Obviously there are a few in plain sight, who are quite vocal but for the most part my understanding is that silver remains a non investment for most hedge funds / asset managers. Do you think they're privy to knowledge we don't have? Are some banks quietly stockpiling silver while continuing to manipulate prices down (it does make sense)? I don't believe that silver can be a consumer-only market. We can't be the only people who realize silver's value. This has been intriguing me.
my totally uninformed guess would be that it's easier to make more money in the long term by suppressing a market - let it run up, short it, smash it down, etc. Going long you only go up and it gets to a point where it's not as profitable as more and more people climb on board.
Over here one pension fund was in precious metals (paper ones), but then the Dutch government told them to deminish their % in paper pm's. I believe the explenation was that pm's were to volitile to what a pension should resemble (security), not sure though.
Unless a major bank is dealing in millions of ounces of silver it would not be worth their time and effort. Certainly physical silver, but a couple of US banks have tried the 'shorting' trick and come unstuck. Physical gold, yes of course, but not silver. OC