Silver taking off again!
(www.marketwatch.com)
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AI says… The largest bank trading silver is typically considered to be JPMorgan Chase, which is heavily involved in the silver market, particularly in the trading of silver futures and physical silver. Other major banks also participate, but JPMorgan is often noted for its significant role.
It’s a wait and see if they’re still kicking this week
If we are to trust reports...JP Morgan quietly exited their short positions (while panning precious metals as a bad investment), meanwhile they were accumulating massive amounts of physical silver and taking long positions. It is said they now have 750 million physical ounces of silver. So, with that said...I think JP Morgan is in the clear. I know BoA was heavy short on silver and if they didn't follow JP Morgan....they could be on the chopping block for a short squeeze. What is clear is that today there is massive activity to drive the prices down. Massive gaps in prices between Chinese physical and New York paper silver.