if the US bond market starts to sell off, metals will get hurt by rising interest rates. already gold has shown itself to be a poor safe haven. despite all sorts of calls for $2500 by year's end, it's thanksgiving and gold is at $1683.70. silver has fared even worse.
i'm not saying AUMN is a bad company, far from it, but i do think metals could be in for some pain, especially if the eurozone crisis leads to global deflation.