The silver bugs are a special bunch but they’re having a moment today. Silver rose nearly $4% to $41.22/oz today, which is the highest since September 2011.

It’s been a nearly straight line from $30 to $40 but I would highlight the left side of this chart when silver when from $18 to $50 for the kind of momentum that silver can generate. Those who missed out on the gold rally could soon pile in and break the all-time high.

The factors driving silver are the same as those driving gold, with some industrial demand thrown in. Mainly, it’s the slump in the US dollar and worries that the Trump administration is going to undermine the Fed’s mandate or destabilize the country.

One caveat is that silver seasonals are poor in September so it may be worth waiting for a pullback.