The last few weeks the Baltic dry Index dropped quite a bit, which indicates a slowdown in the Chinese economy with its commodity trade. Even the Panamax and Supramax (for smaller ships) is dropping, which confirms the slowdown in every sector of the freight transport economy.
This will be bad for industrial commodities going forward. I wouldn't rule out silver correcting downwards, if this trend continues.
A possible reason for this drop could be the drop in prices of Chinese properties as can be seen on the Shanghai Property index: