Silver is slightly less malleable than gold. It has an appealing metallic luster that takes a high degree of polish. Silver has a high degree of electrical conductivity, but copper is used more for electrical purposes because it costs less. Silver reflects almost all light and is the world’s best natural biocide, What Happened In 2011 To Increase Gold And Silver Prices? Gold prices hit an all-time high of $1,900/oz. in August 2011. Earlier that year, silver ran up to just shy of $50/oz. The precious metals surged as a consequence of Federal Reserve Quantitative Easing programs, rising inflation fears, and a spike in investment demand for physical bullion.