Kitco News, Released on 2/11/26

Silver is witnessing a profound structural shift as the physical market begins to exert dominance over paper pricing mechanisms. In this deep-dive interview, recorded on February 11, 2026, Jeremy Szafron, Anchor of Kitco News, sits down with David Morgan, publisher of The Morgan Report, to analyze the “plumbing” of the global silver market. Morgan breaks down the sustained $10 Shanghai premium, the impact of the CME’s margin hikes on COMEX volatility, and why the silver market is entering a “cash-only” phase. They also discuss the massive 40-million-ounce silver accumulation in India and why platinum is currently offering a rare 25-year value opportunity relative to silver.

(Timestamps are below the video)

00:00 Introduction and Market Overview
00:06 Shanghai Silver Premium Explained
00:49 David Morgan’s Insights on Silver Market
01:05 Silver Market Dynamics and Arbitrage
02:22 Comex and Shanghai Market Comparison
04:10 Physical vs. Paper Silver Market
15:08 Impact of Margin Requirements
21:58 Speculative Exposure and Market Stress
25:10 Market Reactions to Regulatory Changes
25:48 Public and Institutional Trading Dynamics
26:57 Industrial Demand and Price Sensitivity
29:25 Gold-Silver Ratio and Market Predictions
32:23 ETF Accumulation and Global Demand
35:31 Macroeconomic Factors and Precious Metals
37:47 Technological Innovations and Market Impact
39:43 Platinum Market Insights
40:56 Future Outlook and Investment Advice
49:24 Concluding Thoughts and Final Advice

David Morgan is a world-renown precious metals aficionado. He is the creator of TheMorganReport.com, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand speaker all over the globe, David’s educational mission also makes him a prolific author, having penned Get the Skinny on Silver Investing, The Silver Manifesto and, most recently, Second Chance: How to Make and Keep Big Money from the Coming Gold and Silver Shock.

  china, gold, shanghai, silver