Morgan not building shorts in silver, Butler tells King World News


11:10a ET Saturday, March 13, 2010

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler tells Eric King of King World News that while the commercial shorts in the silver futures market have increased, the likely JPMorgan Chase short position has not increased substantially. Butler also reports that that much metal just moved out of the silver exchange-traded fund, SLV, which he considers bullish, an indication of tightness in the silver market. Commercial traders are now long the euro and short the dollar, Butler says. Butler also continues to be encouraged by the chairman of the U.S. Commodity Futures Trading Commission, Gary Gensler, in regard to ridding the futures markets of excessive concentration and the resulting manipulation. The interview is about eight minutes long and you can find it at the King World News Internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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