One BIG difference is that last year people and funds were scrambling to raise US $s and they sold everything to do it. They flushed the baby out with the bath water.

Today people are looking for alternatives to fiat. Not just US $s but all fiat as central banks race to devalue their currencies.

Another BIG difference is that actual requests for physical delivery is increasing to the extent that once again the CRIMEX has changed the rules and is now aloud to settle in shares of metal ETF's who's metal holdings never go down.

And though I can not find any data to back this up, I think that the globe is now more aware that the CRIMEX is a casino whose games all favor the house. The only way to win is to call the house bluff and take delivery. It is the lack of confidence in the CRIMEX that will be their undoing. As soon as people/funds see that actual metal is much less abundant than is currently believed, it will lead to prices that will be on the evening news every day just like in late 79 and early 80.

I personally believe things are different now than in the past and the metals markets will reflect that in the not too distant future.