In reading the title, your initial response may be one of doubt, yet hopefully curious enough to hear me out. If I am wrong, I will have no problem in admitting so when the time comes, and that is all I am going to say about that.
First, let us take a quick recap on how far silver has come.
From 1970-2002, Silver has been an approximately an overall flat investment (on an annual nominal basis). The one major exception was the great silver spike that had silver surge touch 50$ at one point. You can read about it here.
If you bought silver in 2002, you would be up approximately 600% with current spot price of silver at $28.01. In doing some simple calculations, that is an equivalent return on investment of ~25% per year, annually compounded.
Silver has been forming a short term exponential price function since 1996 with its only big “hiccup” in 2008. It is important to know that in 2008, the price of silver (& Gold) dropped due to futures and options of silver (&gold) selling off, not physical silver. There is a lot of long exhausting research that has been done on this matter, and I will leave you to this link as a starter for this topic.
Since the lows of ~10.50 in late 2008, silver has gained approximately 275% from lows in 2 years for an annual return of approximately 66% annually compounding returns (idealistic timing).
Now focusing more on the short term, let us check the previous 5 months in silver. Starting from August at $18 to our current $28 dollar level, silver has gained an impressive 55% strongly suggesting an upward direction in only the last 5 months (from a once completely dormant metal for so many years). It is quite a sight to behold, and one must ask the question will it continue? And what will future prices look like? And how soon?