Silver may have a ways to go on the down side before bottoming out. I’m thinking a drop to $25. Double dip recessions tend to take the wind out of everything, especially commodities.
Soros, Goldman, and the rest of the speculators are probably shorting the hell out of it at the moment.
You know that Obama wants nothing more than plunging gas prices just in time for the election. Just watch, they’ll bring it down to $3/gallon (or lower) by next summer and everyone will jump on the reelection bandwagon. Happy days are here again! Of course, nobody will have a job, but gas will be “cheap” once again.
I expect a pull back in oil prices for a month or so (Similar things happened in early 2008, with a surge then a large correction in May, then record prices in July).