➡ Clem Chambers sold his silver investments after a significant market surge, not because he thinks the market is over, but because he believes the real move hasn’t started yet. He sees this as a strategic move, not panic selling, as he prepares for the next phase of the silver cycle. Despite a recent drop in silver’s value, Chambers believes this could be a reset before a larger surge. He plans to use this opportunity to strengthen his position and potentially profit more when the market rebounds.
➡ The article discusses the volatility of the silver market and the importance of strategic profit-taking. It highlights how a sudden change in the Federal Reserve chair led to a shift in market sentiment, causing a sharp drop in silver prices. The article emphasizes that such corrections are not indicative of a long-term decline, but rather a temporary setback. It also mentions a giveaway on the Silver News Daily Telegram and the author’s shift to other assets like gold and companies building nuclear power stations.
➡ This text discusses the benefits of strategic investing and the potential risks of Bitcoin. It highlights the importance of patience and selectivity in investing, and the potential for silver to increase in value due to a structural deficit in the market. The text also mentions the difficulty of securing Bitcoin and the potential for theft, making it a less attractive investment. Lastly, it discusses the potential for gold to increase in value due to geopolitical conflicts.
➡ The article discusses the increasing industrial demand for silver due to its use in technologies like solar panels, electric vehicles, and electronics. This demand is expected to continue growing, unaffected by daily price changes. The article also mentions the role of novice speculators in driving silver prices and the potential impact of changes in monetary policy. Lastly, it highlights the strategic importance of gold in times of war.
➡ The value of gold and other metals is rising due to geopolitical tensions and a shift in supply chains. Countries are stockpiling metals as the traditional supply chain is no longer reliable. This is also driving up the prices of copper, tin, nickel, and cobalt. Additionally, predictions suggest that silver could significantly outperform gold, potentially reaching up to $309. This is not a guarantee, but a possibility based on current market trends and conditions.
➡ Clem Chambers, an investor, is not giving up on silver but is strategically repositioning his investments. He believes in taking profits during market highs and reinvesting during lows, which reduces risk and increases potential gains. Despite market volatility, he sees a promising future for silver due to factors like increasing industrial demand and potential supply shortages. This approach allows him to anticipate market shifts rather than just reacting to them.

I prefer to look at a different way. You buy when it’s cheap, and then you sell when it’s not cheap. And silver ain’t cheap anymore. You’re watching Silver News Daily. Subscribe for more. Silver just shocked the market. And Clem Chambers did something that most retail investors would never dare to do in the middle of a bull market. He sold after a blistering rally that saw silver surge more than 25% year to date. After SL5 exploded 180% over the past year, with billions flooding in every single month. After futures traders piled in expecting nothing but higher highs, Clem stepped aside and took profits.

And at first glance, that sounds almost heretical. Why would you sell into strength when bank of America is floating numbers as high as $309 for silver? Why would you reduce exposure when structural deficits are piling up and industrial demand is accelerating? Why walk away from what looks like the beginning of a historic breakout? But here’s the part nobody wants to admit. The moment everyone feels comfortable. That’s usually when risk is highest. The moment headlines turn euphoric. That’s often when the smartest money quietly repositions. And then came the shock. Kevin Warsh, nominated as the next Federal Reserve chair.

The dollar bounced. Treasury yields surged. Gold dipped 2 to 4%. And silver didn’t just dip. It collapsed in a single brutal move. March futures plunged double digits. SL FI shed nearly a quarter of its value in a week. Bulls who thought this was a straight line to triple digits suddenly found themselves scrambling for protection. So was Clem wrong to sell? Or was he early? Because here’s what makes this story far more interesting. He didn’t sell because he thinks the bull market is over. He sold because he believes the real move hasn’t even started yet. There’s a difference between abandoning a thesis and strengthening your position.

There’s a difference between panic selling and strategic profit taking. And if you understand that difference, you begin to see why. This correction may be the most important phase of the entire silver cycle. Silver is volatile. It always has been. In every historic rally. It doesn’t move in straight lines. It surges. It shocks. It flushes out weak hands. And then it explodes. The investors who understand this don’t chase the highs. They harvest them. They turn paper gains into dry powder. And when fear replaces euphoria, they step back in with even more conviction. The real question isn’t why Clem took profits.

The real question is what he plans to do next. Because if the structural deficit is real, if industrial demand continues to tighten supply, if The Fed narrative flips faster than markets expect. Then this recent sell off isn’t the end of silver’s story. It might be the reset before something far bigger. And the investors who prepared during the chaos could be the ones positioned for the next surge. Silver’s the fast horse, so it’s the one that’s gone on its run first. Okay, so it could quite easily, although it doesn’t have to pull back quite a long way and basically sync up with gold.

I sync up with gold’s progression because silver is retail gold. Gold is currency for governments. So what was pushing gold was all this global stress and you know, everyone, everyone knows where that’s coming from and a lot of people understand the basis of it. China wants to keep its primacy. Sorry, Prime USA wants to keep its primacy. China is obviously on the border of having primacy in the world and there’s this sort of conflict going on and because of that, lots of countries are loading up on the currency of conflict, which is gold. Well, that pulls up silver and that has pulled up silver.

At certain stage, people out there go, oh, I want some of this. And they buy silver because you can buy lots of shiny for a lot less money when it comes to silver than gold. So silver goes on a ballistic trip, but it’s gold that’s driving it. And because it’s, I mean, if you go onto X and read the comments, you can tell there’s FOMO in the air. I mean lots of fomo and FOMO makes prices go ballistic, whether it’s Gamestop or Bitcoin or houses or whatever. And that’s what we have seen with silver. Now it was funny because I got my last lot out at 103 on Friday, my last big lot.

And I got the, a tiny, some, you know, a couple hundred ounces or so that was hanging about 105. And I told everybody this, no, I’m out, this is what will happen. And this happened. And then people going, oh, it’s 112, look at what you’ve missed, look what you’ve missed. And like two hours later it was 103 again and now it’s 110 again. Well, you know, that is the sort of market which is telling you that it’s either repricing around here or this is the top. And I don’t care which way it is. To understand why Clem Chambers took profits, you have to go back to what 20, 25 actually was.

It wasn’t just a rally, it was a mania. Silver didn’t climb Quietly, it erupted. Futures contracts ripped higher. The March 2026 contract surged more than 25% year to date. And the iShares Silver Trust didn’t just outperform the S&P 500, it obliterated it. Assets under management ballooned from roughly $13 billion at the start of 2025 to nearly 38 billion by year’s end. With billions pouring in month after month, that kind of inflow isn’t normal accumulation. That’s a crowd rushing through the same door at the same time. And when crowds rush, prices overshoot. By the final stretch of 2025, silver wasn’t just being bought for fundamentals.

It was being bought because it was going up. Retail investors piled into ETFs, options activity exploded, calls were cheap, optimism was loud, and every dip was treated as a gift. The narrative was tariffs, geopolitical tension, de dollarization, central bank, gold buying, inflation fears. Everything pointed to higher metals prices. Silver, as always, was expected to outperform gold once the real momentum kicked in. But here’s what seasoned investors Parabolic moves create fragility. When SLV runs 180% in a year, when headlines start throwing around triple digit projections like they’re inevitable, when social media becomes an echo chamber of price targets and countdown clocks, the market becomes one sided.

And one sided markets don’t need much to tip over. This is where Clem’s move becomes strategic rather than emotional. He wasn’t betting against silver. He was recognizing the phase of the cycle. Late stage momentum is powerful, but it’s also unstable. The bigger the inflows, the more leverage the positioning, the more sensitive the market becomes to a shift in narrative. All it takes is a catalyst. And that catalyst came fast. When investors are sitting on massive paper gains, even a small tremor can trigger profit taking. When positioning is crowded, volatility amplifies. The very strength that pushed silver higher becomes the fuel for sharp pullbacks.

That’s not weakness in the long term thesis that that’s the mechanics of a speculative surge unwinding. Clem didn’t sell because he stopped believing in silver. He sold because 2025 delivered outsized gains in a compressed timeframe. He understood that markets breathe, they expand, they contract, they reward patience and punish complacency. And when silver’s rally began to look stretched relative to short term fundamentals, locking in profits wasn’t surrender, it was preparation. Because if you believe a larger bull market is unfolding, the goal isn’t to ride every wave blindly. The goal is to surf the volatility, take gains when Sentiment peaks, build liquidity, wait for the reset.

And when the crowd panics on the first real correction, you’re no longer reacting. You’re ready. And that correction was about to arrive in a way few expected. They lump a silver brick worth. It’s a good question and the the answer is if you look at its price, performance, it has gone into a classic boom, bubble, bust kind of format. It’s going up like a rocket. And when stuff goes up like a rocket, it 9 times out of 10 comes down like a rock. And you know, for example, gold, which is still kind of grinding along, that is behaving in a sustainable way and silver has behaved in an unsustainable way.

It might go a lot higher, it could have a ways to go. But effectively over the last n years, decades almost, when I see what I call hockey stick, you know, when it goes around the bottom, when it, when it’s there, I’ll have that, I’ll buy. Oh, I’m not so sure I want it there. I’ve started dying. Ah, thunk. So you know, it’s at that, it’s more than halfway up the handle of the hockey stick. And I’m sure Canadians would understand about hockey sticks. So you’re up at altitudes and not long ago it was way, way below.

It’s gone up, it’s repriced very quickly in a very dramatic way. And that repricing is often more to do with about market sentiment and FOMO and everybody who’s never owned an ounce of silver piling in trying to buy silver than it is about the real value of silver. That and, and that final leg overshoots. You know, some people call it, call it a blow off top. You know, I call it a crescendo. When you get that crescendo more times than not, it’s better to take the profit, smile, walk away, cry all the way to the bank with your fiat because you can always first of all, most importantly, most people are worried about missing the top or missing a run.

It’s just a bus and there’s always another bus coming. So it doesn’t matter whether silver for me anyway, that silver goes to 200 from here. It just doesn’t. I don’t care because I caught this bus, I got to the destination I wanted to get to, I’ve made a load of money and there’s another bus coming. Copper, for example, loads of different stocks that will get on a run because of what’s going on with gold and silver. Platinum, palladium. I flipped quite A lot into gold. I really like platinum, palladium, although they’ve come down in a big lump, you know, so it’s not like it’s the only asset in the world.

You might love it. I love silver. I mean, I love gold more. Gold is a much nicer thing. But, you know, when it’s at a point, when it has had its big run, then I, I sell. I would. Whether you’re Bitcoin or whether you’re Nvidia or whether you’re houses or whether you’re. Whatever it is, whatever the asset is, when it does that parabola, once it reaches a certain height, once the hockey stick is a certain length, I start to think, ah, I’ve got to sell. I’ve got to sell. And of course it can go up more, I can go up a lot more because nobody has ever gotten a good formula for predicting a top of a hockey stick.

But one thing is almost for total sure, and that is it don’t stay up there. It does pull back. So, you know, you could be greedy, but there’s more people crying who, who were trying to be greedy than there are people who are greedy and get out with a big win. Then came the shock that cracked the momentum. Kevin Warsh was named as the incoming Federal Reserve chair. And almost overnight, the narrative shifted. Markets began pricing in a more hawkish tone. Fewer aggressive rate cuts, tighter liquidity than investors had grown comfortable with during 2025’s melt up.

The US dollar rebounded. Treasury yields climbed. And the same liquidity wave that had carried gold and silver higher suddenly started to recede. Gold slipped a few percentage points, but silver reacted the way it always does in moments of stress. It overreacted. March 2026. Silver futures didn’t just drift lower, they collapsed double digits in a single session. At one point, we saw a 13% intraday plunge. And over the course of the week, silver experienced violent swings that wiped out weeks of steady gains. SL5 dropped more than 20% in a matter of days. For a market that had felt unstoppable just weeks earlier, the reversal was brutal.

But here’s what’s critical to understand this wasn’t happening in a vacuum. The positioning was stretched. Options markets were leaning heavily bullish. The put call premium ratio was sitting near 0.92, meaning the cost of protection was rising quickly as traders scrambled to hedge. Bears were suddenly willing to pay almost as much for downside protection as bulls were for upside exposure. That’s not calm confidence, that’s nervous repositioning. When a market is crowded, it becomes fragile. And when that fragility meets a macro surprise, even one that may ultimately prove temporary, you get forced selling stops get triggered. Leveraged positions unwind.

Late entrants panic. What looks like a fundamental collapse is often just mechanical liquidation. This is where experience separates discipline from emotion. Clem understood that silver had run hard into a narrative that was temporarily challenged. A stronger dollar and rising yields don’t destroy silver’s structural story. But they can absolutely shake out speculative excess. And that shakeout was violent enough to reset sentiment almost instantly. What makes this correction so important is not the size of the drop, but the speed of the psychological shift. Just weeks earlier, analysts were debating how fast silver could climb toward triple digits. After the warsh announcement, the conversation flipped to whether the rally was over.

That’s how quickly sentiment turns in this market. Silver is never gentle. It punishes euphoria as aggressively as it rewards conviction. And this is exactly the kind of environment where strategic profit taking proves its value. Because when volatility spikes and uncertainty floods in, the investor holding cash isn’t afraid. The investor who already harvested gains isn’t trapped. Instead of defending a position emotionally, they can assess the landscape objectively. The question now isn’t whether the correction was painful. It was. The real question is whether the forces that drove Silver’s 2025 surge have actually disappeared, or whether this was simply the first major reset before the next leg higher begins.

Just before we get going, we just launched the official Silver News Daily Telegram. To kick things off, we’re running a 10 ounce silver giveaway. Yes, real physical silver. Not a voucher, not digital credits, actual bullion. This telegram will be our new home for real time silver discussions, market insights, collection picks and everything. Precious metals. It’s where the community truly comes alive. Here’s how to enter the 10 ounce silver giveaway. Be subscribed to Silver News Daily on YouTube. Turn on the notification bell. Comment 10 ounce giveaway on three separate videos. Be an active member of the Telegram group and say hi.

Once we hit 500 active Telegram members, we’ll pick one lucky winner to receive 10 ounces of silver shipped directly to you. So get in early, stay active. I’m now in other assets which are not behaving like a drunken sailor. And you know, gold is still trunking along. Platinum palladium have taken a bit of a dump, which is quite interesting, but they’ve moved 100% too. So I’m expecting gold to maybe take a rest here and then to carry on going. It doesn’t have to. It might Not I might reassess, but Go is all driven by gold. And gold is moving up sustainably, which is not necessarily good news in a big way, but it’s good news for anyone in the gold positions.

So I’ve gone with the stability, with the sustainable move, which is gold. And I’ve also moved into other areas which is, are up, which I think have got a lot of upside, which nobody’s looking at just yet. I’m looking at the sort of companies that build nuclear power stations, not many of them around there. And you’re not going to trust me and you to build a nuclear power station for you, are you? So they’re suddenly going to be in great demand and turning away business and not maybe not turning it away, maybe just saying, yeah, you have to pay a lot more.

You know, we’re very, very, very, very, very busy. And those stocks will, you know, go on a run at some point when people figure that out. So there’s no, there’s, there’s no. Gold is not a religion. Gold is just a very, very pretty metal and it is a currency for conflict and there’s plenty of that around. And therefore it’s going to run. And when it gets, I mean 10,000, it can quite easily get to 10,000 in the next six months. When it gets to eight, I will sweat. And I said this about silver, maybe even on your show.

When it gets to $80, I will start to sweat. I will start to look about getting out. Well, I’ve got out too early too often, so 80 was like get ready to get out, sit there going, which I did. So I got out at some, at 90, some at 95, some 100, some 105 got out at of the shares first because they weren’t behaving because they obviously sensed that we were getting a bit toppy. And then I got out of the ETFs at 103 or something like that. And now apart from a, a big fruit bowl that used to belong to the Duke of Westmoreland, I don’t have any silver.

This is the moment where most investors get it wrong. They see profit taking and assume doubt. They see a sale and assume someone has turned bearish. But in volatile markets like Silver, reducing exposure after an explosive run isn’t a loss of conviction, it’s a reinforcement of discipline. Clem Chambers didn’t take profits because he suddenly lost faith in Silver’s long term trajectory. He took profits because liquidity is power. When silver had surged more than 25% year to date, when SLV had absorbed billions in inflows. When futures positioning was stretched and optimism was peaking, the risk wasn’t that silver would go to zero.

The risk was that it would correct sharply before continuing higher. And in markets, timing matters almost as much as direction. Look at the options market. During the drop, the put call premium ratio hovering near 0.92 told a very specific story. Protection was getting expensive fast. Traders who were euphoric weeks earlier were suddenly scrambling to hedge. That shift doesn’t mean the structural story vanished. It means the crowd became nervous. And when the crowd becomes nervous in silver, volatility accelerates. Taking profits in that environment is not bearish its strategic positioning. Because when a correction hits, capital preservation becomes the edge.

Investors who are fully extended have only one choice. When prices fall, they endure it. Investors who trimmed into strength have another option. They can wait. They can evaluate. They can prepare to re enter on weakness rather than defend inflated entries. There’s also a psychological advantage that rarely gets discussed. Once you’ve locked in gains, you stop trading from fear. You’re no longer protecting unrealized profits. You’re deploying realized capital. That shift changes your behavior. It makes you patient, it makes you selective. It makes you dangerous in the best possible way. And here’s the bigger if you believe silver is in the early or middle stages of a structural bull market, then volatility is not the enemy.

It’s the mechanism that transfers metal from weak hands to strong ones. Corrections, reset, leverage. They clear out excess speculation. They force complacency out of the system. Clem’s move wasn’t about calling the top. It was about respecting the cycle. Markets expand, then they compress. They accelerate, then they consolidate. A disciplined investor doesn’t try to predict every tick. They manage exposure based on conditions. When conditions become overheated, they harvest gains. When fear returns and fundamentals remain intact, they redeploy. And that’s where this story becomes far more interesting. Because while traders were focused on dollar strength and rising yields, something much bigger was quietly tightening beneath the surface.

Something that doesn’t disappear because of a Fed nomination. Something structural, something physical. 2017. I kind of really fell in love with Bitcoin. Bought a load of that, bought it at, I don’t know, 2000, something like that. Sold at 18. The top was 20. There’s your parabola for you. Go, go, go back and look at Bitcoin in 2017 if you want an example of the hockey stick. And right, it’s done its hockey stick. I know all about the hockey. Goodbye. Came back down to I think I was buying it again to 5,000 or something like that. Got out of 40, you went to 60.

But I got out of 40. Oh dear, oh dear, oh dear. Only made eight times my money. I mean, and that was when it was a rogue asset. Well, now it’s, it’s a Wall street asset and it is a synthetic asset. Effectively, it’s not Fang. It’s a way that dictators, you know, buy oil from other dictators. It’s a way that you know people in. Well, who mines a lot of bitcoin? Iran. Who minds a lot of bitcoin, Russia. Who minds a lot of bitcoin, Venezuela. That’s really all I need to know. And now it’s the ultimate bandits that got their hands on it.

Wall Street, I mean, Wall street are not your friend. When it was a rogue asset and it was a small asset. Well, now it’s a 3 trillion dollar asset or 1.5 or whatever it is. It’s a trillion dollar asset. That’s big, that’s heavy thing to lift. Yes, you could say, well, gold is a $50 trillion asset and it’s the new gold. It could go to 50. Yeah, you could have an argument there. But it’s really hard to secure Bitcoin. It’s really, really hard. I just read an article that somebody’s been stealing. The American government seized a bitcoin.

And if the American government can’t secure its own blooming bitcoin, what does that tell you? Yeah, it’s hard to secure. And six months ago, nine months ago, people were getting mugged in the street of Paris for their wallets. People were getting their, their phones hijacked in Amsterdam. Outside of Ethereum conferences, I don’t know any professional in the market. And I know lots that haven’t been robbed for five, six, seven figure sums. All you got to do is read about people getting hijacked. You know, it’s. You can’t secure this stuff, so I’m not interested. I literally, if I hold enough bitcoin for it to be interesting to me, I’m at personal risk.

It’s not the same with Nvidia. I could have, I could, I could have a billion dollars of Nvidia. Nobody would care. Nobody could steal it. It’s. There it is. You know, I could go to a conference and I wouldn’t have my phone hijacked. So, you know, equities and even for that matter, precious metals, if they’re vaulted, you know, much more secure. Don’t have to worry about it. Don’t have to worry about the counterparty that much. It’s not a, a ticking time bomb on your mobile phone, which I’ve, I never used to keep it anywhere near there.

But you know, if you’re walking around with a pair of Bitco on and the wrong person looks at you, it’s like walking around the street at 2am with a gold Rolex twinkling. No, no, it’s lost its luster to me and it’s lost its luster to lots of people because it’s just stuck. It’s just absolutely stuck in an environment. While traders were obsessing over Jerome Powell’s successor and the dollar’s rebound, the real silver story never left the physical market. Because beneath the volatility, beneath the options, panic and ETF outflows, the There is a structural imbalance that a hawkish headline simply cannot erase.

For five consecutive years, the silver market has been running in deficit. Not a minor shortfall, a cumulative deficit approaching 820 million ounces. That is not theoretical paper positioning. That is physical metal that has been consumed but not replaced. And unlike financial flows, you can’t fix a physical deficit with a press conference. Look at what just happened with Fresnillo, the world’s largest primary silver producer. They didn’t announce an expansion. They didn’t surprise the market with higher output. They cut their 2026 production guidance, revising it down to roughly 42 to 46.5 million ounces from a previous estimate as high as 51 million.

In a market already undersupplied, the biggest producer in the world is telling you supply is tighter than expected. And here’s the part most investors underestimate. Bringing new silver online is not like flipping a switch. Mine development takes seven to 15 years. Exploration permitting, environmental approvals, capital expenditure, construction. It’s a slow, capital intensive process. So when deficits stack up year after year, the industry cannot respond quickly. Even if prices rise sharply, new supply lags by nearly a decade. That’s what makes this correction different from a typical speculative unwind. Yes, leveraged longs were flushed out. Yes, sentiment reset.

But the physical tightness didn’t disappear. Solar manufacturers still need silver paste. EV producers still require silver in every battery management system and power connection. Defense contractors still require it for radar and missile systems. Electronics manufacturers still embedded in circuit boards and high conductivity components. The deficit remains. And structural deficits create floors. They may not prevent volatility, but they limit how long prices can stay suppressed without triggering real world consequences. If prices fall too far, marginal producers pull back if prices rise. Industrial users absorb costs because silver is often a small percentage of total product value, but irreplaceable in performance.

This is the kind of backdrop Clem understands. A 13% drop in futures does not refill an 820 million ounce hole. A stronger dollar does not accelerate mine development timelines. A hawkish Fed does not eliminate the fact that industrial consumption is outpacing new supply. So when silver corrects violently inside a structural deficit environment, it creates tension. Paper markets can swing wildly in the short term, but physical fundamentals exert pressure over time. And when those two forces diverge, something eventually gives. The volatility may have shaken confidence, but underneath the noise, the supply side of this market is tighter than it has been in years.

And that tightness is quietly building toward the next phase of the story where gold and silver can go through the roof. And bitcoin, according to theory, if you’re a bitcoiner, should be going mental. It’s just sat there, dead duck lying dead duck in the water. And I think it’s highly likely that that’s going to be coming down to 60,000 pretty soon. But we will see that Maki doesn’t listen to me. Now, turning to the fundamentals driving these markets, one of the things in the first interview we ever did, you talked about how gold is for war and you’ve talked about how really the geopolitical conflicts we’re seeing around the world is a major driver for the precious metals space.

Can you discuss a bit more on, can you discuss this a bit more? And also, I guess when it comes to like specific events over the last month or so, you know, in Venezuela, Trump won in Greenland and all that wasn’t me, I didn’t do it, I didn’t do it. It wasn’t me. I didn’t do it. You know, I have nothing to do with Iran, I have nothing to do with Venezuela. You know, Vlad, don’t talk to me no more. Yeah, these nothing to do with me. All I saw was gold about to go mental in the stock charts because of the way that I analyz analyze it.

And before that I’d be watching gold. You know, I’ve been stacking gold because it’s a part of a diversified portfolio at risk and that’s what I like to have, which since then I haven’t really got because I had a big pile of quite concentrated metal positions and I looked at this child when. Hold on a minute, it’s going to go nuts. What’s going on? What could possibly cause that what is the purpose of gold? You see, one good thing about Quicktoe is they have this concept, two concepts. One is the rug, which means when you buy something and somebody defrauds you, and people should always bear that in mind.

And the other one is use case. What is the use case of gold? What’s it for? What’s it do? Who’s got it? Why do governments keep warehouses full of this stuff? They’re not going to make money out of it again, but they’ve got piles of it. Why did they stockpile gold? What is the use case? The use case of gold is for war, is the only currency for war. And I went, oh, of course, yeah, duh, duh. I spent, you know, 58 years of my life thinking, yeah, I like gold. I’ve got gold watches and, and, and gold coins and gold artifacts and go, go, go.

I got lots of gold. But what’s it for? It’s, it’s not a load of people getting gold teeth or jewelry, is it? Gold is for what? So when the market says this thing is going ballistic is, I don’t sit next to Vlad, I don’t sit next to Donnie, I don’t sit in the nsa, I don’t do any of that. But I can see what they’re up to by looking at the stock market because funnily enough, when they make a decision, that information flows. So when you see something happening, it’s. It’s really classic chart theory. All you’re seeing is insider trading at work.

So when gold starts to move, you say, who would, who would be now layer on top of that structural deficit something even more powerful. Industrial demand that is not cyclical, not speculative. But embedded into the future of the global economy, Silver is not just riding investor enthusiasm. It is hardwired into the technologies that governments and corporations are aggressively scaling. Start with solar. Silver is the most conductive metal on Earth. Photovoltaic cells rely on silver paste to efficiently convert sunlight into electricity. There is no true substitute that delivers the same conductivity and durability at scale. As nations push toward net zero targets, and as AI infrastructure demands more power, solar capacity is expanding at an extraordinary pace.

Every new panel requires silver. Multiply that by millions of panels, by utility scale farms, by national grid upgrades, and you begin to see the scale of demand pressure forming beneath the surface. Then consider electric vehicles. An EV uses significantly more silver than a traditional internal combustion engine vehicle. Battery systems, inverters, high voltage connections, advanced driver assistance, electronics, charging infrastructure. Silver’s conductivity and reliability make it critical in these systems. As EV adoption accelerates globally, that incremental silver demand compounds year after year. And unlike jewelry demand, which can fluctuate with consumer sentiment, EV production targets are being locked into long term industrial plans.

Consumer electronics add another layer. Smartphones, laptops, tablets, data centers. Silver is embedded in circuit boards, connectors and switches because failure rates matter at scale. As AI expands, as cloud computing grows, as semiconductor complexity increases, the need for high performance conductive materials rises alongside it. Silver is not decorative in these applications, it is functional. Defense spending introduces yet another dimension. Radar systems, missile guidance technology, submarine electronics, advanced communications equipment. Silver plays a role in components where reliability under extreme conditions is non negotiable. And in an increasingly unstable geopolitical environment, defense budgets are not shrinking. This is what makes the current correction so deceptive.

When futures plunge and ETFs wobble, it feels like demand is evaporating. But industrial consumption does not respond to daily price volatility. Solar installers do not halt projects because silver fell 10% in a week. EV manufacturers do not redesign battery systems because of a hawkish Fed appointment. Industrial demand is sticky. It builds gradually, it compounds quietly. And when it intersects with a constrained supply environment, it tightens the market from the inside out. This is why Clem’s strategy isn’t about abandoning silver. It’s about understanding where the real pressure is. Building speculators move fast, industry moves steadily. When those two forces align in the same direction, price reactions can be explosive.

Right now, the paper market has been shaken. Sentiment has cooled. But the industrial engine underneath silver is still accelerating. And when confidence returns to the investment side, while this demand continues to expand, the imbalance could become impossible to ignore. We’re in slightly different market. Microstructure is incredibly important. And you know, I’ve opened a site recently that has UK level two, where you can see every single order, every single trade orders that have been sitting around for a day, orders that just went in and got pulled out, whole thing, whole microstructure. And that is what drives prices in the acute Phase I right now, right here.

Day trading stuff. Yeah. So if you look at the market of today, it has gained speculators. Fifteen years ago, there’s hardly any speculators. And with the advent of crypto, with the advent of COVID with the advent of Robin Hood, you’ve got this battalion, this zombie horde of novice speculators who trade fomo. And you know, the crypto people, they trade fomo, they don’t care. They know, they call themselves degenerates. Right. So we now have hundreds of thousands of potentially millions of FOMO speculators. And of course they can just go Robin Hood, please. Clickety click click. Oh, I just bought 10 ounces of silver.

And that’s what’s driving silver right now. Go on to X. Look at my at Clem Chambers on X. Yeah, go. Follow me. You will see a brigade of people going oh, let’s go to 500. Oh let’s go to 2000. Oh. And it’s like, oh, you know, it’s school out today. But that is a very large driver of the market these days. And you know that blow up all those hedge funds over Gamestop and quite rightly so too, they came in, took a position in some crazy stocks that were shorted to infinity and blow up the professionals because you know they are a hoard.

They’re the hoard of Mongols sweeping down from the steps. They accentuate move dramatically. So silver is a very accentuated move. And of course at some point they’re all piling to gold and say gold is going to 100,000. It’s going to be like Bitcoin, blah blah and all that cob swallow. But there’s another layer to this story that could change everything and it sits at the center of the macro narrative. The market reacted to Kevin Warsh’s nomination as if a permanently hawkish regime had just been installed at the Federal Reserve. The dollar bounced, yields climbed, metals sold off sharply.

Traders began pricing in tighter financial conditions for longer. The so called Warsh hawkish trade took over almost instantly. Yet markets have a habit of oversimplifying. Warsh has historically leaned hawkish, yes, but he has also been described as pragmatic rather than ideological. And if growth slows, if financial conditions tighten too quickly, if market stress builds, the Fed historically adapts. Monetary policy is rarely static. It responds to pressure. Investors may be extrapolating a permanent dollar surge and sustained high real yields at the exact moment when the global system remains fragile. Remember what fueled the 2025 rally? Dollar weakness, policy uncertainty, de dollarization trends, central banks, diversifying reserves, inflation concerns.

Those forces did not disappear with a nomination. The dollar had already fallen to multi year lows before bouncing. Structural questions about U.S. fiscal sustainability still exist. Government deficits have not been resolved. Geopolitical fragmentation has not reversed. If anything, the speed of the dollar’s rebound following the announcement shows how sensitive positioning had become. When everyone leans the same way, even a modest policy shift triggers an outsized move. But currencies trend over longer cycles. If the economy slows or markets Demand liquidity, a supposedly hawkish stance, can soften quickly. And here’s where silver becomes uniquely Gold reacts to monetary policy.

Silver reacts to monetary policy and industrial demand simultaneously. If the Fed narrative shifts back toward accommodation, and even modestly, the dollar could weaken again. That would reignite investor flows into metals, but this time silver would be entering that phase with a multi year structural deficit and accelerating industrial consumption already in place. The market is currently pricing in a strong dollar environment as if it is guaranteed. But policy paths rarely move in straight lines. If inflation cools but growth weakens, the Fed faces pressure. If financial markets wobble, liquidity returns. And when liquidity returns, silver historically doesn’t just recover, it surges.

This is why Clem didn’t treat the correction as a thesis breaker. He understands that macro narratives are fluid. The Warsh appointment may have triggered the reset, but it does not permanently alter silver’s supply demand imbalance. If the dollar rally proves temporary and policy expectations recalibrate, the investment bid could return quickly. And when it does, it won’t be meeting a relaxed supply backdrop. It will be colliding with a market already structurally tight. Yeah, so it’s all about global conflict and what happens because China has clearly said we want tag one back. The PLA, People’s Liberation army will be ready in 2027, and the market looks out a year.

It’s 2026, it’s February, February 2027. It’s getting pretty close, isn’t it? So that’s what you’re seeing. And of course, you know, on the far end of that particular arc, gold’s not worth anything. It’s worth absolutely zero because, you know, the balloon goes up, we’re all gone. Yeah, but if that doesn’t happen and, you know, people in power get an outbreak of, you know, natural intelligence and they all simmer down, well, gold will drift off too. But if there’s a sort of, of what’s a. A deadlock over Taiwan, it’ll stay high. So really, gold is telling you the sum total of what people who know and people who think they know think about what’s going to go on in geopolitical stress this time next year.

And that’s why these things are so elevated. Now there’s another thing going on which is almost connected, all right? And that connection is America. And lots of other people are stockpiling metals like crazy because the supply chain of the past is dead, deader than a duck. And the reason it’s dead is because of this and because of what’s gone before. It and because of onshoring, the only reason Trump wants to onshore American industry and build ships and all that stuff is because of American primacy, which, which is part of this conflict with China. And everybody and their auntie is laying in stocks.

Strategic reserves are stockpiling critical metals. So there’s just a broad amount of stockpiling going on underneath the precious metal layer. So that’s why copper’s on the run, tins on a run, nickel’s on a run, cobalt’s, they’re all kind of going together like that because everyone’s got to get a stockpile in. They can’t do just in time manufacturing in anymore. They have to have just a warehouse around the corner manufacturing. And that means laying in, I don’t know, nine months of global supply locally for everybody. Well, you know, that’s a driver and that’s going to be a driver for a long time because none of this is going to go away.

None of this is going to go well. We’re not going to get, you know, nice people suddenly taken over in China, Russia and, and the Western hemisphere. Now, let’s talk about the number that caught everyone’s attention. $309. That’s the figure floated by bank of America’s head of metals research, Michael Widmer, suggesting silver could cap near $309 while still outperforming gold. And whether you believe that exact number or not almost doesn’t matter, because what it does is reset the psychological ceiling. For years, silver investors have anchored to $50. The 1980 spike, the 2011 high, that number became a mental barrier.

But when institutional analysts begin discussing figures north of $300, even as a theoretical cap, it reframes the discussion entirely. It tells the market that triple digits are no longer fantasy, they’re part of mainstream modeling scenarios. And here’s the Widmer wasn’t calling for an immediate straight line surge. He was acknowledging that even with caution, even with potential headwinds, silver has the capacity to significantly outperform gold in this cycle. That matters because historically, when silver outperforms, it doesn’t do so gradually. It compresses years of gains into months. Look at the math. If silver were to approach even a fraction of that projection, the upside from post correction levels becomes extraordinary.

And markets don’t need to reach $309 to generate explosive returns. They just need momentum to shift back in alignment with structural tightness and renewed investment flows. This is where Clem’s timing becomes interesting again. When the market is euphoric, extreme Targets feel inevitable. When the market corrects sharply, those same targets feel absurd. But the fundamentals underpinning long term projections don’t Vanish during a 20% drawdown. Structural deficits don’t reset. Industrial expansion doesn’t pause, Mine supply doesn’t Suddenly surge. The $309 projection acts less as a literal promise and more as a signal of scale. It tells you that major institutions are modeling scenarios where silver breaks decisively above its historic highs.

And once a market breaks prior all time highs with conviction, price discovery becomes unpredictable. Resistance levels disappear, Momentum traders pile in, short sellers retreat. If silver even begins to trend toward triple digits, capital flows could accelerate dramatically. ETFs would see renewed inflows. Futures positioning would rebuild. Retail enthusiasm would return. But this time the backdrop would be different. Instead of a speculative rush building from neutral supply conditions, it would be building on top of a multi year structural deficit and expanding industrial demand. That combination is rare. So when Clem took profits during the first surge, he wasn’t rejecting the possibility of higher long term targets.

He was acknowledging that bull markets breathe. They reset before advancing. And if institutional projections like $309 remain even remotely plausible within the next few years, then the recent correction isn’t a ceiling. It may be the foundation for something much larger. It’s for, let’s say, global stress. There’s people out there that see a lot of global stress coming. The governmental, they’re learning gold because gold is for war and we are approaching war. That’s the thesis. And then you go, right, well the chart says. And you look around the world and you go, yeah, well there’s, there’s, there’s she, he’s a bit spicy.

There’s Vlad. Oh, he’s definitely spicy. Oh, and there’s the new guy from New York coming in and he’s pretty spicy. Oh, three of the biggest powers, super spicy. The only people that are laid back are the Indians. Yeah. Oh, okay, so let’s, that’s, oh, and the gold is going like that. Ah, two and two equals four. And off it off it went. So gold is. So what’s the use case of bitcoin? Well, the bitcoin is for putting on it on a smart stick in your top pocket and heading for your private jet because you’re getting out of Dodge because you’re as Afghan minister of something or other who’s pillaged the American taxpayer for 2 or 300 million and has to get out of Kabul in a hurry and has to leave $5 million on the tarmac like one did.

Yeah, Bitcoin is for flight. So when you’ve got a Venezuelan situation, you’ll see bitcoin go on a run. And then when it was all done dusted really quick, down it came fast when they bent the knee, Iran, up it goes. Oh no, I know, oh well, they’ve murdered all the kids and now they’ve stabilized situation. Down goes. Yeah, but underneath the hood, you could say that’s the acute thing in geopolitics. The chronic thing is gold. Bitcoin is acute, Silver is more acute. Gold, gold is chronic. So what you’re seeing now is where we’re going to be in a year, okay, because that’s how the market thinks a year out.

And in a year’s time we’re about 10 weeks away from a potential Chinese invasion of Taiwan because it’s 20, 27 and I think it’s either April or May’s when the weather’s right for it. So that’s when if it, that’s the first possible day it’s going to kick off. So what we’re seeing now is the, the mirage, the imagination of the market of a Chinese invasion of Taiwan. And, and that’s why it’s going now. If the market thinks that’s all got really horrible, it will keep going up. If they think, oh, it was a 10, 10 year battle when it didn’t work and they pulled out and made lots of loud statement, victory and left, then go.

Will fall off in a few weeks time, a few months time. But I don’t think that’s going to happen. I think, you know, we’ve got a, I think the Taiwan situation, you see, he fired his top general. Did she? Last week. Well, why do you fire your top general? Good old boy buddy from the back, from the good old days. Well, the general’s dragging his feet. Well, that’s. Why is he dragging his feet. He’s saying, yeah, yeah, boss, oh, this is half a million soldiers in Taiwan, you know, you know, that can fire a gun and we’re gonna have to land 2 million on those blooming great cliffs up there.

And oh, oh, I’m not sure. Can we put it back a bit? Can we go a bit slower? And she’s gone. No, you’re fired. No one’s going to drag their feet. We’re going to do it. Yeah. And that’s probably what we just saw, the market working that out. So what does doubling down actually look like in practice? Because this is where theory separates from execution. Clem didn’t take profits to sit in cash Indefinitely. He took profits to build ammunition. In volatile markets like silver, capital rotation is everything. You don’t marry price, you manage exposure. The first layer is physical metal.

When volatility flushes out speculative excess and spot prices retrace sharply, premiums often compress, and fear keeps retail buyers on the sidelines. That’s when disciplined investors begin accumulating again. Physical silver removes counterparty risk. It anchors a position in the structural thesis. If the deficit narrative accelerates and trust in paper claims weakens, physical ownership becomes increasingly valuable. The second layer is liquidity through ETFs, like SLV. During panic phases, inflows reverse and assets under management contract. That contraction creates opportunity. When sentiment is fragile but fundamentals remain intact. Scaling into ETF exposure allows for flexibility. If Momentum returns quickly, ETFs provide instant participation.

If volatility persists, capital can be adjusted without friction. Then there’s the leverage layer. Mining equities. Historically, silver miners don’t just follow the metal, they amplify it. When silver broke higher in prior cycles, select miners delivered multiples of the underlying move. But miners are volatile. They’re sensitive to energy costs, jurisdictional risk, and financing conditions. That’s why deploying capital into miners during fear rather than euphoria matters. You want compressed valuations, not stretched ones. Clem’s approach isn’t about going all in at once. It’s about scaling, redeploying in tranches, respecting volatility rather than fighting it. If silver drifts lower while the macro narrative stabilizes, more capital can be deployed.

If the dollar softens and momentum snaps back quickly, initial positioning captures the upside. It’s controlled aggression. And there’s another strategic advantage. After locking in gains from the 2025 surge, any redeployment is funded by profits, not principal. That changes risk psychology entirely. It allows for conviction without recklessness. You’re compounding gains rather than defending original capital. This is what disciplined bull market participation looks. Not blind loyalty, not emotional attachment, but active management aligned with structural conviction. Clem isn’t abandoning silver. He’s repositioning within the cycle. Because if the deficit persists, if industrial demand keeps accelerating, if the dollar narrative softens even slightly, the next leg higher could unfold faster than the first.

And investors who preserved liquidity during the correction won’t be scrambling to buy strength. They’ll already be building exposure, while others are still debating whether the bull market survived. Yeah, and that drives prices to extremes over very short periods of time. So, like yesterday, you go to bed at whatever it was, 98. You wake up 103. It goes to 113 and comes back to 103. I mean we’re talking about commodity here and that is particularly like commodity bubble behavior. And would anybody be surprised if it was down at 75 in two weeks time? Nobody would be. They’d all be saying, oh no, it’s me, it’s not fair and all that.

But you know, it’s only 75 a few days ago. So that’s what happens. Up like a rocket, down like a rock. Which is why I got out, because the rocket was far enough up the old hockey stick handle for me to want to leave. Where’s the exit over there? Yes, I’m off to the exit. Ya la la la la. Bye everybody. Bye. And I went to a beautiful hot spa in Italy and laid in the incredibly expensive hot spa waters for a couple of days and with a big smile on my face because, you know, at the end of the day markets were for making money and money, whether you don’t like it being called fear or whatever, money to buy things in general.

Who wants to be, you know, a miser eating porridge with 50 million in the bank, you know, what’s the point with that? So you know, with markets, if you can buy things that you spot about to go up a hockey stick, you can, you can really, really have a great time and. But you should never ride it all the way back down again. Just get out that net. People always regret what they miss on the upside, but I’ll tell you that they regret more losing that upside when it comes down where that, where they would have sold comes down below that.

And they regret even more losing money. And most people end up actually losing money and crying about it. And all they’ve been on is a journey from here to here to here. But you know, here to here. Get out. Goodbye. It doesn’t matter if it goes there, it’s probably going to come back down there now. Up like a rocket, down like a rock. Can’t argue with the x profit 1 x 2 x 3 x 4 you know, all day long, all day long, there’s always another bus coming. This is the part most investors miss. Clem Chambers didn’t abandon silver.

He upgraded his position. He converted momentum into ammunition. He stepped back not because the bull market is dead, but because he believes the real phase of the bull market is still ahead. Look at the landscape now. A multi year structural deficit approaching 820 million ounces. Major producers cutting guidance instead of expanding output. Industrial demand accelerating through solar expansion in electric vehicles. AI infrastructure defense systems. And layered on top of that, institutional projections that openly discuss triple digit silver even figures as high as $309. None of that disappeared because of a hawkish headline. What changed was sentiment.

And sentiment resets are where fortunes are positioned. The warsh nomination triggered volatility. The dollar bounced. Yields climbed, leveraged longs were flushed out. But volatility is not the end of a bull market. In silver, Volatility is the mechanism that fuels the next surge. It clears excess speculation. It forces weak hands out. It rebuilds the base. Clem understands that cycles move in waves. The first wave in 2025 delivered explosive gains. The correction in early 2026 delivered emotional whiplash. The next wave, if fundamentals remain intact and macro conditions soften even slightly, could be stronger than the first, because it will be colliding with a tighter physical market and more aware institutional capital.

Taking profits is not quitting, it’s reloading. And when that next phase begins, whether driven by renewed dollar weakness, policy recalibration, accelerating industrial demand, or a visible squeeze in physical supply, silver won’t drift higher politely. It will move the way it always does. Fast, violent, relentless. The investors who panicked during the correction will hesitate. The investors who preserved liquidity will deploy. That is the difference between reacting to markets and anticipating them. If you want to stay ahead of these shifts in the silver market, make sure you subscribe to the channel so you don’t miss what’s coming next.

And remember, this is not financial advice. And you should always speak to a qualified professional before making any financial decisions.
[tr:tra].

See more of Silver News Daily on their Public Channel and the MPN Silver News Daily channel.