According to “Physical Silver: When Paper Promises Meet Physical Reality,” the silver market has been running persistent supply deficits, with above-ground inventories continuing to decline into 2026.
As existing metal is increasingly redistributed rather than newly supplied, a gap is emerging between paper markets and physical availability.
On The Wealth Tracker, Hongbin Jeong speaks to Gregor Gregersen, Founder of the Silver Bullion Group, about what this disconnect means for silver prices, market stability, and investor positioning today.

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