China vs. JPMorgan: the battle over gold and silver

Commodity Online reports that Gold is down 6% and silver 12% since the start of 2011.

The market news is quoted as saying:

While there are a myriad of factors driving the prices, two of the major opposing forces are Chinese demand for physical gold on the long side and JPMorgan paper schemes on the short side. Which force prevails in the short term remains to be seen, but in the long run the paper shorts will eventually be squeezed, pushing the price for both gold and silver much higher.