It’s inflated and the bubble will eventually bust or peak will be reached and stay there a long time as inflation catches up.
The bubble on what will bust/peak? Silver?
Silver has been held artificially low for over 100 years, for bankster manipulations. There is a fundamental dilemma, with artifical lower prices, and manufacturers taking advantage of those prices to create a huge solar panel industry with silver that collapses when silver returns to its inherent value, as priced in fiat dollars. If the above ground supply of silver was distributed to each human, everybody would have 0.4 ounces. Figure that’s a lot less, given that governments and industry and banksters hold a large proportion. Silver is rare.... not like tulips, not like fiat, not like dollars.
So, to the question of what bubble peaks/bust, I’d say its the fiat currency bubble. It’s headed to 0 (financial reset), and will be replaced with a new system, as the old one has reached its end-of-life ($38T+ debt).
The old system (i.e., current system) is debt-based, and the next one will be asset based.
Silver is an undervalued asset for many years now. Industrial use alone uses more than is mined every year for several years now. Industrial use is expected to increase by double in the next few years...