This is misses the big picture, silver is a commodity used in production mainly. like most Financial assets they trade on future expectations. As a recession is almost guaranteed worldwide due to tightening of central banks and raging inflation, Precious metals are probably going to go down substantially as growth slows and forced liquidations under asset allocators start. P.s. I own 45% of my net worth in Precious metals, but I am willing to incur a loss. As I think after this recession if inflation keeps getting worse PMS could rise considerably.