An ETF still exposes you to the risk of a decline. In my opinion I do not believe this is a good entry point. Timing is more important than the idea itself. However, you need to do your own research. I could be wrong. My trading accuracy is about 80% so that means I am still wrong 20% of the time, which is alot. You seem to really be stuck on this idea, so focus on timing it would be my advice.
All these macro things may be right, but they do not translate to the price rising every single day for eternity.
Buying Silver or Gold, and buying real estate right now are the same decision in my mind. They may bring a profit, but the risk is very high. The COT report just released did not show much in the way of professional selling in Silver yet. Gold was about the same as last week, which did show commercials getting out of longs but not so much that it is a no-brainer to short this thing.