Im neither a holder or a short. Why would gold and silver go down if we have printed 2-3 trillion along with the rest of the world and continue to debase our currencies?
1) Less demand for industrial silver caused by further economic contraction nets out as less demand for silver.
2) Banks in Europe and Japan may need the cash, so they could be selling.
Look a chart of Rhodium (precious metal). It crashed VERY hard despite the "printing of money"
Silver is in a speculative bubble. The bubble is crashing.
Silver & gold are technically weak & have been for some time. These are healthy flush outs. A far cry from a bubble. We'll see who's right.
Money moving out of silver into the Stock market and real estate.