Yes, silver is not performing very well. But take a look at the gold/silver ratio, currently 64.25, which exceeds the recent high on February 11, 2014 of 64.00. The highest it has been was in late 2008 at 83.86. The 50 DMA over 2 years has broken to the upside of the 200 DMA, just barely over 4 months, and the RSI is at 65.39 over that timeframe. 70.00 is generally considered to be an indicator of a reversal, which in the case of this ratio either means higher silver prices or lower gold prices and all the other indications in between.
The AU/AG ratio of 83.86 of late 2008 seems to indicate the public had started to plunge into silver for protection as the ratio plunged while the banksters didn’t care to show their hand at their dire financial circumstances (or had already bought PM protection by socializing their losses). Currently the banksters (in China or wherever) would back off their gold purchases and there would be rotation into silver, bringing the AU/AG ratio downwards. That doesn’t necessarily mean silver would gain pricewise, except in terms of the ratio, but it has been in a holding pattern that could indicate higher prices. That also could mean much higher prices for gold and even higher ones for silver. A TRIPLE BOTTOM has formed in silver beginning in late May of 2013.
These, of course, are longer term views of this sector. Short term views only benefit vendors, be they brokerage firms or the hard asset vendors, as the customer side is paying the freight and risking being whip-sawed in a non-contrarian manner.