I'd think,
it's because less people mining right now,
because Chinese Wuhan Flu lock downs,
10's of thousands of ounces, not being mined daily
(much like the Discovery show Gold Rush, had said a while back)
IMO, right now, it's a supply & demand deal
less supply, demands more $$$ (basic economics ?)
when the demand for products, that use of Gold & Silver, is still there
would be my best educated/wild *** guess
as to why both Gold & Silver are up
stock market is truly baffling sometimes for rhyme or reasoning
sometimes it's a run on product,
driven by big $$$ investors, hedging bets,
big $$$ manipulating stocks &/or commodities
& boosting their own investments
sometimes it's a boom &/or supply & demands too
sometime it's "insider trading", someone knows something
more than others & that's driving prices,
people see the rise & want to get on that bandwagon
just not to be left out, frenzy/speculations
Silvers high was like $50+ an oz.,
IIRC wasn't that way, way back in the mid late 80's ?
during the 1st real tech (cellphone & computer) boom ?
it's no where near that level "yet"
people worried is another one,
Gold & Silver will always be usable as some sort of currency
so is lead