JPM
JPMorgan Chase & Co.
stock NYSE

I never knew it was owned by JPM.
What do you mean?

The "worst" case scenario is that JPM and COMEX keep manipulating the price, and/or declare force majeure. This would mean a permanent discrepancy between the price in the east and the west.

ETH is owned by JPM. They manipulate everything else, what makes you think they won't manipulate their crypto baby?

They did. JPM bought loads of silver at $76. That’s the floor

The extraordinary price action in metals on Friday was plastered with comments from ex JPM global head Marko Kolanovic warning of massive correction in Silver prices due this year. Interestingly his latest post on X intraday Jan 30 when the price action was unfolding was about SLV rebounding. Peter Schiff sounded similar note at close of trading on Friday.
The price action esp for Silver was truly extraordinary. One for the record books however I don’t think the doom and gloom end of the world posts all over the web actually capture the underlying structural shifts that have been in play in the precious metals market over the last year.
1 - physical demand story for Silver is still intact. The AI buildout, industrial demand for solar, electronics is still there. The biggest global silver miner Fresnillo has actually cut its 2026 production guidance. Even on friday the physical silver premium in shanghai was over $20. 2026 like its predecessor years will be marred by shortfall in silver supply unable to match the demand forecasts.
2 - another major trigger for Friday’s price action was obviously announcement of Kevin Warsh as fed pick. Markets have immediately perceived him as an interest rate hawk on balance based on his previous positioning. I think we are underestimating trump’s push for lower interest rates and the extent he went to pressure powell in aligning to his agendas. Its unthinkable that Trump wouldn’t have covered base with Kevin Warsh on what is expected of the next fed chair.
3 - yet another technical trigger for Friday’s price action was change in margin rules by CME on silver and gold contracts. I think this was the primary reason more than any other for the violent unwinding of the leverage trade in precious metals.
Precious metals may not reclaim the ATHs anytime soon but I don’t think the story is over. I think the debasement trade, multi polar world order leading to uncertain geopolitical setup( potential iran attack, trumps impulsive trade wars) are still in play and will be for quite some time which in turn will keep SLV and GLD up and center.

The extraordinary price action in metals on Friday was plastered with comments from ex JPM global head Marko Kolanovic warning of massive correction in Silver prices due this year. Interestingly his latest post on X intraday Jan 30 when the price action was unfolding was about SLV rebounding. Another bear Peter Schiff sounded similar note at close of trading on Friday.
The price action esp for Silver was truly extraordinary. One for the record books however I don’t think the doom and gloom end of the world posts all over the web actually capture the underlying structural shifts that have been in play in the precious metals market over the last year.
1 - physical demand story for Silver is still intact. The AI buildout, industrial demand for solar, electronics is still there. The biggest global silver miner Fresnillo has actually cut its 2026 production guidance. Even on friday the physical silver premium in shanghai was over $20. 2026 like its predecessor years will be marred by shortfall in silver supply unable to match the demand forecasts.
2 - another major trigger for Friday’s price action was obviously announcement of Kevin Warsh as fed pick. Markets have immediately perceived him as an interest rate hawk on balance based on his previous positioning. I think we are underestimating trump’s push for lower interest rates and the extent he went to pressure powell in aligning to his agendas. Its unthinkable that Trump wouldn’t have covered base with Kevin Warsh on what is expected of the next fed chair.
3 - yet another technical trigger for Friday’s price action was change in margin rules by CME on silver and gold contracts. I think this was the primary reason more than any other for the violent unwinding of the leverage trade in precious metals.
Precious metals may not reclaim the ATHs anytime soon but I think the debasement trade, multi polar world order leading to uncertain geopolitic setup( potential iran attack, trumps impulsive trade wars) are still in play and will be for quite some time.

The extraordinary price action in metals on Friday was plastered with predictions from ex JPM global head Marko Kolanovic warning of 50% drop in Silver prices by end of the year. Interestingly his latest post on X intraday Jan 30 when the price action was unfolding was about SLV rebounding from when it was 16% down. Another bear Peter Schiff sounded similar note at close of trading on Friday.
The price action esp for Silver was truly extraordinary. One for the record books however I don’t think the doom and gloom end of the world posts all over the web actually capture the underlying structural shifts that have been in play in the precious metals market over the last year.
1 - physical demand story for Silver is still intact. The AI buildout, industrial demand for solar, electronics is still there. The biggest global silver miner Fresnillo has actually cut its 2026 production guidance. Even on friday the physical silver premium in shanghai was over $20. 2026 like its predecessor years will be marred by shortfall in silver supply unable to match the demand forecasts.
2 - another major trigger for Friday’s price action was obviously announcement of Kevin Warsh as fed pick. Markets have immediately perceived him as an interest rate hawk on balance based on his previous positioning. I think we are underestimating trump’s push for lower interest rates and the extent he went to pressure powell in aligning to his agendas. Its unthinkable that Trump wouldn’t have covered base with Kevin Warsh on what is expected of the next fed chair.
3 - yet another technical trigger for Friday’s price action was change in margin rules by CME on silver and gold contracts. I think this was the primary reason more than any other for the violent unwinding of the leverage trade in precious metals.
Precious metals may not reclaim the ATHs anytime soon but I think the debasement trade, multi polar world order leading to uncertain geopolitic setup( potential iran attack, trumps impulsive trade wars) are still in play and will be for quite some time.

TA > FA. Stocks that are breaking out from bases at least 1Y long. $XLE and related energy stocks look good. As do banks like $JPM and $BAC. I prefer emerging markets though like $EEM, $VALE and $CIB, as well as $BABA. I'm intentionally underinvested in U.S. equities. Commodities also look good, from nickel to lithium to copper to gold and silver to rare earth minerals.

JPM shorted it

Saw the news about JPM buying 3.1M oz of silver, followed by El Salvador buying $50M of gold after markets closed yesterday, so I decided to buy some extra today for a little fun before hitting the rivers and creeks.

JPM tested the waters a month ago at $70s level. They make money on the way up and back down. Selling their paper shares at highs with 633 shorts hitting stop losses (probably their own) on the way down. Then make money again on the way back up. Is that genius or evil genius?
Is this Unlawful Market Manipulation?

lol JPM isn’t short silver.

I found that looking back at the predictions and what actually happened to the price of gold, the institutions like JPM correctly do predict the direction it goes, but underestimate the scale. So if this holds true (which who knows if it will or will not) then JPM's prediction of $8k will be an underestimate and it could be at $10k or $12k.

that small short covering i think it was like 60 contracts? thats not even a rounding error for JPM just fyi. maybe it would be like you playing farmville or something?

Read the explanation for the current price of silver. Does it sound reasonable?
Banks are currently facing an acute problem usually only experienced by airlines, and it's on a scale that threatens the system.
An airline sells 200 tickets for a flight to Mallorca. However, the planned aircraft only has a capacity of 190 passengers.
This isn't a problem as long as the usual 5-10% of booked tickets go unused due to illness, etc.
But if everyone actually shows up for the flight, it's overbooked. The airline then has to offer the now-familiar bonuses to passengers who opt for a later flight.
The costs are relatively predictable since someone is always willing to wait for a small amount of money.
The banks' problem, however, is much bigger.
At the end of March, 17 times more silver was sold than could be delivered.
The total amount of paper silver is constantly increasing because hardly anyone wanted it delivered, and because more was produced than consumed, it wasn't a problem to sell 100 times more on paper, since pickups were being voluntarily postponed anyway.
Some of the silver goes to industry, and absolutely no one in the tech/manufacturing/AI sector will settle for a cash settlement and waste time.
The banks therefore have to buy at any price or borrow the silver.
Only JPM has sufficient liquid silver of this magnitude. However, JPM only lends its silver and charges exorbitant interest rates that can only be paid in silver itself, thus exacerbating the problem and shifting it in JPM's favor.
On Thursday, a few banks did it again. Within five minutes, they sold the entire annual silver production for the end of March.
This "sale" liquidated all your long positions.
They know that most private investors won't return after such a day, so this actually relieves some of the pressure. At the expense of the banks.
This profit for the banks will only be a small band-aid for the coming weeks when they are forced to close their positions.
A short position is closed by executing a purchase, which essentially automatically drives the price up.
It will take years to reduce this short position without driving the price into inflated levels. However, there's no other option as long as central banks or JPM don't sacrifice their silver reserves.
From now on, banks face a choice at every trading session: Do I push the price up by closing at a high price, or do I postpone the problem and borrow, making it worse?
So, currently, the only way forward is up.
Silver isn't theoretically worth 200$ per ounce, but that's possible in the next two to three months.

No they did not, the CME delivery notice floating around is just showing JPM was a clearing house. Read the document properly just because you see buy on one side doesn’t mean they are buying it all lol

Banks are currently facing an acute problem usually only experienced by airlines, and it's on a scale that threatens the system.
An airline sells 200 tickets for a flight to Mallorca. However, the planned aircraft only has a capacity of 190 passengers.
This isn't a problem as long as the usual 5-10% of booked tickets go unused due to illness, etc.
But if everyone actually shows up for the flight, it's overbooked. The airline then has to offer the now-familiar bonuses to passengers who opt for a later flight.
The costs are relatively predictable since someone is always willing to wait for a small amount of money.
The banks' problem, however, is much bigger.
At the end of March, 17 times more silver was sold than could be delivered.
The total amount of paper silver is constantly increasing because hardly anyone wanted it delivered, and because more was produced than consumed, it wasn't a problem to sell 100 times more on paper, since pickups were being voluntarily postponed anyway.
Some of the silver goes to industry, and absolutely no one in the tech/manufacturing/AI sector will settle for a cash settlement and waste time.
The banks therefore have to buy at any price or borrow the silver.
Only JPM has sufficient liquid silver of this magnitude. However, JPM only lends its silver and charges exorbitant interest rates that can only be paid in silver itself, thus exacerbating the problem and shifting it in JPM's favor.
On Thursday, a few banks did it again. Within five minutes, they sold the entire annual silver production for the end of March.
This "sale" liquidated all your long positions.
They know that most private investors won't return after such a day, so this actually relieves some of the pressure. At the expense of the banks.
This profit for the banks will only be a small band-aid for the coming weeks when they are forced to close their positions.
A short position is closed by executing a purchase, which essentially automatically drives the price up.
It will take years to reduce this short position without driving the price into inflated levels. However, there's no other option as long as central banks or JPM don't sacrifice their silver reserves.
From now on, banks face a choice at every trading session: Do I push the price up by closing at a high price, or do I postpone the problem and borrow, making it worse?
So, currently, the only way forward is up.
Silver isn't theoretically worth €200 per ounce, but that's possible in the next two to three months.
TL;DR: Go silver long, you monkeys!

There had to be more than just 2 individuals involved in the scheme. Was JPM fined for this?

The bottom will be whatever JPM decided with its trillion dollar chest.
RemindMe! 2 days

Some funds are only offered to clients of the company managing the fund, i.e. private funds in lieu of publicly traded funds. That might be one reason. Another reason may be due to some conflict of interest with JPM and LPL. The best way to know is to ask your LPL advisor directly.