Silver prices have surged dramatically, more than doubling this year and reaching a point where an ounce of silver costs more than a barrel of oil. This ratio, currently around 0.8, is historically abnormal, with the average since 1975 being 3.8. Experts suggest this indicates a speculative bubble in silver or that oil is undervalued. While silver is not considered a solid long-term investment at current prices, traders are advised to manage position sizes due to volatility.