US has issued 3T in new debt, which is about 15 times the GDP, plus or minus a few times. That makes the spot value of the dollar equal to about 1/15th what it was a year ago. That makes gold equal to about 15 times what it was a year ago, or maybe 900x15=$13,500 per ounce. Then silver should be about 1/40th of that or $337 per ounce. Now, as large as those numbers seem, the market will probably inflate to double the true valuations, before it collapses entirely. On the way to these space orbits, we will have many many rallies and pullbacks. imo
ZSL is not the best long term chart to look at because it contains decay from the 2x and likely from contango (especially if it works with future contracts). AGQ shows a relatively flat 2 year plot with a huge spike from the three last months. I am just looking at a time horizon of weeks to put some money. AGQ seems to easy and I am skeptical about a continuing ascending line in the chart.