Scott Redler, chief strategic officer at T3Live.com started shorting silver last week, "I am still net short and I
Silver could also be experiencing a knee-jerk reaction as the metal almost touched $50. "The first time around is always great to get short because you can stop yourself out," says Mihir Dange, trader at Arbitrage. "I am looking for a pullback before silver attempts to make another high." A similar pattern could emerge if silver makes a run for a new record. Although technical trading was playing a big factor Monday, a weaker U.S. dollar has been the most recent catalyst. The U.S dollar index was 0.14% lower at $74, recovering from a deeper selloff earlier this morning which has added to volatility in the metals. The dollar has been suffering recently as investors worry the U.S. government won't be able to control rising debt and that the currency will continue to lose value.