Plenty of inventory and premiums are pretty normal. Course, that is not a great indicator for what the big players doing, but as far as the little guys, there’s no panic to buy physical. Gold or silver.
May be more indicative of what’s happening in the real economy. It would seem that the metals are too expensive for most folks and they are more likely selling into the recent rise than buying.
As always, the smart money will be the big money.