Because the market was so hot, investors were buying everything. It was like a frenzy with prices going up so fast.

Many investors were sidelined awaiting the outcome of the 20-year JGB auction while firmer equity prices also kept market participants at bay.

The market is in a consolidation mode after recent gains. The rise in crude prices is also providing investors an excuse to sell.

Speculators and investors have the precious metals market in their tight grip and are just forcing prices higher.

In a more balanced market there's not the feeding frenzy.

We're in a skittish market and the last thing you want to do is surprise investors.