Loading ...It’s the same reason every time — liquidity — which is what you described.
The idiot Comex players (think hedge funds) must sell gold for over all liquidity reasons.
This is why the open interest bubbles in Comex gold and silver are deflating rapidly as we speak.
Same set up as in 2000 and 2008, where once we hit bottom in Comex open interest we get a slow recovery as the physical markets will play a larger roll in price discovery. This was also the case in 2011 as well, where open interest remained low while thinly supplied physical markets set prices.
With physical markets even tighter today, it’s not a stretch to think prices will recover nicely soon and hopefully keep going in silver’s case.
Cheers