Macro view of Silver price during /after recession:

Silver Price Forecast: 2020’s An Ideal Long-Term Environment

The 2020’s are shaping up to be a great period for silver.

Although both gold and silver often briefly sell off during the initial liquidity-driven phase of a bear market, gold tends to hold up better and recover first, due to its safe-haven status. Silver, due to its hybrid monetary/industrial status, doesn’t get the same safety trade that gold gets.

However, on the recovery side of the recession, when the economy is in rough shape but starting to improve in rate-of-change terms, and the government is deploying fiscal stimulus into the economy and the central bank has cut interest rates and is expanding the monetary base, silver historically starts to shine.

https://www.silver-phoenix500.com/article/silver-price-forecast-2020%E2%80%99s-ideal-long-term-environment