JPMorgan Chase & Co. reduced a large position in the U.S. silver futures market, the Financial Times said, citing an unidentified person familiar with the matter.
The decision was made to try to deflect public criticism of its dealings in silver, the FT said. The bank’s silver positions would from now on be “materially smaller” than in the past, according to the paper. Two calls and an e-mail to Jennifer Zuccarelli, a New York-based spokeswoman at JPMorgan, were not immediately answered outside of office hours.
Continued on Bloomberg
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