Earlier today, David McAlvany joined the Schwab Network’s Market on Close to discuss the powerful breakout unfolding in gold and silver — and why he believes this bull market has far deeper roots than short-term volatility.
In the interview, David explains why silver just recorded a historic monthly close, why mining shares are beginning to outperform, and how capital may be rotating toward hard assets after years of underallocation. He also outlines the larger structural forces supporting precious metals, including record global debt levels, rising sovereign risk, shifting asset allocation models, and sustained ETF demand across the U.S., Europe, and Asia.
The conversation also touches on recent CME disruptions, questions around futures market dynamics, and why fiscal trends — not just geopolitics — are driving renewed interest in gold and silver.
David’s perspective is clear: this may not be a cyclical trade, but part of a broader structural reallocation that is still in its early stages.
