It could be lots of things. The first thing I would look at is the tires. How worn, are they properly balanced and inflated? Then the wheel bearings, check for wear. My experience is 60k about does it for front wheel bearings, I would change them anyway if they have never been done. CBR Bearings is the place to get them as they sell only US or Japanese bearings, no Chinese. Rear wheel bearings last way longer, usually.
Then check your steering head bearings. They are probably OK but jack up the front end and check for any play or roughness.
Shavings under the cap on the R. swingarm bearings? Yep, it needs replacing. I would go ahead and do both sides and would not ride the bike until everything has been fixed.
John, Medina, TN - 2003 Honda ST1300 ABS, 2011 Kawasaki KLR 650, 2012 Ducati Monster 1100 EVO
2017 HD Road Glide Special