RE:Iran and Israel I agree that there is a likelihood of an unknown disruption coming from the Middle East, and that's why I think that it's prudent to have some Gold and a short position in the S&P as a hedge rather than a large silver position.
Don't get me wrong, I've been stacking silver since september 2014 and continue to do so on a monthly basis, but that small hoard is there to protect me against dollar devaluation and decline of dollar influence globally, in addition to general price speculation.
I think it's important to separate risks into their various baskets. Even though these risks are related, the market will react differently acoording to which one asserts itself first. Not saying that silver won't provide a certain degree of protection in the event of widespread war in the Middle East, but there may be better vehicles for that in the short term, such as Gold or stock market short positions.