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JP Morgan To Deliver 30 Million Ounces Of Silver For July COMEX Contract

Monday, July 6, 2020 16:53

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Especially after seeing historic deliveries in gold during the June delivery cycle, I’ve been waiting to see what would happen on the first day of the COMEX silver July delivery period.

In this case, the data did not disappoint. As the CME reports how 55 million ounces of silver were posted for delivery on the first day. And perhaps even more significantly, that after accumulating 160 million ounces of silver over the past 9 years (which began immediately after the price crashed at the end of April 2011), JP Morgan is set to lose 30 million ounces after just the first day of the July delivery cycle.

It’s one of the bigger developments in recent years, and to find out more, click to watch the video now!

Chris Marcus

Arcadia Economics

July 6, 2020

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