There were reports out today that JP Morgan has now admitted to having their massive naked short position in silver and is taking steps to reduce it.

今天外界有报道称JP摩根已经坦白承认拥有大量的白银的裸卖空并且将逐步降低。

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NIA estimates that over the past 30 days, JP Morgan has covered approximately 4,000 silver contracts, which has corresponded with about a $4 per ounce upward move in the price of silver.

NIA估计在过去的30天里，JP摩根已经平仓了大约4000份白银合约，这些合约将使白银的价格上涨4美元每盎司。

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"I think the silver lining is, we're in the trough of the decline," said Michael Pachter, an analyst at Wedbush Morgan.

“我认为现在的希望是，我们在下降的底部，”Wedbush morgan的分析师Michael Pachter表示。

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David Morgan, independent precious-metals analyst with Silver-Investor.com, also cited typical buying by dealers at the start of each year.

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When such crises occur, gold tends to be the most sought-after metal for a safe haven, said David Morgan, independent precious-metals analyst with Silver-Investor.com.

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David Morgan, independent precious-metals analyst with Silver-Investor.com, also endorsed the concept.

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