Where are the silver shorts?

Richard Russell - The 60-Year Shocker, Silver Shorts & Gold
Now this may be “far out.” I'm reading a lot about silver and its huge short position. I hear that the silver shorts are bigger than the amount of physical silver that is readily available. The silver mining stocks have already surged. And I wonder if silver starts to boom, whether that action wouldn't rub off on gold? Hmmm, it's a thought.”

I'm not an expert on the silver market and I've also heard of the physical short position. But it's clear from the COTS report that specualtors have already used the paper market to take long positions in the metal.


  1. Generally when talking about large short positions in Silver it is referencing the COMEX. The Commercial Banks (e.g. JP Morgan, HSBC, etc) are net short Silver when you take into account their short positions are larger than long. See a COT report here for the details: http://news.goldseek.com/COT/1357331556.php

  2. Thanks for the comment. Some people reference that, and others talk about the physical position. I was able to find the link: Sprott: Shorts May Need To Deliver 40 Million Ounces Of Silver

    The audio interview is here.

    The physical short is the more interesting one to me, but I haven't seen a lot about it aside from Sprott's comments.