Silver prices surged to a high of 93.50 this week, approaching the first resistance level of 94 for the year. Interestingly, when silver prices are at their weekly high, they are already 215% above the 50-month moving average. Such extreme conditions have only occurred twice before—during the February 1974 surge and from October 1979 to January 1980. Both times coincided with periods of intense volatility in the financial markets. At this level, it indeed indicates that the enthusiasm in the precious metals market has reached an extreme stage. For traders who include silver as part of their asset allocation, this data is worth monitoring to see how it develops next.