It goes to show how little "industrial demand" or backwardation affects the silver price.
This little spurt was caused by a lousy Bernanke speech where he hinted that there may be another QE on the way.
As if that was news...
I believe the price movements are currently 100% manipulated. That means whatever the price does, even after a Bernanke speech, is irrelevant. Everything will change once the paper silver scam is exposed.