It means panic buying. From 15 to 26 in 2.5 months!
Inflation adjusted high is 149 in 1981. It was 30+ for most of 2010-2012. It could go a lot higher.
It is hard to value. It can be mined in Mexico for $5/oz, but those mines are in terminal decline and new mines are $18 and up. Solar panel makers will pay $100/oz if they have to, but will also invest R&D to find cheaper alternatives. X-ray film uses a lot of silver, but if it gets too high poorer countries especially will switch to digital. And private investors treat silver as a Giffen good, they want more as the price rises in violation of the axiomatic law of demand.
