Video News/In Focus with Jeremy Szafron

Josh Phair, CEO of Scottsdale Mint and the Wyoming Reserve, says physical precious metals flows are diverging sharply from paper-market price action. Speaking with Kitco News Senior Anchor Jeremy Szafron, Phair said silver is actively leaving the United States for overseas markets even as domestic supply remains available, with LBMA good delivery premiums rising as global buyers compete for physical metal. Phair discussed growing interest in bullion from corporations, state-level entities, and private investors as physical assets move further outside traditional financial channels. He said a $50 billion Wyoming fund is evaluating gold in a manner similar to sovereign reserve management, while Texas is preparing to release state-branded gold coins. Phair also addressed the SILVER Act, vaulting decisions, delivery bottlenecks, and why he believes the decentralization of hard assets is part of a broader reset moving toward 2030