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Silver Price in 2008

In 2008, the price of silver averaged $14.99 per troy ounce, up 12.0% from the year before. This page covers the 2008 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.

2008 Average

$14.99

LBMA annual average, USD/oz

Change vs 2007

+12.0%

from $13.38 in 2007

2008 High

$21.36

from daily trading data

2008 Low

$8.46

from daily trading data

Year-End Close

$11.39

last trading day of 2008

What happened to the silver price in 2008

Silver averaged $14.99 per troy ounce in 2008, up 12.0% from $13.38 the year before. Daily trading data shows silver moved between a low of $8.46 and a high of $21.36 during the year, ending 2008 at $11.39. The notable development of 2008: Financial crisis; safe-haven demand.

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 2008 average of $14.99 equals about $22 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 2008?
Silver averaged $14.99 per troy ounce in 2008, based on LBMA annual average data. Daily prices ranged from a low of $8.46 to a high of $21.36, and the year closed at $11.39. That average was up 12.0% from $13.38 in 2007.
What is a 2008 silver price worth in today's dollars?
Adjusted with the US Consumer Price Index, silver's 2008 average of $14.99 works out to roughly $22 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 2008?
The defining story of 2008: Financial crisis; safe-haven demand. Against that backdrop, the annual average climbed 12.0%, from $13.38 in 2007 to $14.99.

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.