JP Morgan and Silver - Really now CopperIt's not entirely unheard of for a single investor to get his hands on such a large pile of warrants for physical copper stocks but it is causing jitters in a feverish commodity market. Oil is hovering around $90 per barrel, gold is at an all-time high and silver has been added to the pack of metals deemed to be good homes for nervous money. The silver price jumped above $30 per troy ounce on Monday and rose again on Tuesday as investors searched for new bolt holes from what they see as the corrupt world of fiat money. The precious metals, such as gold, silver and platinum have always been seen as safe havens but in these uncertain times there isn't enough gold to calm everyone's money neurosis and now the funds have hit upon copper.
scary for copper they already did it to silver is this next
Several banks and funds, including JP Morgan and BlackRock Asset Manangement have signalled that they plan to create exchange-traded products in physical copper. Like the gold exchange-traded products, investors will be able to buy an amount of real metal, held on their behalf in warehouses, rather than copper futures and it is the need to acquire the physical product that has roused suspicion that it is a financial institution hoarding physical metal in preparation for the launch of its ETP.