Silver Price in 2024
In 2024, the price of silver averaged $28.27 per troy ounce, up 21.1% from the year before. This page covers the 2024 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.
2024 Average
$28.27
LBMA annual average, USD/oz
Change vs 2023
+21.1%
from $23.35 in 2023
2024 High
$34.87
from daily trading data
2024 Low
$21.93
from daily trading data
Year-End Close
$28.90
last trading day of 2024
Silver Price Chart, 2005 to 2025
Silver Price by Month in 2024
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 2024 | $22.91 | $24.10 | $21.93 |
| February 2024 | $22.68 | $23.50 | $21.93 |
| March 2024 | $24.54 | $25.78 | $22.51 |
| April 2024 | $27.50 | $29.80 | $24.75 |
| May 2024 | $29.50 | $32.52 | $26.02 |
| June 2024 | $29.62 | $31.55 | $28.57 |
| July 2024 | $29.80 | $31.76 | $27.31 |
| August 2024 | $28.56 | $30.19 | $26.47 |
| September 2024 | $30.03 | $32.72 | $27.69 |
| October 2024 | $32.49 | $34.87 | $30.12 |
| November 2024 | $31.03 | $33.12 | $29.64 |
| December 2024 | $30.36 | $32.33 | $28.75 |
What happened to the silver price in 2024
Silver averaged $28.27 per troy ounce in 2024, climbing 21.1% from the $23.35 average of 2023. Daily trading data shows silver moved between a low of $21.93 and a high of $34.87 during the year, ending 2024 at $28.90. The notable development of 2024: Industrial + investment demand surge.
The 2020s have been silver's most dramatic decade since the 1980s. A pandemic crash to $12, the Reddit squeeze of 2021, and surging solar demand set the stage for the late 2025 breakout that finally cleared the 1980 record.
Adjusted for inflation, silver's 2024 average of $28.27 equals about $29 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 2024?
What is a 2024 silver price worth in today's dollars?
What moved the silver price in 2024?
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.