I don't think JP Morgan is as desperate as one might think to cover the silver short. They could just go long Silver and unwind their short. Settle the physical demand in cash X percent above the market price which will drop gains to their long position.

If JP Covers their short and goes long from $35 to $50+ it will be like they never even had a short before.

Maybe JP is being engineered to fail by the Chinese as their was some information that the short position in Silver was for a Chinese client.

Financial warfare ? everything is not always as it seems. But for sure todays market action in silver has something to do with JPM. How will the escape the public spot light on this one ..?