I can’t understand who is this doing this, or their motivation.
As far as I know, global central banks do not accumulate silver as reserves, as they do with gold.
One can imagine a large national bank, or Federal Reserve primary dealer playing in the gold paper market, with tacit backing of central bank and its physical bullion
But if large banks are suppressing silver price with futures, who are they doing it for? And who will cover their massive losses from shorting the market?
Especially given 5 consecutive years of mined supply deficits, wouldn’t they have have more profit potential by playing the long side?
wouldn’t they have have more profit potential by playing the long side?
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Exactly, JP Morgan has accrued tons of physical silver. The large bullion banks (8) have been shorting silver for decades, making money…..when their downside manipulation is no longer sustainable, ( now?) many familiar in the field believe they will then switch to going long…..again making tens of billions.
Regardless, something big is happening.
From AI:
“JPMorgan holds the world’s largest stockpile of physical silver, with over 750 million ounces accumulated. Recently, they have been actively increasing their holdings, adding more than 21 million ounces in a short period.”