Silver Price in 2003

In 2003, the price of silver averaged $4.88 per troy ounce, up 6.1% from the year before. This page covers the 2003 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.

2003 Average

$4.88

LBMA annual average, USD/oz

Change vs 2002

+6.1%

from $4.60 in 2002

2003 High

$6.00

from daily trading data

2003 Low

$4.34

from daily trading data

Year-End Close

$5.93

last trading day of 2003

Silver Price Chart, 1993 to 2013

Annual average silver price per troy ounce, 1993 to 2013, with 2003 marked.

Silver Price by Month in 2003

Each month's average of daily closing prices, with its high and low, per troy ounce. These come from MetalCharts daily spot data, so they can differ slightly from the annual average above, which is based on LBMA annual average data.

Month	Average	High	Low
January 2003	$4.81	$4.97	$4.60
February 2003	$4.63	$4.98	$4.46
March 2003	$4.51	$4.70	$4.34
April 2003	$4.50	$4.66	$4.36
May 2003	$4.72	$4.88	$4.51
June 2003	$4.53	$4.64	$4.43
July 2003	$4.82	$5.22	$4.54
August 2003	$4.99	$5.17	$4.83
September 2003	$5.16	$5.35	$4.95
October 2003	$4.98	$5.20	$4.73
November 2003	$5.19	$5.45	$4.90
December 2003	$5.65	$6.00	$5.33

What happened to the silver price in 2003

Silver averaged $4.88 per troy ounce in 2003, up 6.1% from $4.60 the year before. Daily trading data shows silver moved between a low of $4.34 and a high of $6.00 during the year, ending 2003 at $5.93. The notable development of 2003: Iraq War begins.

The 2000s revived silver as an investment asset. The launch of the SLV exchange-traded fund in 2006 opened the metal to mainstream portfolios, and the financial crisis at the end of the decade rekindled safe-haven demand.

Adjusted for inflation, silver's 2003 average of $4.88 equals about $8.55 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of silver in 2003?

Silver averaged $4.88 per troy ounce in 2003, based on LBMA annual average data. Daily prices ranged from a low of $4.34 to a high of $6.00, and the year closed at $5.93. That average was up 6.1% from $4.60 in 2002.

What is a 2003 silver price worth in today's dollars?

Adjusted with the US Consumer Price Index, silver's 2003 average of $4.88 works out to roughly $8.55 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the silver price in 2003?

The defining story of 2003: Iraq War begins. Against that backdrop, the annual average climbed 6.1%, from $4.60 in 2002 to $4.88.

Annual averages are LBMA prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.