Silver Price in August 2020
In August 2020, silver rose 17.6%, from $24.19 at the end of July to $28.44 per troy ounce on August 31, 2020. The highest close was $29.25 on August 10, 2020, the lowest $24.39 on August 3, 2020, and the average over 21 trading days was $27.06. Today's price is 89.3% higher than the August 2020 close.
- Silver rose 17.6% in US dollars in August 2020, leaving it up 59.5% for the year to date.
- Measured in other currencies, the change ranged from +14.6% in CAD to +23.6% in TRY, because exchange rates moved too.
- It did better than gold (+0.8%), bitcoin (+3.2%) and US stocks (+7.2%).
- It closed higher on 11 trading days and lower on 10, with an average daily move of 3.56%.
- At the end of the month it was 41.5% below its highest close since 2000.
- Gold/silver ratio: 81.1 → 69.6.
Silver price chart, August 2020
US dollars per troy ounce · daily closeSilver in other currencies, August 2020
| Currency | Change in the month |
|---|---|
| TRY | +23.6% |
| JPY | +18.5% |
| EUR | +17.1% |
| PKR | +16.8% |
| ZAR | +16.5% |
| MXN | +16.2% |
| GBP | +15.5% |
| CNY | +15.2% |
| AUD | +14.9% |
| INR | +14.6% |
| CAD | +14.6% |
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 2020
| Asset | Change (USD) |
|---|---|
| Silver | +17.6% |
| Gold | +0.8% |
| Bitcoin | +3.2% |
| S&P 500 (with dividends) | +7.2% |
| US inflation (CPI, month) | +0.32% |
| Silver, year to date (end of August) | +59.5% |
| Gold/silver ratio | 81.1 → 69.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in August 2020
- Tuesday, August 4Gold rises above $2,000 an ounce for the first time. SourceSilver: +6.7% that day
Daily Silver Prices, August 2020
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 3Mon | $24.39 | +0.83% | $0.78 | ₹58,747 | AED 2,879.27 |
| Aug 4Tue | $26.01 | +6.65% | $0.84 | ₹62,999 | AED 3,071.08 |
| Aug 5Wed | $26.88 | +3.33% | $0.86 | ₹65,025 | AED 3,173.21 |
| Aug 6Thu | $28.39 | +5.62% | $0.91 | ₹68,342 | AED 3,351.12 |
| Aug 7Fri | $27.53 | −3.01% | $0.89 | ₹66,302 | AED 3,250.66 |
| Aug 10Mon | $29.25 | +6.23% | $0.94 | ₹70,552 | AED 3,452.78 |
| Aug 11Tue | $26.04 | −10.98% | $0.84 | ₹62,867 | AED 3,074.03 |
| Aug 12Wed | $25.96 | −0.31% | $0.83 | ₹62,502 | AED 3,064.35 |
| Aug 13Thu | $27.69 | +6.70% | $0.89 | ₹66,576 | AED 3,269.66 |
| Aug 14Fri | $26.07 | −5.88% | $0.84 | ₹62,876 | AED 3,077.34 |
| Aug 17Mon | $27.64 | +6.05% | $0.89 | ₹66,569 | AED 3,263.29 |
| Aug 18Tue | $28.05 | +1.47% | $0.90 | ₹67,635 | AED 3,312.39 |
| Aug 19Wed | $27.32 | −2.62% | $0.88 | ₹65,685 | AED 3,224.74 |
| Aug 20Thu | $27.12 | −0.71% | $0.87 | ₹65,370 | AED 3,202.13 |
| Aug 21Fri | $26.71 | −1.53% | $0.86 | ₹64,399 | AED 3,153.13 |
| Aug 24Mon | $26.59 | −0.45% | $0.85 | ₹64,045 | AED 3,139.34 |
| Aug 25Tue | $26.25 | −1.26% | $0.84 | ₹62,800 | AED 3,099.65 |
| Aug 26Wed | $27.43 | +4.48% | $0.88 | ₹65,659 | AED 3,238.49 |
| Aug 27Thu | $27.01 | −1.53% | $0.87 | ₹64,469 | AED 3,188.91 |
| Aug 28Fri | $27.61 | +2.22% | $0.89 | ₹65,488 | AED 3,259.75 |
| Aug 31Mon | $28.44 | +3.00% | $0.91 | ₹66,859 | AED 3,357.66 |
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 2020: FAQ
What was the price of silver in August 2020?
Silver traded between $24.39 and $29.25 per troy ounce (daily closes) in August 2020, averaging $27.06. It closed the month at $28.44.
How much did silver go up in August 2020?
Silver rose 17.6%, from $24.19 to $28.44. The biggest daily rise was +6.7% on August 13, 2020 and the biggest fall −11.0% on August 11, 2020.
What was the silver price on August 3, 2020?
Silver closed at $24.39 per troy ounce on August 3, 2020, the first trading day of the month. 999 India, ₹ per kg: ₹58,747.
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 2020?
Silver rose 14.6% in Indian rupee terms in August 2020, compared with +17.6% in US dollars.
Did silver beat stocks in August 2020?
Yes. Silver was +17.6% for the month, against +7.2% for the S&P 500 with dividends.
Did silver keep up with inflation in August 2020?
US consumer prices (CPI) changed +0.32% in August, so silver's real (inflation-adjusted) change was about +17.2%.