"Gold and silver isn't doing much in loonie terms."

You can say that again and again. Nor is it doing so in most world currencies.
To repeat myself: Gold price is no moving up as such but that the US $ is going down and the gold price being priced in it reflects that.

If one checks with Kitco.com the percentage rise of gold price in other currencies, as I write, the only currencies that show gains of over one percent are Chinese, Hong Kong and the US$.

I excuse the Chinese because they are probably grabbing all the gold they can thus pushing the price up.