Last evening over a couple (or more... quite a few more) beers a long time friend and I were commenting how things haven't changed in the PM markets except for intensity.
On the criminal side; physical off-take is still their Achilles heel, they still have their get out of jail card, they still have an unlimited amount of fiat at their disposal, they are more determined than ever to control the metals, they can play with share prices to their heart's content and our nad-less regulators do nothing, they are now in-your-face and unable to hide what they are doing.
On the good guy side; private investment demand is accelerating, institutional demand is growing fast, new investors are starting to become aware of the metals and fiat risk, new mine supply is shrinking, both CRIMEX eligible and investor forms of metals are tight, nations are shifting more to the buy side.
All of these factors have have been around for years, but each one seems to be increasing in intensity. I can only summarize today as stressful. I am not referring to personal stress, but the stress that happens when an irresistible force meets an immovable object.

In my opinion it is the fundamentals that will decide the ultimate outcome and the intractability of the criminal element that will most heavily influence the timing.

My friend observed that if the cabal craters at about the same time as J6P wakes up to ECU, we will be suddenly happy campers.