Except for palladium, only a small handful of the world's banks still have meaningful short positions in the other three precious metals -- and judging from August deliveries, a lot of their clients are the ones on the short hook.
JPMorgan is out of its short positions in both silver and gold -- and may be in platinum and palladium as well, but there's no way to know that.
The precious metals are certainly set up for a rocket ride higher when JPMorgan allows it -- and we're already off the launch pad. But when things get really serious to the upside, it will be very much to the detriment of those Big 8 shorts in particular -- and the rest of the shorts in general, as their short covering will be the rocket fuel that drives precious metal prices to the moon, particularly silver.
I have a decent number of stories, articles and videos for you today. And included in the list are a couple that I've been saving for today's column for length and/or content reasons.
https://goldseek.com/article/big-8-are-still-mega-short-silver-and-gold
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Ed Steer’s Daily Analysis of the Gold and Silver Markets
After eight years of writing about the precious metals for Casey Research, the folks at Stansberry & Associates—who just recently purchased controlling interest in the company—decided that my ‘niche market’ column didn’t fit into their plans.
Since the time that Casey Research was kind enough to offer me a stand-alone column, it became their most highly-rated blog almost from the outset—and has remained that way up to this date...