Gold and silver continue to push higher, curiously, at the same time as variables that normally trade in the opposite direction, namely government bonds and the US dollar, move upward in tandem.

The quandary leads AOTH to ask: who is buying the precious metals?

As of this writing, on April 12, spot gold was at $2,336 an ounce and spot silver was at $27.94. Gold is up 14% year to date and silver has gained even more, 18%, despite headwinds.