Due to a surge of physical buying out of India with the onset of the Diwali holiday, Indian markets were closed and buy orders were routed to an unprepared London Bullion Market Authority, which resulted in spot premiums for silver zooming from the normal equivalent of 25-30 cents to over $5.00 per oz. Although the backwardation did not last long, it was viewed by many analysts as the first sign that the dam is about to burst, and that supply and demand are going to supplant the paper traders in the preciou ...