Miles Franklin Media – YouTube, Released on 6/9/26

For Part 2 of this interview, CLICK HERE

Is silver on the verge of a major breakout? Alasdair Macleod believes the silver market is facing a powerful convergence of forces that investors may be underestimating. In Part 1 of this interview, Macleod argues that silver is being mispriced by markets despite persistent supply deficits, growing industrial demand, China’s aggressive silver accumulation, and mounting stresses in physical silver markets. Macleod explains why disruptions tied to the Strait of Hormuz and sulfuric acid supplies could impact global silver production, why China may have abandoned its long-standing policy of suppressing silver prices, and why he believes silver should increasingly be viewed as an industrial metal rather than simply a precious metal.

00:00 Introduction
01:30 Silver
01:46 Hormuz Sulfuric Acid Shock
06:48 Supply Lag Timing
09:35 China Silver Pivot
14:25 Geopolitics Resource Hoarding
17:10 Comex Open Interest Drop
24:29 Bullion Banks Backing Off
32:51 Industrial Demand Surge
39:49 When Silver Breaks Out
43:11 Why This Time Different
45:00 Outlook And Wrap
48:21 Part Two Teaser

Alasdair Macleod is head of research for GoldMoney and Strategic Advisor at VON GREYERZ. Alasdair has been a celebrated stockbroker and Member of the London Stock Exchange for over four decades. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. Read Macleod’s writing: https://www.goldmoney.com/research and MacleodFinance Substack.

  investing, iran war, precious metals, silver