The first week of the new year started with optimism for Silver as the metal gained $0.94 on the week.  However it has yet to break through the psychological $30 barrier which could make it vulnerable to further drops.

Silver is recovering from the large sell-off from the previous two days, suggesting a bottom at $27.  It's trading at $27.84 as of 1 p.m. PST.

Silver is down big this morning, sinking to $27.12 as of 11:08 a.m. PST.  Commodities and stocks are down across the board, and silver is going to be struggling into the New Year.

Silver is down on thin trading.  I expect it to remain this way until after the new year when people return to work.  Currently trading at $28.68 at 11:07 a.m. PST