Silver (XAG/USD): returns since 2000

Silver (XAG/USD) is both a monetary metal and an industrial one, used in everything from solar panels to electronics. That dual role makes it far more volatile than gold, with sharper rallies and deeper drawdowns, and like gold it pays no interest.

Our closing-price series for silver runs from 2000, in U.S. dollars. The comparison against U.S. inflation (CPI) shows whether the metal held its value in real terms, and when the volatility cost more than it paid.

Silver's record shows the swings in dates you can place. It ran from under $5 an ounce in the early 2000s to nearly $50 in April 2011, a level it had not seen since the Hunt brothers cornered the market in January 1980, then gave most of that back over the following years. The 2011 peak fell just short of that 1980 high, leaving the 1980 high standing as silver's nominal record for decades. One rough gauge traders watch is the gold-to-silver ratio, which has ranged from the low 30s to above 100 ounces of silver per ounce of gold.

Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.