In this episode, Kerry Lutz sits down with precious metals authority David Morgan of The Morgan Report to dissect the recent, dramatic sell-off in gold and silver. After silver hit a massive high of $120 earlier this year, it saw a violent 50% retracement. David explains the mechanics of this “liquidation phase,” the role of the futures market, and why he believes a massive supply-demand squeeze is still on the horizon.
Key Discussion Points:
The “Violent Liquidation” Phase: Why silver plummeted from $120 to the $60-$70 range and why this is a natural market correction after a 140% run in 2025.
The Dollar vs. Metals: How the “higher for longer” interest rate environment briefly repositioned gold and silver as rate-sensitive assets rather than crisis hedges.
Physical Supply Reality: David breaks down why the “60 billion ounces mined” statistic is misleading, noting that half of all silver ever mined is lost in landfills or industrial waste.
The Mexico Factor: A look at the geopolitical risks in Mexico, the world’s largest silver producer, including the influence of cartels and the potential for nationalization.
Future Outlook: David predicts a period of consolidation followed by a push toward $100 silver and potentially $6,000–$7,000 gold.
Emerging Demand: Beyond solar and EVs, David highlights robotics and high-density silver batteries as the next major industrial drivers for the metal.
