I don't know how long Financial Collapse Fear will keep gold and silver high. Smart old money looks at the Great Depression trying to anticipate what will happen.
After the 1929 crash the stock market didn't bottom until 1932. Roosevelt's New Deal failed to restore the economy. The markets and economy plunged again in 1937-38. The stock market did not recover to 1929 highs until 1957!
We are ungoing a similar deleveraging/restoration of confidence post 2008. Following the Keysians this time we've used trillions in debt to mitigate the worst effects. Our stock market has recovered. But that does not alter the size of deleveraging, only the timing.
So nobody knows how long gold will remain high. The EURO has not played out, for example.
Gold trades in opposition to the dollar. Things are booming at the moment, just hang on to your gold. I was, and am content to have added in December. You should always have some gold as part of your diversity strategy.
Fear of financial collapse (2008 Crash effects, EURO implosion) led to both metals becoming safe harbors. Both are wildly inflated. In normal times that $40 silver sells for $5-$8 bucks. As worry subsides (as is happening now) they decline.