That's an interesting point of view...and short term, you may be slightly correct depending on your definition of risky. But understand that those that buy phyzzz generally are buying and holding for long term. Buying at prices that haven't been seen in 6 or 7 years hardly seems like a 'very risky' proposition. I mean the rule generally is buy low, sell high...correct?
Buying physical at this point in time is very risky, there is no reason for pm's to rise in price...IMO