from TF Metals Report:
Last month, we asked why JPM was hoarding silver. Now, with August gold deliveries just underway, is it time to ask why they are hoarding gold, too?
The silver hoarding question was asked on July 11. At that time, JPM had absorbed nearly 90% of the July Comex silver deliveries, primarily for their own or “house” account. That trend did, in fact, continue through the entire delivery month and when the totals were finally tabulated, JPM had stopped 3,040 of the 3,444 deliveries for July. That’s 88.27% of the total! It gets even better. Of the 3,040 that JPM took down, 2,824 went into their own house account. That’s 12,140,000 ounces of silver (377+ mts) and 82% of all Comex silver deliveries for July. To JPM. Into their own house account.
The full post from July 11 is here: http://www.tfmetalsreport.com/blog/4830/why-jpm-hoarding-silver
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