In a recent interview with Liberty and Finance, the esteemed precious metals analyst David Morgan, widely known as the "Silver Guru," delivered a compelling analysis suggesting that silver prices are on the cusp of a significant surge. Drawing upon his extensive knowledge of the precious metals market, Morgan highlighted the current lack of substantial upside resistance for silver, hinting at a potential rapid upward movement that has yet to materialize fully.
Addressing the current silver price levels, Morgan offered a striking technical assessment. "No, on a technical basis, we're free," he asserted. "I mean, we're high enough in the silver price for it to have very little upside resistance and to be able to just move, move, and move some more, and it hasn't started yet."
This bold statement underscores Morgan's belief that the path of least resistance for silver is firmly upward. He suggests that the $34 mark, while a psychological barrier for some, represents a level where significant historical selling pressure is absent. This lack of overhead resistance could allow silver to experience a swift and substantial price appreciation once momentum truly takes hold.
Retail Investors Yet to Awaken to Silver's Potential
Despite his optimistic technical outlook, Morgan acknowledged the current subdued interest from retail investors in the silver market. "Very little on the retail side," he observed, noting that many individuals who participated in the previous silver squeeze might be sitting on the sidelines or even taking profits.
"They either think that you know $34 silver is too expensive or they bought it at 25 with a high premium... and now they're seeing, well okay, I got a you know $4 profit. You know, I don't think it's going any higher," Morgan speculated on the mindset of some retail participants.
However, he emphasized the unusual dynamic of strong precious metals prices, particularly gold, driven by institutional buying, including central banks, without significant retail involvement. Morgan anticipates that this will eventually change. "I think we will see a re-entry into the markets, the precious metals markets, via the retail side," he predicted, suggesting that potential losses in the stock market or the continued ascent of gold could trigger renewed interest in silver.
Silver Squeeze 2.0: A Damp Squib or a Catalyst?
The interview also touched upon the online discussions surrounding "Silver Squeeze 2.0." While the first silver squeeze garnered significant attention and briefly impacted the market, Morgan expressed skepticism about the potential for a similar outcome this time. "This time, my take, Monday will tell. I don't think there's going to be much to it," he stated cautiously.
Despite his tempered expectations for this particular event, Morgan's broader thesis remains that silver is fundamentally poised for a significant move. He highlighted the ongoing physical demand and the potential for a supply squeeze, particularly given consecutive years of silver deficits.
Beyond the technical picture, Morgan also discussed the broader economic and geopolitical landscape, which he believes provides a supportive backdrop for precious metals, including silver. He voiced concerns about potential stagflation, the negative impacts of tariffs on consumers, and escalating geopolitical tensions.
"Gold hates uncertainty, and the more the world's becoming more uncertain as we speak, so it'll continue to rise. It should definitely," Morgan commented on the impact of global instability on precious metals. While his direct focus was on gold in this statement, the sentiment underscores the traditional safe-haven appeal of both gold and silver during times of economic and political turmoil.
David Morgan's recent interview on Liberty and Finance offers a compelling case for a potentially imminent surge in silver prices. His analysis points to a favorable technical setup with minimal upside resistance, suggesting that once buying momentum returns, silver could experience rapid gains.
While retail investors have yet to fully embrace the current price levels, Morgan believes that broader market dynamics and the inherent appeal of silver as a monetary and industrial metal will eventually draw them back in, potentially fueling the "move, move, and move some more", he anticipates. Investors in the precious metals space will undoubtedly be watching closely to see if Morgan's bullish silver outlook comes to fruition.
Watch the full interview:
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