JPM, the most important player in the silver market put out their forecast for silver next year (gold closed at $1265 and silver at $16.12 today) 2018 Prices will average:
1Q $16.32
2Q $16.80
3Q $18.73
4Q $19.57
They recommend buying silver around $15.91 and gold around $1241. Obvously, if you look at today's close, we are only 1.5% from JPM's recommended buy silver target.
From what I understand, the three largest players in the futures market, JMP, BNS, and GS all have large silver short positions. It would seem, but the above forecast, that at least JPM will be covering their positoin over the next six months.
I would think that JPM believes silver and gold will breech their buy targets....maybe to $15.50 and something under $1200. If that occurs I would buy a bunch.
On the other hand, who the f knows.
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