Silver Price in October 2011
In October 2011, silver rose 14.3%, from $30.04 at the end of September to $34.34 per troy ounce on October 31, 2011. The highest close was $35.27 on October 28, 2011, the lowest $29.80 on October 4, 2011, and the average over 21 trading days was $32.05. Today's price is 56.2% higher than the October 2011 close.
- Silver rose 14.3% in US dollars in October 2011, leaving it up 11.1% for the year to date.
- Measured in other currencies, the change ranged from +4.6% in AUD to +13.8% in INR, because exchange rates moved too.
- It did better than gold (+6.4%) and US stocks (+10.9%).
- It closed higher on 14 trading days and lower on 7, with an average daily move of 2.42%.
- At the end of the month it was 29.3% below its highest close since 2000.
- Gold/silver ratio: 53.9 → 50.2.
Silver price chart, October 2011
US dollars per troy ounce · daily closeSilver in other currencies, October 2011
| Currency | Change in the month |
|---|---|
| INR | +13.8% |
| CNY | +13.6% |
| JPY | +12.8% |
| PKR | +11.8% |
| GBP | +10.7% |
| ZAR | +10.4% |
| MXN | +9.9% |
| EUR | +9.8% |
| CAD | +9.5% |
| TRY | +7.6% |
| AUD | +4.6% |
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, October 2011
| Asset | Change (USD) |
|---|---|
| Silver | +14.3% |
| Gold | +6.4% |
| S&P 500 (with dividends) | +10.9% |
| US inflation (CPI, month) | −0.21% |
| Silver, year to date (end of October) | +11.1% |
| Gold/silver ratio | 53.9 → 50.2 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Silver Prices, October 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 |
|---|---|---|---|---|---|
| Oct 3Mon | $30.75 | +2.36% | $0.99 | ₹48,493 | AED 3,631.16 |
| Oct 4Tue | $29.80 | −3.11% | $0.96 | ₹47,034 | AED 3,517.52 |
| Oct 5Wed | $30.32 | +1.75% | $0.97 | ₹48,056 | AED 3,579.93 |
| Oct 6Thu | $31.97 | +5.45% | $1.03 | ₹50,519 | AED 3,775.22 |
| Oct 7Fri | $30.96 | −3.17% | $1.00 | ₹48,811 | AED 3,655.72 |
| Oct 10Mon | $31.94 | +3.18% | $1.03 | ₹50,214 | AED 3,771.23 |
| Oct 11Tue | $31.96 | +0.06% | $1.03 | ₹50,162 | AED 3,773.37 |
| Oct 12Wed | $32.75 | +2.47% | $1.05 | ₹51,851 | AED 3,867.80 |
| Oct 13Thu | $31.63 | −3.42% | $1.02 | ₹49,743 | AED 3,735.33 |
| Oct 14Fri | $32.14 | +1.60% | $1.03 | ₹50,840 | AED 3,795.20 |
| Oct 17Mon | $31.79 | −1.09% | $1.02 | ₹49,974 | AED 3,754.09 |
| Oct 18Tue | $31.80 | +0.03% | $1.02 | ₹49,997 | AED 3,755.27 |
| Oct 19Wed | $31.25 | −1.73% | $1.00 | ₹49,475 | AED 3,690.34 |
| Oct 20Thu | $30.27 | −3.15% | $0.97 | ₹47,690 | AED 3,573.91 |
| Oct 21Fri | $31.17 | +3.00% | $1.00 | ₹49,971 | AED 3,681.11 |
| Oct 24Mon | $31.62 | +1.43% | $1.02 | ₹50,650 | AED 3,733.89 |
| Oct 25Tue | $33.03 | +4.47% | $1.06 | ₹52,625 | AED 3,900.76 |
| Oct 26Wed | $33.29 | +0.78% | $1.07 | ₹52,885 | AED 3,931.11 |
| Oct 27Thu | $35.10 | +5.42% | $1.13 | ₹55,694 | AED 4,144.13 |
| Oct 28Fri | $35.27 | +0.50% | $1.13 | ₹56,460 | AED 4,164.80 |
| Oct 31Mon | $34.34 | −2.65% | $1.10 | ₹53,683 | AED 4,053.74 |
How October usually goes for silver
In the 20 years from 2006 to 2025, silver rose in October 14 times out of 20, with an average move of +1.5% and a median of +1.8%.
Silver in October 2011: FAQ
What was the price of silver in October 2011?
Silver traded between $29.80 and $35.27 per troy ounce (daily closes) in October 2011, averaging $32.05. It closed the month at $34.34.
How much did silver go up in October 2011?
Silver rose 14.3%, from $30.04 to $34.34. The biggest daily rise was +5.5% on October 6, 2011 and the biggest fall −3.4% on October 13, 2011.
What was the silver price on October 3, 2011?
Silver closed at $30.75 per troy ounce on October 3, 2011, the first trading day of the month. 999 India, ₹ per kg: ₹48,493.
Is October usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in October 14 times out of 20, with an average move of +1.5% and a median of +1.8%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in October 2011?
Silver rose 13.8% in Indian rupee terms in October 2011, compared with +14.3% in US dollars.
Did silver beat stocks in October 2011?
Yes. Silver was +14.3% for the month, against +10.9% for the S&P 500 with dividends.
Did silver keep up with inflation in October 2011?
US consumer prices (CPI) changed −0.21% in October, so silver's real (inflation-adjusted) change was about +14.5%.