While gold is up slightly, silver (XAGUSD) seems to be lagging behind. Is this just typical higher beta behavior, or are there specific industrial demand concerns weighing it down more heavily than gold?
I think it's a bit of both. Silver definitely has higher beta, so it can underperform in risk-off periods. But I wouldn't discount industrial demand concerns completely; that's a significant part of silver's use case.
Could also be the short-term speculative interest in gold just outweighs silver right now. I wouldn't read too much into it over just a few weeks; the long-term trend for precious metals is still broadly positive.