The banks have still not heavy reduced their short positions, they are still holding them, but at about a $300 Million loss per $1 rise in silver price.
574 Silver Contracts (each 5,000 oz) posted for delivery in November.
This shows the details of how much is left at the exchange ware houses
From now on I'll divide all of these into the four different categories
1. Regulatory Changes (Manipulation, Law Enforcement, Law Suits etc)
2. Investment Demand (Paper Vs Physical, Global Precious Metals ETF etc)
3. Industrial Demand
4. The Future
1. Regulatory Change
JP Morgan and HSBC Face RICO Charges in Silver Futures Class Action Lawsuit Banks alleged to have used naked short-selling to rig market NEW YORK, Nov. 3, 2010 /PRNewswire/ -- JP Morgan Chase & Co. (NYSE: JPM) and HSBC Securities Inc. (NYSE: HBC) face charges of manipulating the market for silver futures and options in violation of federal commodities and racketeering laws, according to a new lawsuit filed Tuesday in the U.S. District Court for the Southern District of New York. http://www.prnewswire.com/news-releases/hagens-berman-sobol-shapiro-jp-morgan-and-hsbc-face-rico-charges-in-silver-futures-class-action-lawsuit-106624128.htmlKaplan Fox Sues JP Morgan and HSBC on Behalf of Investors
for Silver Futures and Options Contract Losses Caused by Market Manipulation
NEW YORK -- On November 2, 2010, Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com), a leading plaintiffs' firm, filed a class-action complaint in the U.S. District Court for the Southern District of New York on behalf of an individual investor against JP Morgan Chase and HSBC in connection with their alleged conspiracy and manipulation of the market for silver futures and options contracts traded on COMEX. http://www.marketwire.com/press-release/Kaplan-Fox-Sues-JP-Morgan-HSBC-on-Behalf-Investors-Silver-Futures-Options-Contract-Losses-1347390.htm