Gold has been setting record highs (in nominal terms) this past week. Gold and silver tend to move in the same direction. Silver also tends to be more volatile than gold. When there is a bear market in metals, silver usually does worse than gold. But in a bull market, silver often goes higher in percentage terms than gold.
This has not been the case lately. Silver has done well, but not as well as gold. While silver does have a history of being used as money, gold does even more so. Central banks around the world store gold, but not silver (at least that we are aware). The U.S. dollar has been strong lately compared to other currencies, particularly the Euro. But gold in terms of U.S. dollars has still done well. With uncertainty in the world, with massive debts, and with all of the other problems created by governments, some people are turning to gold. Central banks are also putting a floor under it. While there may be a pullback in the short-term, gold and gold related investments are still a good bet even at current prices.