Silver Monthly Returns
Average monthly return over 20 years · Quotes delayed up to 5 minutesAverage monthly silver returns across 10-year, 20-year, and 30-year windows. Silver has more pronounced seasonality than gold due to its higher industrial component and its smaller market size, which amplifies the impact of recurring industrial-buying cycles. The chart reveals patterns that are often masked in headline silver price action.
Analyst's Note
Silver’s seasonal patterns are similar to gold’s in direction but larger in magnitude. The August–September strength is more pronounced for silver than gold (driven by photovoltaic and industrial restocking), and the early-year weakness can be sharper. Silver also exhibits a meaningful late-March strength tied to industrial demand patterns. The volatility of silver’s seasonal effects is larger because the underlying market is smaller — meaning seasonal flows have more price impact. For the analytical investor, silver seasonality is a more useful tactical input than gold seasonality, but the same caveat applies: seasonality is a tilt, not a trade. The right way to use it is to lean into entries during seasonally strong months when other indicators are aligned, not to position purely on seasonal averages.
Average monthly silver returns across 10-year, 20-year, and 30-year windows. Silver has more pronounced seasonality than gold due to its higher industrial component and its smaller market size, which amplifies the impact of recurring industrial-buying cycles. The chart reveals patterns that are often masked in headline silver price action.
Analyst's Note
Silver’s seasonal patterns are similar to gold’s in direction but larger in magnitude. The August–September strength is more pronounced for silver than gold (driven by photovoltaic and industrial restocking), and the early-year weakness can be sharper. Silver also exhibits a meaningful late-March strength tied to industrial demand patterns. The volatility of silver’s seasonal effects is larger because the underlying market is smaller — meaning seasonal flows have more price impact. For the analytical investor, silver seasonality is a more useful tactical input than gold seasonality, but the same caveat applies: seasonality is a tilt, not a trade. The right way to use it is to lean into entries during seasonally strong months when other indicators are aligned, not to position purely on seasonal averages.
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