From Economist.com: Silver reached its highest price since 1980 yesterday at $36.70 a troy ounce while gold managed a new (nominal) record of $1444.40. But the junior of the precious metals has been on a tear over the past year, easily outpacing gold.
Remarkably silver has even in backwardation - spot prices have been higher than future prices. Traditionally the precious metals have showed the opposite pattern, with futures prices higher than spot……………………………………….Full Article: Source