Short term can't say but long term the fundamentals are all still there for higher prices. Large and growing demand from Asia, large demand from industrial, large and growing demand from India. Mines are increasing output and scrap has been coming in at high levels but I imagine the big scrap influx has pretty well played itself out. If investment demand stays steady or grows, mine output and recycling will not be able to keep up.

Embry interview

China demand

The run up in the 80's was pretty much a USA thing. This time there is world demand. China and India are the ones to watch. Most anti gold/silver sentiment doesn't make that connection. A rising middle class in two of the most populated countries that don't trust their governments paper money to begin with is a very large market to satisfy. Chinese citizens could not even own gold in the 80's. Now their government is even encouraging it by making it available for purchase at banks.

Lots more articles out there on India and China purchases and demand. Just don't have the time right now to hunt them up but a Google search will bring lots of information up. 

Here is a good one on gold but the same could be said for silver.

Most Americans will not get in to the market till it is much too late. They tend to trust their paper currency. Other countries that have went through currency problems much more recently already have the proper mistrust in their paper money and know the value of metal to maintain buying power when paper money is being debased. They will be the ones to drive the market higher. The US citizens will jump in at the tail end spike up. My opinion only.

John