Metal Cuts Paper: The Gold and Silver Disconnect Has Arrived

In this excellent interview, David Smith (research analyst for David Morgan’s The Morgan Report) discusses the rapidly growing disconnect between the physical and paper markets for precious metals.  The disconnect is here!



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  1. Even with 30% premiums that still puts Silver below its 2011 high.  That’s not a difficult decision to make for hardened buyers.  May 1st it’s on.  

  2. I’ll attest to the premiums going up, just can’t find any deals out there. Lol keep Stacking

  3. decoupling is when miners stop selling at spot, but they still do, anyone screaming decoupling is just BS, the dealers are pocketing all the profits, that’s all … jmo

    • Many or most miners are required to sell at spot or below… Silver Wheaton buys at $4 per ounce regardless of spot, unless I misunderstood something I read here on SD. Good point, if the miners are selling ABOVE SPOT, then we have a major malfunction! 
      is your SN like SilverGolem??? lol

    • @undeRGRound
      no it’s smeagol from the lord of the ring!

  4. I won’t call a disconnect until prices with premiums pass $40 an oz

  5. It does seem early to be calling a disconnect.  What we are seeing may be more temporary than a “disconnect” implies… or am I reading more into this term than than is really there?

  6. To all weak hands,
    There is still a long way before you can disconnect the physical and paper!
    We are not whales and is David Smith or David Morgan a whale? Think about it…
    You want to have physical metals in your portfolio? Fine… but do not allocate your 100% wealth into phyzzz, it will kill your portfolio!
    Have a safe trading.

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