Sprott Money, Released on 11/27/25

Is the silver market on the verge of a massive breakout? Craig Hemke for Sprott Money and renowned precious metals expert Andrew Maguire dive into November’s silver and gold market action, exposing what mainstream media won’t tell you. They break down backwardation in COMEX silver futures, physical market demand, supply constraints, and the weakening influence of Western price manipulation. As silver backwardation persists into a major delivery month, Andrew warns this could be a signal of a complete collapse in synthetic pricing structures. This podcast is packed with critical insights on where the price of gold and price of silver are heading next, why you should buy gold and buy silver now, and how the gold price and silver price may soon be set by physical exchanges, not paper ones. They also explore how institutional buyers and central banks are reshaping the metals markets.

00:00 November Market Overview
02:45 Gold and Silver Price Dynamics
05:41 Market Speculation and Institutional Behaviour
08:59 Backwardation and Market Mispricing
11:58 Physical Markets vs. Paper Markets
14:55 The Future of Silver and Gold
17:44 Institutional Demand and Market Trends
20:56 Potential Risks and Market Outlook

Andrew Maguire is an Independent London Metals Trader and Analyst, internationally renowned for his unique ability to read the precious metals market with the knowledge and experience gained over 35 years trading in financial and commodity markets. Andrew sits on the advisory board of a global physical bullion exchange and is a consultant advisor to many international hedge fund managers, bullion banks, directors and metal traders globally. Andrew is a Director at Kinesis.

Known primarily by his nickname “Turd Ferguson,” Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.

  andrew maguire, gold, precious metals, silver