 19, 2011 and the biggest fall −7.4% on August 24, 2011.
What was the silver price on August 1, 2011?
Silver closed at $39.30 per troy ounce on August 1, 2011, the first trading day of the month. 999 India, ₹ per kg: ₹55,849.
Is August usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in August 10 times out of 20, with an average move of +1.8% and a median of +1.9%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in August 2011?
Silver rose 8.6% in Indian rupee terms in August 2011, compared with +4.0% in US dollars.
Did silver beat stocks in August 2011?
Yes. Silver was +4.0% for the month, against −5.4% for the S&P 500 with dividends.
Did silver keep up with inflation in August 2011?
US consumer prices (CPI) changed +0.28% in August, so silver's real (inflation-adjusted) change was about +3.7%.