Having averaged less than $6.00 for the entire period from 1985 – 2005, Silver has been one of the star performers in recent years, none more so than 2010 in which it has made quite exceptional progress.
It opened the year around $17.00 and almost doubled in value, with record highs continuing to be made even in the final week of the year.
Silver traded up more than 6% last week from its Monday opening level to hit a new all-time high of $30.91 on Thursday and a late surge on Friday pushed it back up to close the year at an all-time high.
Analysts expect prices to continue to rise in 2011 as demand remains high for both industrial consumption as well as investment purposes. In fact, most analysts still consider silver to be undervalued, particularly since the controversy of silver price-fixing has come to an end, removing any further negative pressure.