Gold and silver price rises usually go hand-in-hand. Since February this year both have seen a significant decline in price after a huge rally (especially silver, which was halved), but since a month both seem to start rising again. Factors driving this seem to be, according to the interwebs:
The Iran war - causing oil prices to spike, while precious metal prices fell. What may be a cause is that this spike in energy sparked global inflation fears: in response markets expected central banks -especially the FED- to aggressively raise interest rates to combat inflation: resulting in investors dumping them in favor of cash liquidity and high-yielding government bonds, because physical metals pay no interest yield. Currently there seems to be a stalemate, oil price fluctuations seem to have cooled off, and the speculation that a solution may be nearby in the future may push investors back into precious metals.
This goes hand in hand with: The US treasury doubling the size of its liquidity support buyback operations for 10-to-30-year government securities -> the interest rates go down, making investors pay less interest just for holding precious metals. Also, the value of the dollar decreases, making precious metals an attractive hedge.
Thereby, according to the world gold council, gold is bought by banks at unprecedented rates. This institutional appetite is absorbing a large amount of global gold supply, leaving the market highly sensitive to upward price spikes whenever retail investors jump back in.
Another interesting factor is that the demand for technological industries, which are booming right now, is higher for silver as compared to gold. So, in my opinion, the signals for a strong silver rally seem to be there. It is also moving below its 200-day average, though with the huge rally that predated this, I find it difficult to judge if this means anything. Of course, aforementioned factors are volatile, and this remains highly speculative... What is the opinion/stance here?