Silver Price in 1980

The silver price fell 51.9% in 1980, from $32.20 at the end of 1979 to $15.50. Its highest close was $49.45 on Jan 18 — a record that stood until October 13, 2025, and its lowest $10.89 on May 22. The biggest one-day fall was −18.6% on Mar 27 and the biggest rise +25.9% on Apr 1. Adjusted for inflation, it lost 57.2%.

Change in 1980

−51.9%

$32.20 → $15.50

High

$49.45

Jan 18

Low

$10.89

May 22

After inflation

−57.2%

US CPI

Up days

120 of 254

longest run 7 up, 7 down

Record highs

closing records

Silver Price, daily closes 1980

Numbers mark the events below

Key Events in 1980

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

1
Wednesday, January 2 From the data

Silver sets the first of 4 record closing highs this year, at $39.95.
2
Monday, January 7

COMEX imposes position limits on silver futures. Source

Silver: +19.1% that day · +5.3% a month later
3
Tuesday, January 15 From the data

Silver closes above $40 for the first time ($44.00).
4
Thursday, January 17

Silver reaches a record $49.45 an ounce. Source

Silver: −9.7% that day · −22.0% a month later
5
Friday, January 18 From the data

Last record close of the year: $49.45.
6
Monday, January 21

Gold peaks at $850 an ounce at the London afternoon fix. Source

Silver: −0.9% that day · −27.7% a month later
7
Wednesday, January 23 From the data

Enters a bear market: 20% below its peak of $49.45 (January 18, 1980).
8
Wednesday, February 20 From the data

Bear market low: $30.00, 39.3% below the peak.
9
Tuesday, March 11 From the data

Enters a bear market: 20% below its peak of $36.31 (March 5, 1980).
10
Tuesday, March 18 From the data

Bear market low: $16.60, 54.3% below the peak.
11
Thursday, March 27

Silver Thursday: silver falls to $10.80 as the Hunt brothers fail to meet margin calls. Source

Silver: −18.6% that day · −30.0% a month later
12
Thursday, March 27 From the data

Enters a bear market: 20% below its peak of $23.05 (March 24, 1980).
13
Monday, March 31 From the data

Bear market low: $13.49, 41.5% below the peak.
14
Tuesday, April 1 From the data

Biggest one-day rise of the year: +25.9%.
15
Tuesday, April 22 From the data

Enters a bear market: 20% below its peak of $17.60 (April 9, 1980).
16
Thursday, May 22 From the data

Bear market low: $10.89, 38.1% below the peak.
17
Monday, June 9 From the data

Back above its pre-bear-market peak of $17.60 (April 9, 1980).
18
Monday, September 22

Iraq invades Iran, starting the Iran-Iraq War. Source

Silver: +9.4% that day · −3.8% a month later
19
Tuesday, September 23 From the data

Back above its pre-bear-market peak of $23.05 (March 24, 1980).
20
Tuesday, October 28 From the data

Enters a bear market: 20% below its peak of $23.54 (September 24, 1980).

Biggest days of 1980

Best days		Worst days
Apr 1	+25.9%	Mar 27	−18.6%
Mar 19	+24.4%	Mar 17	−17.4%
Jan 2	+24.1%	Jan 22	−15.2%
Jan 7	+19.1%	Feb 20	−15.1%
Feb 6	+15.9%	Mar 14	−14.8%

Volatility: 100.4% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	$35.28	+9.6%	$49.45	$32.75
Feb	$35.52	+0.7%	$40.25	$30.00
Mar	$13.49	−62.0%	$36.31	$13.49
Apr	$13.83	+2.5%	$17.60	$13.56
May	$13.70	−1.0%	$13.98	$10.89
Jun	$16.75	+22.3%	$17.85	$14.17
Jul	$15.78	−5.8%	$17.46	$15.36
Aug	$16.06	+1.8%	$16.23	$15.48
Sep	$20.50	+27.7%	$23.54	$15.99
Oct	$18.88	−7.9%	$21.75	$18.64
Nov	$18.42	−2.4%	$20.10	$17.50
Dec	$15.50	−15.9%	$18.90	$14.30

Other Markets in 1980

Change over the calendar year.

Market	Change	Year-end
Silver Price	−51.9%	$15.50
Dow Jones Industrial Average in 1980	+14.9%	963.99
S&P 500 in 1980	+25.8%	135.76
Nasdaq Composite in 1980	+33.9%	202.34
Gold in 1980	+15.2%	$589.75
US 10-year Treasury yield in 1980	+2.10 pp	12.43%

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989

Silver Price in 1980: FAQ

How much did the silver price fall in 1980?

What were the highest and lowest closes of the silver price in 1980?

Highest: $49.45 on January 18, 1980. Lowest: $10.89 on May 22, 1980. It closed higher on 120 of 254 trading days.

What happened to the silver price on January 7, 1980?

COMEX imposes position limits on silver futures. The silver price rose 19.1% that day, and was +5.3% a month later.

Did the silver price reach a record high in 1980?

Yes — 4 record closing highs, the last at $49.45 on January 18, 1980. (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.