Silver Price in March 2024
In March 2024, silver rose 9.4%, from $22.67 at the end of February to $24.80 per troy ounce on March 28, 2024. The highest close was $25.20 on March 15, 2024, the lowest $23.15 on March 1, 2024, and the average over 20 trading days was $24.53. Today's price is 116.9% higher than the March 2024 close.
- Silver rose 9.4% in US dollars in March 2024, leaving it up 4.0% for the year to date.
- Measured in other currencies, the change ranged from +6.0% in MXN to +13.2% in TRY, because exchange rates moved too.
- It did better than gold (+7.9%) and US stocks (+3.2%), and worse than bitcoin (+16.6%).
- It closed higher on 10 trading days and lower on 10, with an average daily move of 0.95%.
- At the end of the month it was 49.0% below its highest close since 2000.
- Gold/silver ratio: 90.7 → 89.4.
- The biggest reaction to a scheduled US release was to the CPI inflation (February 2024) on 12 March: −1.3% that day.
Silver price chart, March 2024
US dollars per troy ounce · daily closeSilver in other currencies, March 2024
| Currency | Change in the month |
|---|---|
| TRY | +13.2% |
| INR | +10.0% |
| JPY | +9.9% |
| CNY | +9.9% |
| GBP | +9.8% |
| EUR | +9.7% |
| PKR | +9.6% |
| CAD | +9.5% |
| AUD | +8.9% |
| ZAR | +7.5% |
| MXN | +6.0% |
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 2024
| Asset | Change (USD) |
|---|---|
| Silver | +9.4% |
| Gold | +7.9% |
| Bitcoin | +16.6% |
| S&P 500 (with dividends) | +3.2% |
| US inflation (CPI, month) | +0.65% |
| Silver, year to date (end of March) | +4.0% |
| Gold/silver ratio | 90.7 → 89.4 |
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 March 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 8 Mar | Jobs report (February 2024) | — | −0.1% |
| Tue 12 Mar | CPI inflation (February 2024) | — | −1.3% |
| Wed 20 Mar | Fed rate decision + projections | Rates unchanged (5.25–5.50%) | −0.5% |
Daily Silver Prices, March 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 |
|---|---|---|---|---|---|
| Mar 1Fri | $23.15 | +2.14% | $0.74 | ₹61,709 | AED 2,733.03 |
| Mar 4Mon | $23.78 | +2.72% | $0.76 | ₹63,337 | AED 2,807.67 |
| Mar 5Tue | $23.76 | −0.07% | $0.76 | ₹63,343 | AED 2,805.40 |
| Mar 6Wed | $24.27 | +2.14% | $0.78 | ₹64,680 | AED 2,865.96 |
| Mar 7Thu | $24.37 | +0.40% | $0.78 | ₹64,890 | AED 2,877.06 |
| Mar 8Fri | $24.34 | −0.13% | $0.78 | ₹64,755 | AED 2,873.32 |
| Mar 11Mon | $24.51 | +0.71% | $0.79 | ₹65,215 | AED 2,894.30 |
| Mar 12Tue | $24.19 | −1.30% | $0.78 | ₹64,390 | AED 2,856.21 |
| Mar 13Wed | $24.96 | +3.16% | $0.80 | ₹66,471 | AED 2,946.52 |
| Mar 14Thu | $24.87 | −0.34% | $0.80 | ₹66,241 | AED 2,936.48 |
| Mar 15Fri | $25.20 | +1.31% | $0.81 | ₹67,219 | AED 2,974.81 |
| Mar 18Mon | $25.09 | −0.43% | $0.81 | ₹66,866 | AED 2,961.86 |
| Mar 19Tue | $24.96 | −0.51% | $0.80 | ₹66,507 | AED 2,946.79 |
| Mar 20Wed | $24.93 | −0.12% | $0.80 | ₹66,568 | AED 2,943.13 |
| Mar 21Thu | $24.85 | −0.34% | $0.80 | ₹66,353 | AED 2,933.21 |
| Mar 22Fri | $24.69 | −0.63% | $0.79 | ₹66,071 | AED 2,914.68 |
| Mar 25Mon | $24.75 | +0.21% | $0.80 | ₹66,505 | AED 2,921.17 |
| Mar 26Tue | $24.48 | −1.06% | $0.79 | ₹65,662 | AED 2,889.93 |
| Mar 27Wed | $24.63 | +0.58% | $0.79 | ₹65,986 | AED 2,906.61 |
| Mar 28Thu | $24.80 | +0.70% | $0.80 | ₹66,462 | AED 2,926.91 |
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 2024: FAQ
What was the price of silver in March 2024?
Silver traded between $23.15 and $25.20 per troy ounce (daily closes) in March 2024, averaging $24.53. It closed the month at $24.80.
How much did silver go up in March 2024?
Silver rose 9.4%, from $22.67 to $24.80. The biggest daily rise was +3.2% on March 13, 2024 and the biggest fall −1.3% on March 12, 2024.
What was the silver price on March 1, 2024?
Silver closed at $23.15 per troy ounce on March 1, 2024, the first trading day of the month. 999 India, ₹ per kg: ₹61,709.
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 2024?
Silver rose 10.0% in Indian rupee terms in March 2024, compared with +9.4% in US dollars.
Did silver beat stocks in March 2024?
Yes. Silver was +9.4% for the month, against +3.2% for the S&P 500 with dividends.
How did silver react to the Fed and US data in March 2024?
Of 3 scheduled US releases this month, the biggest move came after the CPI inflation (February 2024) on 12 March: −1.3%. The full list with each reaction is on this page.
Did silver keep up with inflation in March 2024?
US consumer prices (CPI) changed +0.65% in March, so silver's real (inflation-adjusted) change was about +8.7%.