Silver Price Update – Silver prices are experiencing a significant increase these days. This surge has shattered all previous records. This means that silver prices have skyrocketed beyond expectations, straining everyone’s budget. The rise isn’t limited to the domestic market; the situation is worsening globally as well. On December 12th, silver prices reached a new all-time high of $64.31 per ounce.
In India, silver prices have surpassed the ₹2 lakh per kg mark in many cities, a record in itself. Since the beginning of 2025, silver prices have risen by 10 per cent. This continued increase has drawn investors’ attention. But did you know that behind this shiny surface of silver lies a dark history? Investing in silver without understanding this history is likely to prove quite risky. Silver is also known as the “Devil’s Metal.
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Silver is often called the Devil’s Metal.
Investing in silver can often be a losing proposition. In the investment world, silver is often referred to as the Devil’s Metal. Silver earned this name because its price rises as quickly as it disappears. This is also why silver has never become a favourite metal for investors like gold. A 50-year history is behind why silver has been a losing proposition for investors. In the past 50 years, silver has only seen three surges.
Learn about the dark history of silver.
The dark history of silver prices is no secret. It dates back to 1980, when two American billionaire brothers, Nelson Bunker Hunt and William Hunt, attempted to completely control the market. The Hunt Brothers quickly amassed nearly a third of the world’s silver. During this period, the price of silver rose from $6 to $49 per ounce. Additionally, the Hunt brothers believed that rising inflation would lead to a decline in the currency’s value, and silver’s value could rise.
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This prompted them to purchase silver in large quantities. They also borrowed money from the market. The Hunt brothers’ fortunes were ruined. On March 27, 1980, Hunt Providers failed to meet a margin call. Consequently, the broker began selling silver, causing prices to plummet by more than 50% in a single day.
The Second Major Rise in 2011
The second major surge took 31 years. In 2011, silver regained its lustre. The main reason for this was believed to be America’s debt crisis. The world had still not fully recovered from the 2008 financial crisis. For the first time, the United States officially acknowledged its debt crisis. This created a sense of panic in the global market.
Investors, seeking safe havens, began investing in gold and silver. In 2011, silver prices hit an all-time high of $50 per ounce, matching the 1980s. But this rally didn’t last long. As the US economic crisis ended, silver prices plummeted. Prices fell by more than 30 per cent in six months.