I think the current pricing in commodities is a result not so much as being based on the underlying value, as it is based on the fact there there has been literally hundreds of trillions of “dollars” in fiat money created. (not just “dollars”, you know what I mean).
A simple couple ticks up or down on the Stock market in one day exceed the whole worlds gold and silver traded in that day.
There is vastly more “dollars” traded daily in oil and coffee than gold and silver.
Yeah. When I told my father about the “cheap” silver I saw somewhere, he said he really is not interested in the “value” of silver and gold. Rather, he focuses on the value of the dollar. Which is why he invests in so much physical gold and silver. The dollars he is using to purchase them are really “dead dollars walking”.