A lot, the metals are heavily shorted to keep people out of speculating in them, and basically they are the competition. Look at the charts, every time gold takes off or silver, the markets have to go down. That is on an intraday basis.
Largest net short seller of metals is jpm, this is how they have boosted their stock and run up the markets along with goldman, and others. The delivery dates on all the metals have been postponed and now they are offering cash payments. The rumor is they don't have the metal to deliver. If that is the case, they are in default and will have to show that on their books. The only way to come up with the extra cash, and fast is the go short the indexes they have ran up.