Silver at 1.9123 euros per gram, up 18.5% in a month
On 27 August silver stood at 1.9123 euros per gram. That is 18.5 per cent above the 1.6133 euros of 28 July, and the highest point we have measured this month. Here are the figures, and here is also what you should not conclude from them.
Four metals, one month
The change since 28 July, in euros per gram of fine metal:
- Silver – from 1.6133 to 1.9123 euros per gram (+18.5%)
- Platinum – from 45.33 to 51.07 euros per gram (+12.7%)
- Gold – from 113.74 to 127.14 euros per gram (+11.8%)
- Palladium – from 35.68 to 37.23 euros per gram (+4.3%)
Silver ran hardest, palladium slowest. The gold-silver ratio — how many grams of silver one gram of gold buys — fell over four weeks from 70.5 to 66.5; on 4 August it still stood at 68.5. Silver gained on gold steadily through the month.
The euro ate part of the rise
In dollars per troy ounce gold rose from 4,028 to 4,607, up 14.4 per cent. In euros, 11.8 per cent of that was left. The difference lies in the euro rate, which moved from 1.1387 to 1.1649 dollars: a stronger euro makes the same dollar amount worth fewer euros.
The same brake applies to silver. Per troy ounce it went from 57.14 to 69.28 dollars, a little over 21 per cent; in euros per gram that is the 18.5 per cent quoted above. Read only the dollar headline and you will overstate what is happening in your own pocket.
The figure that matters to you is the rate in euros per gram, not the dollar quote per ounce. That is the number your cutlery is calculated with, and it is the number on our price pages.
A month is still not a trend
At the start of August we wrote here that one week of plus 2.8 per cent is not a trend. The same holds for a month of plus 18.5 per cent. Eighteen per cent in four weeks is exceptional, and exceptional moves are precisely the ones that extrapolate worst. So we publish no expectation for September — we do not know it, and nobody who claims to know it carries your risk.
What you can do with these figures is work out what they mean for your own silver. At 1.9123 euros per gram a kilo of sterling silver (925) contains 925 grams of fine silver, worth 1,769 euros in material before margin. A month earlier that was 1,492 euros. That difference is real and it is measured.
And the other half of the same story: this is the highest point we saw this month, which means every day before it was lower. Waiting for a higher figure may work out and may not; nobody knows the top in advance, ourselves included. Have it weighed, hear the amount, and decide for yourself afterwards.
- Gold at 120.55 euros per gram: up 5.4%, 6.6% below the topGold stands higher than six weeks ago but below the 129.04 euro peak of late August. Both figures, the sum behind them, and what you can do with it.Read on
- The four Cs: which weighs heaviest when selling?Carat, cut, colour and clarity are not equally important. Which is measurable, which remains a judgement, and why an old cut deserves its own yardstick.Read on
- Selling a watch without papers: can you?Yes, and we buy it too. What gets checked in place of a warranty card, which numbers sit inside the case, and what you can look up at home beforehand.Read on
Still something unclear?
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Sources
Where you can verify what you have just read.
- LBMAThe London gold and silver price our daily rate is built on
- WaarborgHollandThe Dutch assay office that verifies fineness and strikes hallmarks
Rather just have it looked at?
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