My suspicion is that the ‘fine’ paid by J P Morgan was a publicity stunt. Their ongoing manipulation of the market must ultimately be sanctioned covertly by the US government, otherwise it would be brought to an end.
History suggests that the manipulation of the price of precious metals will continue until the futures market is overwhelmed by requests for physical delivery.
SVL Price at posting:
22.8¢ Sentiment: None Disclosure: Held
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