Industrial demand moves it
Roughly half of silver demand is industrial — solar, electronics, brazing — so it falls harder in downturns than gold does.
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Every daily silver close we hold, covering 2000-09-01 to 2026-08-14 — charted from one week to the full record, with annual returns, the deepest drawdowns, and the underlying data available to download.
| Year | Year-end close | Return | Scale |
|---|---|---|---|
| 2026in progress | $65.11 | −7.17% | |
| 2025 | $70.13 | +142.34% | |
| 2024 | $28.94 | +21.33% | |
| 2023 | $23.85 | −0.04% | |
| 2022 | $23.86 | +2.29% | |
| 2021 | $23.33 | −11.41% | |
| 2020 | $26.33 | +55.18% | |
| 2019 | $16.97 | +9.95% | |
| 2018 | $15.43 | −9.54% | |
| 2017 | $17.06 | +7.05% | |
| 2016 | $15.94 | +15.69% | |
| 2015 | $13.77 | −11.50% | |
| 2014 | $15.56 | −22.10% | |
| 2013 | $19.98 | −33.78% | |
| 2012 | $30.17 | +8.24% | |
| 2011 | $27.88 | −9.82% | |
| 2010 | $30.91 | +83.75% | |
| 2009 | $16.82 | +49.26% | |
| 2008 | $11.27 | −23.84% | |
| 2007 | $14.80 | +15.44% | |
| 2006 | $12.82 | +45.33% | |
| 2005 | $8.820 | +29.57% | |
| 2004 | $6.807 | +14.35% | |
| 2003 | $5.953 | +34.87% | |
| 2002 | $4.414 | −3.60% | |
| 2001 | $4.579 | −0.13% | |
| 2000 | $4.585 | −6.41% |
The largest peak-to-trough decline on record was 71.6%, from 2011-04-01 to 2015-12-01, recovering by 2025-10-08. Silver is materially more volatile than gold — roughly half its demand is industrial, so it tracks the economic cycle as well as safe-haven flows.
Roughly half of silver demand is industrial — solar, electronics, brazing — so it falls harder in downturns than gold does.
Silver routinely posts larger percentage moves than gold in both directions, which is why its drawdowns look severe next to gold’s.
The gold-to-silver ratio is the standard way to judge whether silver is cheap relative to gold rather than cheap outright.
For the current market, see today's silver price, or compare with gold price history.