Silver Price in 1997

The silver price rose 25.4% in 1997, from $4.77 at the end of 1996 to $5.98. Its highest close was $6.38 on Dec 24, and its lowest $4.25 on Jul 17. The biggest one-day fall was −5.7% on Jul 7 and the biggest rise +7.7% on Dec 10. Adjusted for inflation, it gained 23.3%.

Change in 1997

+25.4%

$4.77 → $5.98

High

$6.38

Dec 24

Low

$4.25

Jul 17

After inflation

+23.3%

US CPI

Up days

120 of 257

longest run 4 up, 5 down

Below record

-87.9%

at the end of 1997

Silver Price, daily closes 1997

Numbers mark the events below

Key Events in 1997

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

1
Wednesday, July 2

Thailand floats the baht, starting the Asian financial crisis. Source

Silver: −0.9% that day · −6.2% a month later
2
Monday, July 7 From the data

Biggest one-day fall of the year: −5.7%.
3
Thursday, July 17 From the data

Bear market low: $4.25, 30.3% below the peak.
4
Thursday, October 23

Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps. Source

Silver: −2.0% that day · +4.0% a month later
5
Wednesday, December 10 From the data

Biggest one-day rise of the year: +7.7%.
6
Tuesday, December 23 From the data

Back above its pre-bear-market peak of $6.10 (May 4, 1995).

Biggest days of 1997

Best days		Worst days
Dec 10	+7.7%	Jul 7	−5.7%
Sep 29	+6.2%	Aug 5	−3.8%
Feb 12	+6.2%	Dec 31	−3.4%
Nov 13	+4.7%	Sep 16	−3.4%
Nov 21	+3.8%	Oct 16	−3.1%

Volatility: 24.3% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	$4.91	+2.9%	$5.02	$4.63
Feb	$5.32	+8.4%	$5.32	$4.83
Mar	$5.07	−4.7%	$5.31	$5.07
Apr	$4.71	−7.1%	$4.98	$4.63
May	$4.74	+0.6%	$4.87	$4.67
Jun	$4.63	−2.3%	$4.84	$4.63
Jul	$4.49	−3.0%	$4.67	$4.25
Aug	$4.63	+3.1%	$4.70	$4.33
Sep	$5.23	+13.0%	$5.23	$4.58
Oct	$4.75	−9.2%	$5.29	$4.75
Nov	$5.26	+10.7%	$5.44	$4.86
Dec	$5.98	+13.7%	$6.38	$5.28

Other Markets in 1997

Change over the calendar year.

Market	Change	Year-end
Silver Price	+25.4%	$5.98
Dow Jones Industrial Average in 1997	+22.6%	7,908.24
S&P 500 in 1997	+31.0%	970.43
Nasdaq Composite in 1997	+21.6%	1,570.35
Russell 2000 in 1997	+20.5%	437.02
Nikkei 225 in 1997	−21.2%	15,259.00
Gold in 1997	−21.4%	$290.20
WTI crude oil in 1997	−31.9%	$17.65
Brent crude oil in 1997	−33.6%	$15.86
US 10-year Treasury yield in 1997	−0.68 pp	5.75%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

Silver Price in 1997: FAQ

How much did the silver price rise in 1997?

What were the highest and lowest closes of the silver price in 1997?

Highest: $6.38 on December 24, 1997. Lowest: $4.25 on July 17, 1997. It closed higher on 120 of 257 trading days.

What happened to the silver price on October 23, 1997?

Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps. The silver price fell 2.0% that day, and was +4.0% 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.