Everything seems to be going just about right for gold and its poorer cousin silver these days.

Old Yeller is surging again today, rising about $9, or 0.6%, to a fresh record of $1447/oz, according to FactSet. Hi-Yo Silver is up even more, continuing a multi-week pattern, rising 80 cents, or 2.2%, to $38.01. Silver is at its highest levels since 1980, but still shy of its record settle of $48.70 reached in January of that year.

Precious...