The recent rise in Silver has outperformed that of gold. Some of it might have to do with the fact that Silver had fallen more sharply too. What is clear about silver however is that the fall from the March 08 highs was a clear 5 wave decline marked as A. At yesterdays highs wave A is retraced 61.8% [16.44] and wave B might be ending here. Till 16.44 is crossed clearly wave C should be starting from here. Wave C will be at least equal to A and could potentially go below the starting point of A i.e. below 8.42 and possibly as far as 6.5 over the next 12 months.