Andy Schectman argues silver is still early in a powerful bull move, with war, supply deficits, and delivery stress all reinforcing the case for much higher prices. He is also bullish on gold’s remonetization, wary of gold-backed stablecoins as a CBDC-like bridge, and pessimistic on the US economy and politics if war-driven inflation persists.
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This episode is a long-form interview between Jesse Day and Andy Schectman centered on silver, gold, war risk, monetary trust, and digital money. Schectman says the market often reacts incorrectly at first to war, citing prior conflicts where metals were sold first before rising later, and he argues that the war with Iran could become a major catalyst for gold and silver if it expands. He repeatedly emphasizes physical delivery data in silver, claiming that large and persistent COMEX delivery demand, plus metal leaving the exchange, shows informed participants are positioning for a much higher price regime. …
Tactically, the setup stays bullish for gold and especially silver as long as war risk, physical demand, and delivery stress remain elevated. Any near-term dip is framed as a buyable shakeout unless the conflict de-escalates sharply.
Over the next few months, the path of least resistance is higher if inflation, conflict, and tight physical markets persist. The view would weaken only if delivery pressure fades and the war premium fully unwinds without a new demand driver.
The structural thesis is that fiat reserve trust is eroding and hard assets are regaining monetary status. If that regime shift continues, gold and silver matter less as trades and more as monetary insurance in a more fragmented and inflation-prone world.
The market often gets the first move wrong when war breaks out, and metals can initially sell off before rising later.
Schectman says this has happened in prior wars and that the first move is often a price-management move.
If the Iran war expands, it could become a major catalyst for gold and silver because it increases uncertainty, loss of confidence, inflation, and debt.
He explicitly lists the macro factors metals benefit from.
Persistent COMEX silver deliveries and outflows show that informed traders understand silver is heading much higher.
He cites 16 months of heavy deliveries and metal leaving the exchange as evidence of advanced positioning.
How do you anticipate this conflict in the Middle East affecting precious metals prices?
Schectman says war usually leads to an initial selloff and later catalyst for metals; if the conflict expands, gold and silver should benefit from uncertainty, inflation, debt, and loss of confidence.
Do you think this is all by design?
He argues the repeated exchange glitches and negative media framing are not random and that mainstream outlets have ignored the biggest silver story: persistent delivery demand and metal leaving COMEX.
How much do you think this industrial and military need for silver could affect the demand side here and what will that do to prices?
He says silver demand from defense and industry is non-optional, sticky, and strategic, so a structural supply deficit should ultimately force higher prices, likely in an explosive move rather than an orderly one.
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