Too bad not everybody's can benefit from today's surge. Some juniors operating in Bolivia took it on the chin today like South American Silver Corp down over 20 % ouch. It seems like Evo's trying to get himself some freebies for his reelection campaign or just to survive the surge in food prices in his country. If the mines do get taken over from the state this will obviously be bullish for silver over the medium term as the capital investment will not be sufficient to maintain production levels.

There is also the chance that Humala will win the election in Peru. He has already stated that he will nationalize a Natural Gas producer. If he ever decides to do the same with the major PM and base metal mines this will further fuel the medium term price for silver given that Peru is the Nº 1 producer. I bought more bullion yesterday from First Majestic. A few months ago there's no way I would thought I would be buying silver in the near future at $40. In a few years I'm quite confident this would result as a great move.