It seems the big move up yesterday, even during the US market hours, has been sold off to end up back at about $33. The price got as high as roughly $34.40, which was a target given by Gunner24.

Oddly, silver is not acting very volatile during the NY session today. Gold is back above $1400 and maybe catching up a bit to silver’s recent gains.

Here is an interview with someone considered an expert in physical assets, John Hathaway:

[1] http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/21_John_Hathaway_-_Silver_Breaks_Out%2C_Paper_Market_is_Nonsense.html

This guy is very no-nonsense. It is a little odd that silver rose so much yesterday when the NY market was closed, though it makes sense - the big boys weren’t there to clobber the price.

Some other targets are $37-38, but maybe that is a stretch. Anyway, if there will be a flood of deliveries, the short squeeze scenario will get played out. There could be a bear raid soon, but that kind of action has not happened yet, aside from the sell-off that happened earlier today in Asia and London.