In Ted Butler's Archive


I can’t know for sure if now is the start of the big move in silver, but it could be. All the conditions are present for the big lift-off. We have a strongly bullish COT market structure. Then we have an 800-pound gorilla sitting smack dab in the middle of the room and beating his chest so that it rattles the windows. Of course, I’m speaking of JPMorgan’s unprecedented and historic accumulation of physical silver.

My premise that JPMorgan has acquired upwards of 350 million ounces of physical silver (including Silver Eagles) over the past 4 years has garnered some recent attention. I’ve been writing about JPMorgan and silver for a long time and, quite frankly, I am somewhat surprised the story hasn’t been picked up sooner. I must say, it is hard for me to envision conditions better than those in place currently for silver to suddenly rip higher.

For subscription info please go to

Start typing and press Enter to search