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Mancini Associates – Silver Continues To Surf…

Todays Date: December 16, 2018

Mancini Associates: How much does the rise in the price of silver owe to JP Morgan and HSBC?

Mancini Associates analysts believe that the accelerated pace of the rise in silver prices is almost certainly attributable to the lawsuit currently being brought against two of the largest so-called bullion banks, JP Morgan Chase and HSBC.

Both banks are accused of allegedly manipulating the market for silver by routinely selling short contracts into the futures market in order to suppress the price.

A “Mancini Associates” trader said, “This has been going on since 2008 and huge sums of money have been made and lost. There’s been much conjecture on manipulation of the silver and gold markets in the past but, in this instance, the issue has made it into the mainstream media resulting in a hardly-coincidental increase in the amount of short covering in the silver market”.

The silver spot price has reached 30-year highs in recent days and, at one point, set an intraday record over $29 per ounce. Silver has gained some 80% since the 2010 low set in February and “Mancini Associates” believes that if JPMC and HSBC are found guilty, the price could soar triggering a huge short covering rally.

The “Mancini Associates” trader noted that if even a tiny percentage of investors holding contracts on the silver futures market held out for physical delivery, the market would not be able to honor its contracts and both JPMC and HSBC could face multi-billion dollar liabilities.

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