JP Morgan's Silver Competition

Written By Christian DeHaemer

Posted May 10, 2016

JP Morgan has controlled the silver market for years, stockpiling it and increasing their silver holdings by 16.3 Moz (million ounces) per year. They’ve always been on top, and even with a recent fall in their reserves, from 74 Moz to 69.4, it seemed impossible that anyone could top them.

Right now silver is undervalued, selling at under $18 per ounce, but with the dollar in decline, many see this price likely to rise, as anytime the dollar falls and inflation shoots up, the value of precious metals rises quickly. Companies have begun to notice that this is a prime time to get into the silver market, but one company has leaped into it feet first.

Buying Up Silver

The Shanghai Futures Exchange held a modest amount of 7.5 million ounces of silver in August of last year.

As of April of this year they’d increased their stockpile by 54.7 Moz.

silver JP Morgan

The Shanghai Futures Exchange have been increasing their holdings by 7 Moz per month. Tripling their inventories since November of 2015.

This is a huge amount of silver to be buying up every month, showing that the Shanghai Future Exchange is not willing to be a by-stander when it comes to silver anymore.

If the Shanghai Future Exchange’s inventory of silver continues to rise, they’ll surpass the amount of silver that JP Morgan has in their warehouses in a matter of weeks.

The Shanghai Future Exchange agrees that silver is making a comeback, and they’re going after it.

It will be interesting to see what happens in the coming weeks when JP Morgan is beaten at their own game.

To read more about this, the ZeroHedge article can be found here.

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Christian DeHaemer

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Christian is the founder of Bull and Bust Report and an editor at Energy and Capital. For more on Christian, see his editor’s page.

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