Declining volumes Whilst scanning the charts I noticed that the trading volumes on all US exchanges have been declining steadily for the past three years. I found this article which confirmed my observations.
https://www.businessweek.com/news/2012-03-12/u-dot-s-dot-stock-volume-lowest-of-2012-as-rally-awakens-few
It appears that the money has moved mainly into bonds. There could be a number of reasons for this but I'm betting that safe-haven thinking has been the major factor. The question is whether things will change soon. If bonds suddenly become unpopular, we could see a lot more money coming into the oversold PM sector.
Tm