Silver above the bee's knees

Silver got within a bee's of the $30 mark overnight in New York trade, closing at $29.60, a 3.3% rise for the day.

Kito.com cited the following reasons for the rise:

The market place was in a firm “risk-on” mood Wednesday, as traders and investors are hoping the central banks of the U.S. and European Union move soon to ease their monetary policies. The European Central Bank meeting Wednesday produced no such results. Fed Chairman Bernanke speaks to U.S. lawmakers on Thursday, and traders are wondering if he will hint at further U.S. easing of monetary policy. Many reckon it may be a bit too soon for the EU and U.S. to start fresh monetary easing strategies, but they also reckon odds are better than 50-50 that such will indeed occur in the coming weeks or months.

Chart from silverprice.org