Distance from the record
This close sat 19.67% 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 May 2008, not the current price.See today's silver price (11 September 2026)
Silver closed at $16.62 per troy ounce on 7 May 2008, down $0.163 (0.97%) from the previous close of $16.78.
This close sat 19.67% below the highest silver close recorded up to that date, set on 2008-03-05.
Twelve months earlier silver traded around $13.53, making this a +22.84% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Silver closed at $16.62 per troy ounce on 7 May 2008. That is $0.16 lower than the previous close of $16.78, a move of -0.97%.
The silver price fell on 7 May 2008, losing $0.16 (0.97%) against the previous session's close of $16.78.
At $16.62 per troy ounce, one gram of pure silver was worth about $0.53 on 7 May 2008. A troy ounce is 31.1034768 grams.
The gold-to-silver ratio closed at about 52.3 on 7 May 2008, meaning one ounce of gold was worth roughly 52.3 ounces of silver.
A month before 7 May 2008, silver was around $18.09 per troy ounce, so the close of $16.62 is a loss of 8.1% over the month.
A year before 7 May 2008, silver was around $13.53 per troy ounce. The close of $16.62 therefore represents a rise of 22.8% over twelve months.
It closed 19.67% below the highest close on record up to that date, which was set on 2008-03-05.