Not to be a downer but there's also "both" as an option. There's actually a 3rd option, possibly concurrent with the others, which is that silver usage has sud

Not to be a downer but there's also "both" as an option. There's actually a 3rd option, possibly concurrent with the others, which is that silver usage has suddenly dramatically increased and the new demand has forced a higher equilibrium price, but I don't know if that's happening here.