FX & Commodity Almanac

ECB fixings to 16 Oct 2026 · World Bank prices to September 2026

Precious metals · World Bank monthly average

What is the Silver price and how has it changed?

Silver averaged 64.60 US dollars per troy ounce in September 2026, according to the World Bank Pink Sheet. That is 1.2% below Aug 2026 and 50.9% above Sept 2025, and in the top tenth of all monthly averages since January 2000.

Sept 2026 average
64.60$/troy oz · US dollars per troy ounce
Month on month
▼ −1.2%from 65.40 in Aug 2026
Year on year
▲ +50.9%from 42.80 in Sept 2025
12-month range
49.40–92.10low Oct 2025 · high Jan 2026

The last five years

Silver, monthly average price, last five yearsSilver from 23.20 $/troy oz in Sept 2021 to 64.60 in Sept 2026; five-year high 92.10 (Jan 2026), low 18.90 (Sept 2022). 102030405060708090100 20222023202420252026
Monthly averages, Sept 2021 – Sept 2026, $/troy oz. Yellow dot: latest month.

What the record shows

  1. Over five years the price ranged from 18.90 (Sept 2022) to 92.10 (Jan 2026). Sept 2026 sits 62% of the way from that low to the high.
  2. Since January 2000 the record high is 92.10 (Jan 2026) and the low 4.10 (Nov 2001). The latest month is higher than 98% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
  3. The highest full-year average since 2000 was 2025 (39.80); the lowest was 2001 (4.39).
  4. Annualised volatility of monthly changes over the past five years was 29.7%, higher than the 24.8% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
  5. Five years earlier, in Sept 2021, the average was 23.20: the price is 178.4% above that level.

Yearly averages

Silver yearly average, change, high month and low month
YearAveragevs prior yearHighest monthLowest month
2026 9 mo. 73.48 ▲ +84.6% 92.10 Jan 58.80 Jul
2025 39.80 ▲ +40.8% 62.30 Dec 30.40 Jan
2024 28.28 ▲ +20.8% 32.40 Oct 22.70 Feb
2023 23.41 ▲ +7.5% 25.00 Apr 21.90 Feb
2022 21.78 ▼ −13.4% 25.30 Mar 18.90 Sep
2021 25.17 ▲ +22.5% 27.50 May 22.50 Dec
2020 20.54 ▲ +26.7% 27.00 Aug 14.90 Mar
2019 16.22 ▲ +3.2% 18.20 Sep 14.70 May
2018 15.72 ▼ −7.9% 17.10 Jan 14.30 Sep
2017 17.06 ▼ −0.6% 18.00 Apr 16.20 Jul
2016 17.16 ▲ +9.2% 20.00 Jul 14.10 Jan
2015 15.72 ▼ −17.6% 17.20 Jan 14.10 Dec
2014 19.07 ▼ −20.1% 20.90 Jul 16.00 Nov
2013 23.86 ▼ −23.4% 31.10 Jan 19.70 Jul
2012 31.14 ▼ −11.6% 34.10 Feb 27.40 Jul
2011 35.23 ▲ +74.8% 42.70 Apr 28.50 Jan
2010 20.15 ▲ +37.5% 29.30 Dec 15.90 Feb
2009 14.65 ▼ −2.3% 17.80 Nov 11.30 Jan
2008 15.00 ▲ +12.1% 19.30 Mar 9.90 Nov
2007 13.38 ▲ +15.7% 14.70 Nov 12.30 Aug
2006 11.56 ▲ +58.3% 13.40 May 9.10 Jan

Average = simple mean of the monthly averages published for that year. Rows in italics are incomplete years. Table shows 2006 onward; the charts and statistics use the full record from Jan 2000.

Since January 2000

Silver, monthly average price since January 2000Silver monthly averages from Jan 2000 to Sept 2026; highest 92.10 $/troy oz in Jan 2026, lowest 4.10 in Nov 2001. 020406080100 200020032006200920122015201820212024
Monthly averages, nominal US dollars ($/troy oz).

Largest one-month moves since 2000

MonthFromToMove
Jan 202662.3092.10▲ +47.8%
Aug 202020.6027.00▲ +31.1%
Dec 202550.4062.30▲ +23.6%
Apr 200610.4012.60▲ +21.2%
Jun 200613.4010.80▼ −19.4%

What exactly is being priced?

Silver (UK), 99.9% refined, London afternoon fixing. The World Bank publishes the series as a monthly average in US dollars per troy ounce ($/troy oz). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.

Sources