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Alasdair Macleod: A whale is accumulating silver futures, probably China acting through JPM
3:09p ET Thursday, July 11, 2019
Dear Friend of GATA and Gold:
GoldMoney research director Alasdair Macleod, analyzing the futures market positioning of large traders and hearing from silver miners about how they sell their product, concludes today that a "whale" has been loose in the silver market, first suppressing prices to facilitate accumulation of metal, more recently hedging itself in preparation for higher prices. Macleod believes that the "whale" is the People's Bank of China and that JPMorganChase is acting as its broker.
Macleod's analysis is headlined "A Whale Is Accumulating Silver Futures" and it's posted at GoldMoney here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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