Craig Hemke for Sprott Money sits down with David Morgan of The Morgan Report to break down the recent silver price volatility, the shocking $8 intraday drop, and whether triple digit silver is still ahead. Is this correction different from Silver Thursday in 1980? Is Shanghai now leading the market instead of COMEX? This is essential listening for anyone looking to buy gold, buy silver, or understand where thesilver price and gold priceare headed next.

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SILVER MARKET VOLATILITY AND WHY INVESTORS WANT TO BUY SILVER NOWAs the midpoint of February arrives, Craig Hemke of Sprott Money welcomes David Morgan of The Morgan Report to break down one of the most volatile periods the silver market has experienced in years. The discussion centers on dramatic price swings, physical demand, derivatives pressure, and what it all means for investors looking to buy silver or even buy gold as part of a broader precious metals strategy.Morgan immediately places the recent sell-off into historical context. Many investors have described it as the worst in silver’s history, but Morgan corrects that perception by referencing “Silver Thursday” in March 1980, when silver plummeted from $20.61 to $10.27 in a single day—a staggering 50% drop. Compared to that, the recent 30%+ correction, while “hair raising,” is not unprecedented. He explains that sharp corrections are a natural feature of the futures market, especially after silver surged 140% in a year. “Nothing goes up that fast without having some kind of a correction,” Morgan says, emphasizing that while the recent collapse shocked newer investors, seasoned traders understand such volatility is part of the cycle. Despite short-term turbulence, he remains firm in his long-term outlook, stating, “I think we are going to triple digit silver again, but I don’t think it’s a week from tomorrow.”For investors tracking the silver spot price, real-time data can be monitored through thislive chart.PHYSICAL MARKET VS PAPER DERIVATIVES IN SILVER AND GOLDOne of the most important themes Morgan addresses is the battle between the physical market and the paper derivatives market. He argues that the long-anticipated shift—where physical demand overtakes paper-driven pricing—has already begun. According to Morgan, the rally was driven by demand for physical thousand-ounce commercial bars, which underpin the global silver market. While silver trades heavily in derivatives, “under all the derivatives, there lies a thousand ounce bar or 10 of them or 20 of them,” he explains. That physical demand pushed prices higher, but the paper market eventually overextended and forced a correction.Morgan believes the current environment reflects a tug-of-war between physical supply constraints and algorithm-driven futures trading. The paper paradigm still exerts influence, as evidenced by sudden $6–$7 drops in minutes, but he insists that long-term fundamentals favor physical demand.

As the midpoint of February arrives, Craig Hemke of Sprott Money welcomes David Morgan of The Morgan Report to break down one of the most volatile periods the silver market has experienced in years. The discussion centers on dramatic price swings, physical demand, derivatives pressure, and what it all means for investors looking to buy silver or even buy gold as part of a broader precious metals strategy.

Morgan immediately places the recent sell-off into historical context. Many investors have described it as the worst in silver’s history, but Morgan corrects that perception by referencing “Silver Thursday” in March 1980, when silver plummeted from $20.61 to $10.27 in a single day—a staggering 50% drop. Compared to that, the recent 30%+ correction, while “hair raising,” is not unprecedented. He explains that sharp corrections are a natural feature of the futures market, especially after silver surged 140% in a year. “Nothing goes up that fast without having some kind of a correction,” Morgan says, emphasizing that while the recent collapse shocked newer investors, seasoned traders understand such volatility is part of the cycle. Despite short-term turbulence, he remains firm in his long-term outlook, stating, “I think we are going to triple digit silver again, but I don’t think it’s a week from tomorrow.”

For investors tracking the silver spot price, real-time data can be monitored through thislive chart.

One of the most important themes Morgan addresses is the battle between the physical market and the paper derivatives market. He argues that the long-anticipated shift—where physical demand overtakes paper-driven pricing—has already begun. According to Morgan, the rally was driven by demand for physical thousand-ounce commercial bars, which underpin the global silver market. While silver trades heavily in derivatives, “under all the derivatives, there lies a thousand ounce bar or 10 of them or 20 of them,” he explains. That physical demand pushed prices higher, but the paper market eventually overextended and forced a correction.

Morgan believes the current environment reflects a tug-of-war between physical supply constraints and algorithm-driven futures trading. The paper paradigm still exerts influence, as evidenced by sudden $6–$7 drops in minutes, but he insists that long-term fundamentals favor physical demand.

Source: SGT Report