The precious metals prices have been driven by speculation. One of the reasons given is the printing press even though inflation of the money supply is consistent with the past decades.
The only hyperinflation I see is in the price of gold and particularly silver which is going almost straight up, something that is unsustainable. Try making the argument that gasoline is not going up in relationship to silver after the silver speculation bubble burst and it won't hold water.
"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.