Peak mined silver reached Stock image. Spot silver jumped to $28.32 an ounce in August 2020, its best performance in seven years, and though the price retreated last fall, it finished the year up an impressive 47%, more than doubling gold’s 22% gain. Silver climbed 47.8% in 2020. Source: Bloomberg via Sprott Insights In late January silver kicked higher after a Reddit WallStreetBets subpost triggered a call to buy. A flurry of purchases saw silver blow past $28 and touch $31 briefly, before falling back. Since March, the white metal has been trading in a fairly tight range between $26 and $28. Sign Up for the Precious Metals Digest