"Don't look it in the mouth". That's what they say about a gift horse, meaning that you just take it and move along, and right now, I'm pretty sure that if you look up the definition of "gift horse" in the dictionary, you'll find a picture of silver right beside it. From silver's recent highs of, call it, $28, to recent lows of, call it, $23.25, we're talking about a decline of almost 17%. If we really want to get technical about it, from silver's recent intra-day spike high of $29.915 to its current (today's actually) intra-day spike low of $23.22 (so far), we're talking about a decline of over 22%, which, if we want to use Wall Street jargon, means that silver is now technically in a bear market.