There have been two record highs for silver, one with dubious causes and the other with more valid ones. The price of one ounce of silver hit a record high of $49.95 on January 17, 1980. But it was made possible by a questionable deal between two people to corner the market and raise demand. Later, the price of silver plummeted by more than half.
The price of silver then hit an all-time high of $48.70 per ounce in 2011. On October 8, silver hit its highest price ever, closing at 48.74. However, Silver will reach a new all-time high for the near relative of gold once it closes above $49.95.
Silver is currently trading at $49.02 an ounce on October 9 and is trying to make history by breaking beyond the $50 mark. In India, silver is currently worth Rs 1,49,830. Silver’s year-to-date gains in 2025 have been a staggering 70%, while gold’s have been 53%. On October 1, gold broke through the $4,000 price mark, and silver is currently trying to break through the $50 mark.
Silver has performed better this year than gold, despite gold receiving the majority of the focus in 2025. The short-term performance of silver has been outstanding, surpassing the return of gold. Over the past month, gold has gained 11% while silver has increased by about 20%.
These were the times when the major rallies took place, and Silver won. Silver’s gains greatly outpaced those of gold during big price increases, such as those that occurred from April 2003 to March 2008, December 2008 to April 2011, and December 2018 to January 2021.
The gold-to-silver ratio appears to have somewhat dipped following the significant spike in silver prices. The gold-to-silver ratio has dropped to 82 from a peak of around 100, although it is still higher than the long-term average of 70. Silver is about $49, and gold is about $4,040. It indicates that if gold prices stay the same or fall, silver could rise even more.
