Premiums are certainly not exuberant especially on the Sprott funds where they are downright thin by historical measures.
The metals were hit about the time that Bernanke started speaking. The short selling trading desks like to key off certain events in order to try and generate a little downside panic and some quick profits from a wash and rinse.
A strong and honestly efficient market with specialists who manage such irregularities would minimize the effectiveness of such efforts, and failing that, which always happens under any system of self-governance, official regulation would prohibit it. Unfortunately the US has neither, and no prospects of any near term change for the better.
This is how it is when markets are left to the machinations of insiders by the abrogation of justice. I think the paper veneer is covering a harder core of bullion held by stronger and stronger hands. Shortfalls develop and leverage increases, and at some point that tired old strategy fails badly, and then we have fireworks to the upside.
This lack of small investor enthusiasm may be bullish for more gains in bullion, after some short term shenanigans by the price fixers and market manipulators, who act largely unaffected by the regulators.