Silver Price in 1973

The silver price rose 60.3% in 1973, from $2.03 at the end of 1972 to $3.26. Its highest close was $3.26 on Dec 31 — a record that stood until January 2, 1974, and its lowest $1.96 on Jan 23. The biggest one-day fall was −6.8% on Mar 12 and the biggest rise +8.1% on Feb 22. Adjusted for inflation, it gained 47.5%.

Change in 1973

+60.3%

$2.03 → $3.26

High

$3.26

Dec 31

Low

$1.96

Jan 23

After inflation

+47.5%

US CPI

Up days

127 of 245

longest run 9 up, 6 down

Record highs

closing records

Silver Price, daily closes 1973

Numbers mark the events below

Key Events in 1973

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

1
Monday, February 12

US announces a 10% devaluation of the dollar against gold. Source

Silver: +5.1% next trading day (Feb 14) · +4.1% a month later
2
Wednesday, February 14

Japan moves the yen to a floating exchange rate. Source

Silver: +5.1% that day · +4.1% a month later
3
Thursday, February 22 From the data

Biggest one-day rise of the year: +8.1%.
4
Monday, March 12 From the data

Biggest one-day fall of the year: −6.8%.
5
Monday, March 19

Generalized floating begins as European Community countries jointly float against the dollar. Source

Silver: +0.6% that day · +2.6% a month later
6
Friday, June 1 From the data

Silver sets the first of 17 record closing highs this year, at $2.61. Back above its pre-bear-market peak of $2.58 (June 12, 1968).
7
Saturday, October 6

Egypt and Syria attack Israel, starting the Yom Kippur War. Source

Silver: +4.1% next trading day (Oct 8) · +6.3% a month later
8
Wednesday, October 17

Arab oil producers announce production cuts, beginning the 1973 oil embargo. Source

Silver: +3.3% that day · −4.6% a month later
9
Tuesday, December 4 From the data

Silver closes above $3 for the first time ($3.05).
10
Monday, December 31 From the data

Last record close of the year: $3.26.

Biggest days of 1973

Best days		Worst days
Feb 22	+8.1%	Mar 12	−6.8%
Aug 1	+5.7%	Jun 6	−6.7%
Feb 14	+5.1%	Jul 30	−4.9%
May 21	+4.7%	Feb 26	−4.3%
Nov 28	+4.6%	Aug 22	−3.9%

Volatility: 31.7% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	$2.01	−1.0%	$2.05	$1.96
Feb	$2.43	+20.8%	$2.46	$2.03
Mar	$2.20	−9.6%	$2.49	$2.15
Apr	$2.15	−2.3%	$2.25	$2.10
May	$2.55	+18.8%	$2.55	$2.12
Jun	$2.67	+4.5%	$2.73	$2.46
Jul	$2.76	+3.5%	$2.96	$2.67
Aug	$2.60	−5.9%	$2.92	$2.56
Sep	$2.70	+3.9%	$2.78	$2.52
Oct	$2.84	+5.1%	$3.00	$2.70
Nov	$2.92	+3.1%	$2.96	$2.76
Dec	$3.26	+11.4%	$3.26	$2.92

Other Markets in 1973

Change over the calendar year.

Market	Change	Year-end
Silver Price	+60.3%	$3.26
Dow Jones Industrial Average in 1973	−16.6%	850.86
S&P 500 in 1973	−17.4%	97.55
Nasdaq Composite in 1973	−31.1%	92.19
Gold in 1973	+73.0%	$112.25
US 10-year Treasury yield in 1973	+0.49 pp	6.90%

1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

Silver Price in 1973: FAQ

How much did the silver price rise in 1973?

What were the highest and lowest closes of the silver price in 1973?

Highest: $3.26 on December 31, 1973. Lowest: $1.96 on January 23, 1973. It closed higher on 127 of 245 trading days.

What happened to the silver price on February 12, 1973?

US announces a 10% devaluation of the dollar against gold. The silver price rose 5.1% on the next trading day (February 14, 1973), and was +4.1% a month later.

Did the silver price reach a record high in 1973?

Yes — 17 record closing highs, the last at $3.26 on December 31, 1973. (Records counted from 1968, when the free market price began.)

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.