Silver has made a new 30 year high. During the 1980's silver spiked from $20 to $50 in just a few days when the Hunt Brothers cornered the market. It then quickly returned back below the $20 level when the COMEX rules were changed.
Silver today is still in phase 1 of its secular bull market. It will have violent up and down moves until it crosses $50 and it reaches phase 2.
Gold reached phase 2 of its secular bull market when it crossed $1,000.
Phase 2 is when fund managers and mainstream investors first begin to look at the investment and begin to accumulate, which has certainly not begun for silver.
When silver reaches its mania stage, stage 3, there will most likely be no physical above ground silver available to purchase.
You will see a spike in price that market historians will discuss for centuries.
Keep accumulating physical metal; hope for prices to fall. When we reach stage 3 all that will matter is the number of ounces you own.
For additional silver fundamental analysis see Silver Perspective, or listen to an excellent interview with billionaire Eric Sprott on Financial Sense Radio.