This from Steers report today regarding a large silver buy....

"The Zürcher Kantonalbank in Switzerland reported a third straight week of declines in their gold ETF. Last week it dropped by 33,143 ounces. But, once again, their silver ETF had another phenomenal week... they reported adding 1,034,829 ounces troy! [I thank Carl Loeb for these numbers] For many months now, large quantities of silver have been going into ZKB's silver ETF. Someone with deep pockets, dear reader, is buying huge quantities of silver. I would guess that whoever is doing the buying knows what we know... silver's days, as a cheap metal, are numbered."