Only this year, on October 10, it broke its previous historical record, already well "bearded", from January 18, 1980, when it closed at the price of 49.45 dollars per ounce. This closing price, which is over 45 years old and adjusted for inflation, is still a record price in real terms, at around USD 206.5 per ounce. The current nominal price of silver is thus still roughly 3.6 times lower in real terms than its closing price on 18 January 1980.
In early 1980, however, the price of silver was pushed to a record high by several months of speculation by the Hunt brothers of the USA, who bought up a third of the global silver reserves held by investors, but excluding governments, on massive debt.
The price of around $58 an ounce of silver is roughly half what the precious metal was worth a year ago. However, there are speculations in the market that the current price of silver is unsustainable.
The situation of 1980, when literally a few individuals manipulated the entire silver market, is not possible today, even with more advanced regulation. And, leaving aside the situation at the turn of the 1970s and 1980s, the current price of silver is extreme. The tendency to return to more normal price levels may soon prove strong enough to trigger a noticeable correction in the silver price.
