Based on sound fundamentals (money supply relative to gold, the new era of debt monetization we have no real exit strategy from, and the absolute rock and a hard space catch 22 of a death trap choice between raising rates and keeping them low) gold and silver are far from reaching their new, higher plateau.
In short, over half of the US national debt is financed at adjustable rates with adjustment periods less than 1 year out. This means when rates go up, interest payments on the debt will go up almost immediately. Given that raising interest rates is about the only way to bring inflation under control, right here, right now we are faced with a choice of 1. keeping rates low and allowing inflation to run amuck, or 2. raising interest rates to keep inflation under control, but that will necessitate a for all practical purposes politically impossible level of tax increases and spending cuts. Given that option 2 is politically impossible, it leaves no other alternative than option 1 (short of outright default on US securities by the government which as extreme as it sounds might actually be better than #’s 1 or 2). Option 1 will result in a significantly devalued dollar, and significantly higher precious metals prices from the levels we are at here today.