The night is coldest before the dawn. The mood is peaking right before the rally.
Here's a wave labeling of Silver - it's a bit different from Gold as it seems to have one extra wave degree which was unfolding in a slightly different manner compared to Gold .
Gold didn't have a triangle in its wave structure while Silver seems to have one.
Silver declined much deeper than Gold , but the bounce in % terms will also be larger. The margin requirements for Silver are usually 2x of Gold , but on the return-per-margin basis Silver will still be more attractive.
I'm waiting for wave (X) to start next week which in my estimates is supposed to last until end December and is supposed to end at the same time the correction in DXY completes. Once DXY enters w5 rally, Gold and Silver won't be able to hold and will plunge again.
I'm not fully convinced that the advance will happen - but if it happens, it needs to start next week, bouncing off the correction developing on 1H charts. If the rally doesn't start in the next few days then the momentum is lost, all bets are off and we are into another wave of decline.