JP Morgan increase SLV holdings by 500 Percent

Posted | 18/06/2013 / Views | 2114
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JP Morgan increase SLV holdings by 500%

We’ve just seen an official report for the holdings of SLV (silver ETF) in the current quarter that shows JP Morgan’s holdings increasing by a staggering 500% to just over 6m shares.  Why important? – JPM are reportedly the biggest shorter of silver and hence suppresser of its price.  As we’ve reported previously on their (reducing) short and (increasing) long positions in futures, they are also clearly very bullish on price rises through the ETF vehicle also.