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Silver Price in 2008

The silver price fell 26.9% in 2008, from $14.76 at the end of 2007 to $10.79. Its highest close was $20.92 on Mar 17, and its lowest $8.88 on Oct 24. The biggest one-day fall was −13.7% on Aug 15 and the biggest rise +20.1% on Sep 18. Adjusted for inflation, it lost 27.0%.

Daily COMEX prices, the year in 12 currencies and festival prices: Silver Price in 2008 →

Change in 2008
−26.9%
$14.76 → $10.79
High
$20.92
Mar 17
Low
$8.88
Oct 24
After inflation
−27.0%
US CPI
Up days
128 of 258
longest run 5 up, 6 down
Below record
-78.2%
at the end of 2008

Silver Price, daily closes 2008

Numbers mark the events below
$10$15$20JanFebMarAprMayJunJulAugSepOctNovDec1Mar 16: JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing.2Apr 25: Enters a bear market: 20% below its peak of $20.92 (March 17, 2008).3Aug 15: Biggest one-day fall of the year: −13.7%.4Sep 7: Fannie Mae and Freddie Mac are placed into federal conservatorship.5Sep 11: Bear market low: $10.66, 49.0% below the peak.6Sep 15: Lehman Brothers files for Chapter 11 bankruptcy protection.7Sep 18: Biggest one-day rise of the year: +20.1%.8Oct 3: Emergency Economic Stabilization Act is signed, creating the $700 billion TARP.9Oct 13: Enters a bear market: 20% below its peak of $13.38 (September 23, 2008).10Oct 24: Bear market low: $8.88, 33.6% below the peak.11Dec 16: Fed cuts its federal funds target to a range of 0 to 0.25%.

Key Events in 2008

What happened, and how the Silver moved — on the day (or the next trading day) and about a month later.

  1. 1
    Sunday, March 16
    JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source
    Silver: +2.5% next trading day (Mar 17) · −12.5% a month later
  2. 2
    Friday, April 25 From the data
    Enters a bear market: 20% below its peak of $20.92 (March 17, 2008).
  3. 3
    Friday, August 15 From the data
    Biggest one-day fall of the year: −13.7%.
  4. 4
    Sunday, September 7
    Fannie Mae and Freddie Mac are placed into federal conservatorship. Source
    Silver: −2.7% next trading day (Sep 8) · −11.2% a month later
  5. 5
    Thursday, September 11 From the data
    Bear market low: $10.66, 49.0% below the peak.
  6. 6
    Monday, September 15
    Lehman Brothers files for Chapter 11 bankruptcy protection. Source
    Silver: +0.4% that day · −1.8% a month later
  7. 7
    Thursday, September 18 From the data
    Biggest one-day rise of the year: +20.1%.
  8. 8
    Friday, October 3
    Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source
    Silver: −8.6% that day · −24.2% a month later
  9. 9
    Monday, October 13 From the data
    Enters a bear market: 20% below its peak of $13.38 (September 23, 2008).
  10. 10
    Friday, October 24 From the data
    Bear market low: $8.88, 33.6% below the peak.
  11. 11
    Tuesday, December 16
    Fed cuts its federal funds target to a range of 0 to 0.25%. Source
    Silver: +1.6% that day · +1.7% a month later

Biggest days of 2008

Best daysWorst days
Sep 18+20.1%Aug 15−13.7%
Nov 24+9.5%Mar 20−11.8%
Nov 3+8.3%Oct 13−9.6%
Sep 22+6.9%Oct 3−8.6%
Oct 30+6.8%Oct 16−8.5%

Volatility: 52.0% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$16.74+13.4%$16.76$14.93
Feb$19.62+17.2%$19.62$16.48
Mar$17.99−8.3%$20.92$17.07
Apr$16.47−8.4%$18.56$16.47
May$16.85+2.3%$18.14$16.19
Jun$17.65+4.7%$17.65$16.31
Jul$17.48−1.0%$19.30$17.12
Aug$13.76−21.3%$17.59$12.82
Sep$12.96−5.8%$13.58$10.66
Oct$9.28−28.4%$12.28$8.88
Nov$10.12+9.1%$10.41$9.17
Dec$10.79+6.6%$11.29$9.41

Other Markets in 2008

Change over the calendar year.

MarketChangeYear-end
Silver Price−26.9%$10.79
Dow Jones Industrial Average in 2008−33.8%8,776.39
S&P 500 in 2008−38.5%903.25
Nasdaq Composite in 2008−40.5%1,577.03
Russell 2000 in 2008−34.8%499.45
Nikkei 225 in 2008−42.1%8,859.56
Gold in 2008+4.3%$869.75
WTI crude oil in 2008−53.5%$44.60
Brent crude oil in 2008−61.8%$35.82
US 10-year Treasury yield in 2008−1.79 pp2.25%
2000200120022003200420052006200720082009

Silver Price in 2008: FAQ

How much did the silver price fall in 2008?

The silver price fell 26.9% in 2008, from $14.76 at the end of 2007 to $10.79. Its highest close was $20.92 on Mar 17, and its lowest $8.88 on Oct 24. The biggest one-day fall was −13.7% on Aug 15 and the biggest rise +20.1% on Sep 18. Adjusted for inflation, it lost 27.0%.

What were the highest and lowest closes of the silver price in 2008?

Highest: $20.92 on March 17, 2008. Lowest: $8.88 on October 24, 2008. It closed higher on 128 of 258 trading days.

What happened to the silver price on October 3, 2008?

Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. The silver price fell 8.6% that day, and was −24.2% a month later.

Data: London silver fix from 1968 to Jan 2018 (gaps filled with Perth Mint spot), COMEX silver futures closes after that. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.

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APA 7
Corgano. (2026, October 31). Silver price in 2008. Corgano Gold Price. Retrieved October 31, 2026, from https://silverprice.corgano.com/silver-price-history/2008
MLA 9
“Silver Price in 2008.” Corgano Gold Price, silverprice.corgano.com/silver-price-history/2008. Accessed 31 Oct. 2026.
Chicago
Corgano. “Silver Price in 2008.” Corgano Gold Price. Accessed October 31, 2026. https://silverprice.corgano.com/silver-price-history/2008.
BibTeX
@misc{corgano2026silverpricein2008, author = {{Corgano}}, title = {Silver Price in 2008}, howpublished = {\url{https://silverprice.corgano.com/silver-price-history/2008}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}
Link
Silver Price in 2008 — Corgano Gold Price: https://silverprice.corgano.com/silver-price-history/2008