This request would take pages to explain. Bottom line - it's been one of the most manipulated markets ever. Banks control the issuance of ETFs that are used as the basis for the "value" of the physical metals. They dump millions of shares of the ETFs into the market to drive the perceived prices of the physical metals down. (spot price) Why the hell the two are seen as the same is absolutely beyond my comprehension but, that's how the big banks keep the people blind to the truth.
If you really are new to this, as in just the last couple months, welcome. You might just be getting in at what will prove to be the best opportunity in years. This market did the same thing in late '08 as all other markets tanked. If you bought in then, you did very well and are still way up on both gold and silver.
Anyhow, go here:
There's a ton of information on there. Just sift through the stuff about how the price will go up a million bajillion by next week. There are some very knowledgeable folks on there who have been in these markets for 50 years.
As for me, I've been adding on a consistent basis. Like all markets, it will fluctuate. Now is a huge acquisition opportunity in my opinion.