This is a textbook example of Silver suppression. Silver has been moving upwards rather strongly and is threatening the key $35 level. Therefore JP Morgan nearly always tries to suppress this by smashing it down by dumping millions of ounces of fake paper Silver onto the market in a very short period of time. It drops the price and then the high frequency robot traders picks this up and amplifies the move to silly proportions! And this large move here happened in less than 5 minutes!
However it's rather promising that the price shot straight back up though. This shows great upwards strength. The next few weeks will be very interesting, especially as the festive months are historically very good for Silver prices...
Also, the speculative side of me is thinking that this was also a very large stop run. Basically the powers that be can actually see where everyone's stop losses are, so a stop run is where the market is driven down or up to stop people out (get you out of your trade) so that a large order can be conveniently filled...
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