Silver Price in March 2020
In March 2020, silver fell 14.0%, from $16.39 at the end of February to $14.10 per troy ounce on March 31, 2020. The highest close was $17.34 on March 5, 2020, the lowest $11.74 on March 18, 2020, and the average over 22 trading days was $14.89. Today's price is 281.9% higher than the March 2020 close.
- Silver fell 14.0% in US dollars in March 2020, leaving it down 20.9% for the year to date.
- Measured in other currencies, the change ranged from −15.2% in JPY to +5.4% in MXN, because exchange rates moved too.
- It did better than bitcoin (−25.1%), and worse than gold (+1.2%) and US stocks (−12.4%).
- It closed higher on 10 trading days and lower on 12, with an average daily move of 3.31%.
- At the end of the month it was 71.0% below its highest close since 2000.
- Gold/silver ratio: 95.4 → 112.3.
Silver price chart, March 2020
US dollars per troy ounce · daily closeSilver in other currencies, March 2020
| Currency | Change in the month |
|---|---|
| MXN | +5.4% |
| ZAR | −0.3% |
| PKR | −7.1% |
| AUD | −8.2% |
| CAD | −8.9% |
| TRY | −9.0% |
| INR | −9.8% |
| GBP | −10.4% |
| CNY | −12.8% |
| EUR | −14.2% |
| JPY | −15.2% |
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 2020
| Asset | Change (USD) |
|---|---|
| Silver | −14.0% |
| Gold | +1.2% |
| Bitcoin | −25.1% |
| S&P 500 (with dividends) | −12.4% |
| US inflation (CPI, month) | −0.22% |
| Silver, year to date (end of March) | −20.9% |
| Gold/silver ratio | 95.4 → 112.3 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in March 2020
Daily Silver Prices, March 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 |
|---|---|---|---|---|---|
| Mar 2Mon | $16.68 | +1.78% | $0.54 | ₹38,690 | AED 1,969.46 |
| Mar 3Tue | $17.13 | +2.70% | $0.55 | ₹40,105 | AED 2,022.32 |
| Mar 4Wed | $17.19 | +0.34% | $0.55 | ₹40,527 | AED 2,029.17 |
| Mar 5Thu | $17.34 | +0.90% | $0.56 | ₹41,283 | AED 2,047.47 |
| Mar 6Fri | $17.21 | −0.74% | $0.55 | ₹40,875 | AED 2,032.35 |
| Mar 9Mon | $17.00 | −1.24% | $0.55 | ₹40,445 | AED 2,007.48 |
| Mar 10Tue | $16.91 | −0.56% | $0.54 | ₹40,443 | AED 1,995.99 |
| Mar 11Wed | $16.73 | −1.05% | $0.54 | ₹39,911 | AED 1,975.47 |
| Mar 12Thu | $15.96 | −4.59% | $0.51 | ₹38,364 | AED 1,884.42 |
| Mar 13Fri | $14.46 | −9.43% | $0.46 | ₹34,997 | AED 1,706.73 |
| Mar 16Mon | $12.77 | −11.65% | $0.41 | ₹30,347 | AED 1,508.08 |
| Mar 17Tue | $12.47 | −2.37% | $0.40 | ₹30,129 | AED 1,472.18 |
| Mar 18Wed | $11.74 | −5.89% | $0.38 | ₹27,924 | AED 1,385.48 |
| Mar 19Thu | $12.10 | +3.08% | $0.39 | ₹29,163 | AED 1,428.22 |
| Mar 20Fri | $12.35 | +2.08% | $0.40 | ₹29,841 | AED 1,457.97 |
| Mar 23Mon | $13.23 | +7.09% | $0.43 | ₹32,154 | AED 1,561.48 |
| Mar 24Tue | $14.23 | +7.59% | $0.46 | ₹34,999 | AED 1,679.93 |
| Mar 25Wed | $14.84 | +4.27% | $0.48 | ₹36,855 | AED 1,751.72 |
| Mar 26Thu | $14.64 | −1.33% | $0.47 | ₹35,699 | AED 1,728.41 |
| Mar 27Fri | $14.50 | −0.97% | $0.47 | ₹34,831 | AED 1,711.60 |
| Mar 30Mon | $14.07 | −2.92% | $0.45 | ₹34,147 | AED 1,661.54 |
| Mar 31Tue | $14.10 | +0.17% | $0.45 | ₹34,176 | AED 1,664.47 |
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 2020: FAQ
What was the price of silver in March 2020?
Silver traded between $11.74 and $17.34 per troy ounce (daily closes) in March 2020, averaging $14.89. It closed the month at $14.10.
How much did silver go down in March 2020?
Silver fell 14.0%, from $16.39 to $14.10. The biggest daily rise was +7.6% on March 24, 2020 and the biggest fall −11.6% on March 16, 2020.
What was the silver price on March 2, 2020?
Silver closed at $16.68 per troy ounce on March 2, 2020, the first trading day of the month. 999 India, ₹ per kg: ₹38,690.
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 2020?
Silver fell 9.8% in Indian rupee terms in March 2020, compared with −14.0% in US dollars.
Did silver beat stocks in March 2020?
No. Silver was −14.0% for the month, against −12.4% for the S&P 500 with dividends.
Did silver keep up with inflation in March 2020?
US consumer prices (CPI) changed −0.22% in March, so silver's real (inflation-adjusted) change was about −13.8%.