From today's Financial Post. Seems to contradict the thoughts of Sprott et al about silver supply shortages etc.

Silver prices fell into a bear market Monday as signs of a manufacturing slowdown in the U.S. and China, the world’s top consumers, spurred concern metals demand will ebb.

On the Comex in New York, silver futures for May delivery fell as low as US$27.81, the lowest for a most-active contract since Aug. 16. The price was down 20.8% from a close of $35.10 on Oct. 4, meeting the definition used by some investors to identify a bear market. Silver later rallied slightly to US$28.05, but stayed in bear-market territory.

AU.S. factory index fell more than expected last month, and a gauge of Chinese manufacturing showed expansion was slower than analysts forecast, separate reports showed Monday. Silver imports into China fell the most in two years in February, the fifth decline in six months, the latest customs data show. Industrial demand accounts for about 56% of global silver fabrication, which also includes the metal’s use in jewellery and coins, according to Barclays Plc.

Prices slumped 6.3% last quarter, a second straight decline, on slowing economic growth in China and concern that the Federal Reserve will trim its stimulus program.

“Silver will have a lackluster year as industrial demand is not showing huge signs of improvement,” said Rohit Savant, an analyst at CPM Group Inc. “Also, the safe-haven premium has diminished.”