this week on financialsense.com, they discussed the gold market, and listed the following bullish factors:

increased jewelry demand from india and the middle east

high inflows to etf's

negative real interest rates in the us, china and others

central bank sales decreasing

mining output decreasing

producers re-purchasing their hedges

strong commodity markets

increasing geopolitical risk

almost all of the above factors apply to silver as well. this week the gold price was driven down by the sale of 30 tons by a central bank, but even then silver held up better.