Last Saturday at SilverFest III, David Morgan joined us to give his year in review of everything that happened in the silver market in 2022.
It was certainly a volatile year in terms of the COMEX spot price, which was well over $26 in March when Russia invaded Ukraine, but dropped below $18 per ounce as a result of paper market selling as the Federal Reserve began its rate hiking policy.
Yet in his review of the year, David talked about the relentless retail buying in the physical silver market, and how that still has yet to be reflected in the COMEX price.
He also talked about how unless Fed funds rates are taken higher than the inflation rate, that rate hikes don't bring down the silver price in the long-term. A phenomenon that was witnessed in 1979-1980, when rates were rising while both gold and silver still soared.
David answered questions from some of this year's SilverFest participants, and shared what he sees coming next in the silver market
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