Silver Price in 1978
The silver price rose 26.6% in 1978, from $4.76 at the end of 1977 to $6.02. Its highest close was $6.26 on Oct 31, and its lowest $4.82 on Jan 5. The biggest one-day fall was −4.6% on Nov 2 and the biggest rise +4.8% on Mar 8. Adjusted for inflation, it gained 16.1%.
Silver Price, daily closes 1978
Numbers mark the events belowKey Events in 1978
What happened, and how the Silver moved — on the day (or the next trading day) and about a month later.
- 1
Wednesday, March 8 From the dataBack above its pre-bear-market peak of $5.21 (August 8, 1975). Biggest one-day rise of the year: +4.8%.
- 2
Saturday, April 1IMF Second Amendment takes effect, letting members choose their exchange-rate arrangements. SourceSilver: +1.3% next trading day (Apr 3) · −6.9% a month later
- 3
Thursday, October 26 From the dataBack above its pre-bear-market peak of $6.02 (May 14, 1974).
- 4
Wednesday, November 1Carter announces a dollar rescue package with $30 billion for intervention and a full-point Fed discount rate rise. SourceSilver: −2.1% that day · −5.9% a month later
- 5
Thursday, November 2 From the dataBiggest one-day fall of the year: −4.6%.
Biggest days of 1978
| Best days | Worst days | ||
|---|---|---|---|
| Mar 8 | +4.8% | Nov 2 | −4.6% |
| Oct 10 | +3.3% | Jan 5 | −3.1% |
| Mar 14 | +3.2% | Mar 20 | −2.9% |
| Oct 26 | +2.9% | Apr 20 | −2.5% |
| May 30 | +2.9% | Aug 21 | −2.4% |
Volatility: 19.4% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | $4.95 | +4.1% |
| Feb | $4.97 | +0.4% |
| Mar | $5.35 | +7.6% |
| Apr | $5.00 | −6.5% |
| May | $5.47 | +9.4% |
| Jun | $5.28 | −3.5% |
| Jul | $5.57 | +5.6% |
| Aug | $5.53 | −0.8% |
| Sep | $5.67 | +2.5% |
| Oct | $6.26 | +10.5% |
| Nov | $5.91 | −5.7% |
| Dec | $6.02 | +1.9% |
Other Markets in 1978
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| Silver Price | +26.6% | $6.02 |
| Dow Jones Industrial Average in 1978 | −3.1% | 805.01 |
| S&P 500 in 1978 | +1.1% | 96.11 |
| Nasdaq Composite in 1978 | +12.3% | 117.98 |
| Gold in 1978 | +37.0% | $226.00 |
| US 10-year Treasury yield in 1978 | +1.37 pp | 9.15% |
Silver Price in 1978: FAQ
How much did the silver price rise in 1978?
The silver price rose 26.6% in 1978, from $4.76 at the end of 1977 to $6.02. Its highest close was $6.26 on Oct 31, and its lowest $4.82 on Jan 5. The biggest one-day fall was −4.6% on Nov 2 and the biggest rise +4.8% on Mar 8. Adjusted for inflation, it gained 16.1%.
What were the highest and lowest closes of the silver price in 1978?
Highest: $6.26 on October 31, 1978. Lowest: $4.82 on January 5, 1978. It closed higher on 129 of 252 trading days.
What happened to the silver price on November 1, 1978?
Carter announces a dollar rescue package with $30 billion for intervention and a full-point Fed discount rate rise. The silver price fell 2.1% that day, and was −5.9% 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.