If this is true then why did the metal exchanges experience record quarterly outflows of physical metal when gold was still at $1600 and silver was $28? Institutional money is getting on this train. China also had record monthly inflows of gold in March of this year, nearly double the previous record. All this occurred before the recent smackdowns which have only accelerated the process which is independent of them. This is not because of us little guys backing up the truck with our middle class wages. We are just along for the ride.