Can someone clarify what Jp Morgan is up to with their metal warehousing exit and their trading paper silver ? Were they a holder in physical silver and gold ? I dont think they are getting out of the paper trading.
IMO, the short answer is, they see the writing on the wall.
Up until now, the price of physical gold and silver was controlled and still is in NY. Their warehousing in London, NY were profit centers.
WHen they no longer control the price, why try to manipulate when you're on the weaker side of the trade?
That price control is slowly being transferred to the East. The largest buyers are China and India and THEY,meaning China are gaining the upper hand.