My analysis:
I hold silver and gold as long-term hedges. Silver is up \~105%, largely due to strong industrial demand, macro tailwinds, and speculative inflows. At current levels, valuations feel stretched and volatility is high. Gold has also risen but remains more stable, supported by central-bank buying and geopolitical risk.
Question:
Does it make sense to book partial profits in silver and rebalance, or continue holding based on the long-term thesis? Should gold be treated similarly, or is holding preferable?