Free tool · Market statistics
Silver (XAGUSD) volatility by hour, day and month
When Silver moves, how much, and on which days — measured on 1505 trading days of real one-minute data from our broker feed, 2021-01-04 to 2026-10-30. Descriptive statistics of the past, not a forecast.
Volatility by hour
Over the last 12 months, the hour with the widest average range on Silver was 14:00–15:00 UTC (195.0 bp), and the quietest was 21:00–22:00 UTC (75.0 bp): 2.6 times smaller.
Average range of each one-hour bar, in basis points of price. Hours without prices in our feed are not drawn.
Table: range by hour, UTC, last 12 months
| Hour (UTC) | Mean, bp | Median, bp | Hours measured |
|---|---|---|---|
| 00:00 | 128.8 | 82.6 | 89 |
| 01:00 | 182.8 | 137.3 | 89 |
| 02:00 | 149.9 | 102.9 | 89 |
| 03:00 | 118.7 | 92.6 | 88 |
| 04:00 | 81.3 | 60.5 | 88 |
| 05:00 | 133.2 | 98.4 | 88 |
| 06:00 | 130.2 | 92.0 | 88 |
| 07:00 | 104.0 | 73.4 | 88 |
| 08:00 | 115.8 | 88.3 | 88 |
| 09:00 | 112.0 | 72.5 | 88 |
| 10:00 | 85.8 | 67.0 | 88 |
| 11:00 | 93.6 | 69.9 | 88 |
| 12:00 | 103.0 | 81.6 | 88 |
| 13:00 | 153.5 | 116.9 | 88 |
| 14:00 | 195.0 | 168.7 | 88 |
| 15:00 | 187.2 | 152.6 | 88 |
| 16:00 | 163.0 | 132.7 | 88 |
| 17:00 | 124.7 | 95.4 | 88 |
| 18:00 | 144.3 | 96.3 | 88 |
| 19:00 | 113.7 | 79.6 | 87 |
| 20:00 | 122.6 | 92.1 | 83 |
| 21:00 | 75.0 | 48.6 | 83 |
| 23:00 | 141.7 | 95.0 | 89 |
Day of the week
Friday has the widest average daily range (3.42%), Tuesday the narrowest (2.98%). No day shows an average open-to-close return that is distinguishable from zero at 95% confidence.
| Day | Average range | Open → close, mean ± 95% CI | Up days | Days |
|---|---|---|---|---|
| Monday | 2.99 % | +0.131 % ± 0.229 | 50.7 % | 300 |
| Tuesday | 2.98 % | −0.037 % ± 0.230 | 49.7 % | 304 |
| Wednesday | 3.00 % | +0.168 % ± 0.223 | 54.3 % | 302 |
| Thursday | 3.22 % | −0.094 % ± 0.262 | 50.7 % | 302 |
| Friday | 3.42 % | +0.061 % ± 0.324 | 53.9 % | 297 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2021 | +0.106 | −0.380 | +0.133 | −0.041 | −0.142 |
| 2022 | −0.120 | +0.045 | +0.358 | −0.239 | +0.053 |
| 2023 | −0.252 | −0.065 | +0.102 | −0.080 | +0.321 |
| 2024 | −0.004 | +0.013 | −0.164 | +0.388 | +0.187 |
| 2025 | +0.500 | +0.246 | +0.582 | +0.255 | +0.136 |
| 2026 | +0.619 | −0.094 | −0.044 | −0.999 | −0.236 |
Monthly seasonality
Return of each calendar month, from the first open to the last close. With only 6 years per month, one unusual year moves the average a lot: the median and the year-by-year table are there to show it.
| Month | Mean | Median | Positive | Years |
|---|---|---|---|---|
| January | +2.76 % | −0.67 % | 50 % | 6 |
| February | +0.52 % | −0.88 % | 33 % | 6 |
| March | +1.09 % | +5.29 % | 67 % | 6 |
| April | +0.05 % | +0.93 % | 50 % | 6 |
| May | +2.43 % | +1.27 % | 67 % | 6 |
| June | −5.39 % | −5.20 % | 17 % | 6 |
| July | +1.11 % | +0.07 % | 50 % | 6 |
| August | +0.38 % | −0.97 % | 33 % | 6 |
| September | +0.95 % | −0.77 % | 50 % | 6 |
| October | +0.28 % | +3.71 % | 83 % | 6 |
| November | +6.40 % | +10.70 % | 60 % | 5 |
| December | +4.81 % | +1.88 % | 60 % | 5 |
Every month, year by year (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | +0.1 | −6.0 | −8.3 | +6.2 | +8.3 | −6.9 | −2.3 | −6.2 | −7.2 | +7.8 | −4.4 | +1.9 |
| 2022 | −3.8 | +8.8 | +1.4 | −8.4 | −5.8 | −6.1 | +0.4 | −11.1 | +5.7 | +0.3 | +16.1 | +7.7 |
| 2023 | −1.4 | −11.7 | +15.2 | +4.1 | −6.2 | −3.2 | +8.8 | −1.3 | −9.2 | +3.3 | +10.7 | −6.0 |
| 2024 | −3.8 | −1.1 | +10.2 | +5.0 | +15.7 | −4.3 | −0.3 | −0.6 | +8.1 | +5.0 | −6.3 | −5.3 |
| 2025 | +8.1 | −0.7 | +9.2 | −4.2 | +1.0 | +9.2 | +1.7 | +8.1 | +17.5 | +4.2 | +15.9 | +25.8 |
| 2026 | +17.4 | +13.9 | −21.2 | −2.2 | +1.5 | −21.1 | −1.6 | +13.5 | −9.3 | −18.8 | — | — |
Trading sessions
How much of the day's range happens inside each session, over the last 12 months. Sessions overlap, so the shares do not add up to 100%. A session with no prices in our feed is not listed.
| Session | Average range | Median share of the day's range | Days |
|---|---|---|---|
| Tokyo 09:00–15:00 Tokyo time | 280.0 bp | 54 % | 257 |
| London 08:00–16:30 London time | 337.9 bp | 66 % | 257 |
| New York 08:00–17:00 New York time | 357.5 bp | 67 % | 257 |
Volatility over the last year
ATR (14) as a percentage of the price, one point per trading day.
How it is measured
- One-minute bid prices from the cTrader broker feed we use for our own backtests: 1505 complete trading days, 2021-01-04 to 2026-10-30.
- A trading day is the broker's: it closes at 17:00 New York time, as in cTrader. Partial days (holidays) are left out.
- Range = high − low of the period, as a share of its opening price. 1 bp (basis point) = 0.01%. ATR is Wilder's 14-day average true range.
- The hourly profile is measured in UTC and kept separately for US summer and winter time, so the hours shown in your time zone stay right all year.
- Updated every day after the market data sync. These are descriptive statistics of the past: they are not a forecast and not a trading signal.