“The largest holding of silver in history"

Posted | 06/02/2014 / Views | 2489
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That’s how COMEX analyst Ted Butler describes JP Morgans current physical holdings.  He has calculated they hold up to 200m oz, a bigger position than the legendary Hunt Brothers had.  Whilst prices plummeted in 2013 they were COMEX’s biggest buyer of silver and in that one year made over $3b profit in closing their gold positions and reducing their short position in silver.  But it seems they arent finsihed as they still have a big short position which of course allows them to buy more and more at cheap prices.  He states that the day they stop trading short will be the day the silver prices takes off and they clean up with all their accumulated physical silver.

Whilst some cry foul at such manipulation, the fact is they are big enough to do it (200m oz is equivalent to 1 quarter's profit for them) in what is a relatively small market and as you can see make a very tidy profit.  The possible opportunity for ordinary investors is to ride their coat tails and buy physical silver while the prices are low.