Video News/In Focus with Jeremy Szafron

David Morgan, Founder of The Morgan Report and author of The Silver Manifesto, says investors should focus on market structure rather than claims of an imminent COMEX silver default. Speaking with Kitco News anchor Jeremy Szafron, Morgan said the default narrative is not supported by inventory data from recent years, even as tightness remains visible in commercial bar markets. Morgan said excess supply among wholesale retail dealers can coexist with broader structural strength, especially as investors sell into higher prices while industrial and institutional demand continues to build. He compared silver’s current setup with past psychological price barriers, arguing that resistance near $100 could resemble the pause silver saw around $50 before its next move higher. Morgan also discussed Hong Kong’s planned gold clearing system, solar demand, energy costs for miners, and the bond market signal he is watching most closely before year-end.