Silver Bull Run Continues

JPMorgan is strategically withholding U.S. silver stockpiles to force China into bidding up prices, amid escalating "metal wars" where physical demand outstrips supply by over 200 million ounces annually per Silver Institute data.
China's January 1, 2026, reclassification of silver as a strategic resource limited exports to 44 licensed firms, halving global refined supply and sparking a 15% futures surge to $90+ per ounce, with physical premiums reaching 80% over spot in Asia as reported by BullionStar.
JPMorgan's shift from 200 million-ounce shorts to a 750-million-ounce long position—equivalent to a year's global mine output—positions it to profit billions per dollar price rise, aligning with U.S. efforts to secure Latin American resources and counter China's industrial needs.

Posted Jan 16, 2026, 8:13 AM UTC