Has silver fizzled out as a physical investment for 2011?

When I started practicing financial trading full time, silver caught my attention after it's flash crash in pricing during May 2011 from the price point of nearly 50 USD/Oz. That was a great time to have Short sold commodities, however, my lack of experience then had led me to losses since I was a long in Aluminium and beginners nerves kept me from going short.

Apart from shorts in Silver, short selling Zinc or Lead could have been very profitable then. There has been a lot of hype about Silver over the last few years in commodity trading circles. Since the 90s when Silver started rising in price from ~4 USD/Oz, Silver has been proclaimed a more profitable physical investment than gold. There have been reports about rich farmers in India purchasing silver bars this year (2011) although these reports were published before the crash in Silver in May.

Supply wise, silver is more rare than gold as far as purchasable silver is concerned (this does not include recyclable silver that may, not necessarily easily, be recovered from scrapped electronics.) Demand wise, silver has been touch and go since May. I'll wager on Silver when it reaches and stays above USD 51 which is probably going to happen in early 2012.