Distance from the record
This close sat 21.55% below the highest silver close recorded up to that date, set on 2008-03-05.
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This page is a historical record of the silver price in 7 August 2008, not the current price.See today's silver price (11 September 2026)
Silver closed at $16.23 per troy ounce on 7 August 2008, down $0.245 (1.49%) from the previous close of $16.47.
This close extended a run of 3 consecutive sessions of losses. Runs are more informative than any one day inside them: they show direction holding rather than a single session's noise.
This close sat 21.55% below the highest silver close recorded up to that date, set on 2008-03-05.
Twelve months earlier silver traded around $13.04, making this a +24.43% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Silver closed at $16.23 per troy ounce on 7 August 2008. That is $0.25 lower than the previous close of $16.47, a move of -1.49%.
The silver price fell on 7 August 2008, losing $0.25 (1.49%) against the previous session's close of $16.47.
At $16.23 per troy ounce, one gram of pure silver was worth about $0.52 on 7 August 2008. A troy ounce is 31.1034768 grams.
The gold-to-silver ratio closed at about 53.7 on 7 August 2008, meaning one ounce of gold was worth roughly 53.7 ounces of silver.
A week before 7 August 2008, silver was around $17.75 per troy ounce, so the close of $16.23 is a loss of 8.6% over the week.
A month before 7 August 2008, silver was around $17.84 per troy ounce, so the close of $16.23 is a loss of 9.0% over the month.
A year before 7 August 2008, silver was around $13.04 per troy ounce. The close of $16.23 therefore represents a rise of 24.4% over twelve months.
This close was session 3 of a consecutive run of losses. A run is counted by closes, so an intraday reversal that still closed in the same direction does not break it.
It closed 21.55% below the highest close on record up to that date, which was set on 2008-03-05.