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Silver Price in 2023 | Historical Silver Prices

Annual summary, monthly averages, and key events that shaped silver prices in 2023

- 202220232024 -

Jan 1

$23.97

Opening Price

Dec 31

$24.63

Closing Price

Year High

$26.14

Annual High

Year Low

$19.90

Annual Low

Annual Avg

$23.35

Average Price

vs 2022

+2.8%

Annual Change

Monthly Silver Price Chart — 2023

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Low: $22.10High: $25.50

Monthly Average Silver Prices — 2023

MonthAvg Price (USD/oz)vs Prev Month
Jan 2023$23.80-0.7%
Feb 2023$22.10-7.1%
Mar 2023$22.80+3.2%
Apr 2023$25.50+11.8%
May 2023$24.00-5.9%
Jun 2023$22.80-5.0%
Jul 2023$24.80+8.8%
Aug 2023$23.00-7.3%
Sep 2023$23.30+1.3%
Oct 2023$22.90-1.7%
Nov 2023$24.50+7.0%
Dec 2023$24.63+0.5%

What Happened to Silver in 2023?

Silver was range-bound for most of 2023 as the Federal Reserve's "higher for longer" rate policy suppressed investment demand. However, industrial fundamentals were strengthening — global solar installations hit a new record of 390 GW, creating record photovoltaic silver demand. The Silver Institute reported a structural physical silver deficit for the second consecutive year. Prices were supported by this demand but capped by investment headwinds.

Browse All Years

2000-13.8%2001-1.1%2002+6%2003+24.6%2004+13.4%2005+30.5%2006+46.1%2007+14.4%2008-24.6%2009+55.8%2010+83.4%2011-8%2012+6.3%2013-34.9%2014-18.1%2015-13.5%2016+15.7%2017+0.1%2018-3.4%2019+15.4%2020+47.9%2021-11.6%2022+2.7%2023+2.8%2024+19%2025+6.4%2026+3.1%

Related Pages

Live Silver PriceAll Historical YearsGold Price HistoryGold/Silver Ratio