Silver Price in August 2024
In August 2024, silver fell 0.2%, from $28.78 at the end of July to $28.73 per troy ounce on August 30, 2024. The highest close was $29.98 on August 26, 2024, the lowest $26.83 on August 7, 2024, and the average over 22 trading days was $28.50. Today's price is 87.4% higher than the August 2024 close.
- Silver fell 0.2% in US dollars in August 2024, leaving it up 20.5% for the year to date.
- Measured in other currencies, the change ranged from −5.3% in JPY to +5.6% in MXN, because exchange rates moved too.
- It did better than bitcoin (−8.7%), and worse than gold (+4.2%) and US stocks (+2.4%).
- It closed higher on 11 trading days and lower on 11, with an average daily move of 1.51%.
- At the end of the month it was 40.9% below its highest close since 2000.
- Gold/silver ratio: 84.3 → 88.0.
- The biggest reaction to a scheduled US release was to the CPI inflation (July 2024) on 14 August: −1.6% that day.
Silver price chart, August 2024
US dollars per troy ounce · daily closeSilver in other currencies, August 2024
| Currency | Change in the month |
|---|---|
| MXN | +5.6% |
| TRY | +2.8% |
| INR | 0.0% |
| PKR | −0.3% |
| CNY | −2.3% |
| EUR | −2.5% |
| GBP | −2.7% |
| CAD | −2.8% |
| ZAR | −3.3% |
| AUD | −3.9% |
| JPY | −5.3% |
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 2024
| Asset | Change (USD) |
|---|---|
| Silver | −0.2% |
| Gold | +4.2% |
| Bitcoin | −8.7% |
| S&P 500 (with dividends) | +2.4% |
| US inflation (CPI, month) | +0.08% |
| Silver, year to date (end of August) | +20.5% |
| Gold/silver ratio | 84.3 → 88.0 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
The Fed and US Data in August 2024
Scheduled US releases this month and how silver moved. For Fed decisions the move covers two sessions, because the statement comes after the gold futures settle.
| Date | Release | Result | Silver |
|---|---|---|---|
| Fri 2 Aug | Jobs report (July 2024) | — | −0.3% |
| Wed 14 Aug | CPI inflation (July 2024) | — | −1.6% |
Daily Silver Prices, August 2024
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 1Thu | $28.33 | −1.55% | $0.91 | ₹76,255 | AED 3,344.69 |
| Aug 2Fri | $28.25 | −0.30% | $0.91 | ₹76,050 | AED 3,334.65 |
| Aug 5Mon | $27.08 | −4.14% | $0.87 | ₹72,893 | AED 3,197.14 |
| Aug 6Tue | $27.10 | +0.07% | $0.87 | ₹73,179 | AED 3,198.89 |
| Aug 7Wed | $26.83 | −0.98% | $0.86 | ₹72,403 | AED 3,167.48 |
| Aug 8Thu | $27.50 | +2.50% | $0.88 | ₹74,217 | AED 3,246.58 |
| Aug 9Fri | $27.49 | −0.05% | $0.88 | ₹74,223 | AED 3,245.05 |
| Aug 12Mon | $27.92 | +1.56% | $0.90 | ₹75,349 | AED 3,296.44 |
| Aug 13Tue | $27.70 | −0.80% | $0.89 | ₹74,697 | AED 3,269.60 |
| Aug 14Wed | $27.25 | −1.59% | $0.88 | ₹73,500 | AED 3,217.54 |
| Aug 15Thu | $28.34 | +3.99% | $0.91 | ₹76,516 | AED 3,345.99 |
| Aug 16Fri | $28.78 | +1.54% | $0.93 | ₹77,672 | AED 3,397.46 |
| Aug 19Mon | $29.24 | +1.61% | $0.94 | ₹78,864 | AED 3,452.66 |
| Aug 20Tue | $29.46 | +0.74% | $0.95 | ₹79,433 | AED 3,477.38 |
| Aug 21Wed | $29.48 | +0.07% | $0.95 | ₹79,396 | AED 3,479.86 |
| Aug 22Thu | $29.01 | −1.59% | $0.93 | ₹78,232 | AED 3,424.28 |
| Aug 23Fri | $29.79 | +2.69% | $0.96 | ₹80,385 | AED 3,516.37 |
| Aug 26Mon | $29.98 | +0.64% | $0.96 | ₹80,778 | AED 3,539.59 |
| Aug 27Tue | $29.95 | −0.09% | $0.96 | ₹80,776 | AED 3,535.85 |
| Aug 28Wed | $29.18 | −2.59% | $0.94 | ₹78,721 | AED 3,444.35 |
| Aug 29Thu | $29.56 | +1.31% | $0.95 | ₹79,768 | AED 3,489.33 |
| Aug 30Fri | $28.73 | −2.79% | $0.92 | ₹77,496 | AED 3,392.56 |
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 2024: FAQ
What was the price of silver in August 2024?
Silver traded between $26.83 and $29.98 per troy ounce (daily closes) in August 2024, averaging $28.50. It closed the month at $28.73.
How much did silver go down in August 2024?
Silver fell 0.2%, from $28.78 to $28.73. The biggest daily rise was +4.0% on August 15, 2024 and the biggest fall −4.1% on August 5, 2024.
What was the silver price on August 1, 2024?
Silver closed at $28.33 per troy ounce on August 1, 2024, the first trading day of the month. 999 India, ₹ per kg: ₹76,255.
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 2024?
Silver rose 0.0% in Indian rupee terms in August 2024, compared with −0.2% in US dollars.
Did silver beat stocks in August 2024?
No. Silver was −0.2% for the month, against +2.4% for the S&P 500 with dividends.
How did silver react to the Fed and US data in August 2024?
Of 2 scheduled US releases this month, the biggest move came after the CPI inflation (July 2024) on 14 August: −1.6%. The full list with each reaction is on this page.
Did silver keep up with inflation in August 2024?
US consumer prices (CPI) changed +0.08% in August, so silver's real (inflation-adjusted) change was about −0.2%.