Från Ed Steers blogg:
It occurred to me that there were two separate warm up games in which silver ran to $50; in April 2011 and thirty years before that in 1980, when the Hunt Brothers were found to have manipulated the price of silver higher. In fact, the long term chart of silver is defined by the two sharp surges to $50 on those two occasions, amid years of flat or declining prices, not dissimilar to the past three and a half years. To my knowledge, few other commodities have that unusual double spike in price that exists in silver.
More remarkable is that each silver price run to $50 came from extremely low price levels existing in the years before the two price spikes. In other words, when silver does run, history indicates that it runs like it is on fire; racking up the biggest percentage gains of all. Those two facts alone – that silver ran to $50 twice and the gains far exceeded the historic gains of any commodity (or market) – should be enough to attract investors at current depressed prices. After all, no one can deny that silver can’t go to $50 again, seeing how it’s been there twice already. And if it does run again, the percentage gains will likely exceed any other commodity or market. – Silver analyst Ted Butler: 17 August 2014