They definitely are. However, as the paper ETFs flow, as Deutsche Bank, HSBC, Scotia Bank, the ESF and all the other players attempt to force the beach ball under water, it's gaining pressure. Once the banking system goes down, gold and silver go up.
They're not meant really as an investment but more wealth insurance than anything. That's a long term hold. So the artificial bear market we've seen most notably since 2012 will not last. Instead, it's just incredibly undervalued. :)