Gold money will change for smaller money in order to make smaller transactions, one ounce for twenty of silver, or 6000 of copper.

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As of late morning in New York, all four of the precious metals and all six of the base metals were sharply lower, with losses around 1.5% or more for silver, platinum, palladium, copper, nickel and tin.

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Silver and copper are smaller markets, but their adherents argue that the industrial demands for the shiny stuff by nations that must build out their infrastructure products such as the fast speed transportation system in China or the ports of India, Thailand another emerging markets clearly suggest a shortage of silver and copper, possibly iron ore as well.

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