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Expect Way More Fireworks In Silver | Francis Hunt

Liberty and Finance Jan 23, 2026

Summary

Silver could revisit a $333 high before running toward $510, with Hunt arguing this is a far larger, more sustained move than 1980 or 2011.

Inflation-adjusted, silver still has roughly 700% upside and the gold/silver ratio is heading to single digits over time.

Platinum has lagged gold and silver and may break above its 2011 high, with a $3,000 target on Hunt's charts.

Rising margin requirements on silver contracts push miners away from forward-selling, tightening physical supply rather than cooling the market.

Hunt frames silver's move as a physical-delivery crisis, not a retail squeeze, and recommends continued accumulation despite profit-taking.

Elijah K. Johnson's takeaways

  • Top takeaway The host frames the discussion around whether retail investors should sell into silver's recent surge to roughly $95 or hold for further upside, and notes that at Miles Franklin the customer flow is split — both profit-takers and new buyers are showing up at the same time.
  • He introduces the 1980 vs 2011 analogy and asks the guest to argue why this silver cycle will not end in a washout like those earlier spikes, which sets up the bulk of the guest's macro and supply-side case.

Francis Hunt's takeaways

  • Top takeaway Hunt's central call is that silver's move is far from over — he invokes what he calls the 'law of the parabola,' under which 75–80% of the gains come in the final 10–15% of the move, and he points to a localised high near $333 with $5K gold and $100 silver as the next big technical levels he is watching.
  • He argues this rally is structurally different from 1980 and 2011 because the driver is a physical industrial shortage — large buyers like Samsung going direct to mines to secure delivery — rather than a leveraged retail short squeeze, so he does not expect the same post-spike collapse back to the lows that followed the 1980 Bunker Hunt run.
  • Hunt contends that recent margin increases on silver contracts are counter-productive in this environment, because the same higher margin burden hits miners' normal forward-selling hedges and discourages them from selling into a rising market, which he says is thinning the offer stack and amplifying upside rather than capping it.
  • On platinum, he calls it 'cheap gold' that has lagged the other precious metals, points to a long falling wedge technical setup, and targets the foothills of $2,900, noting that platinum is the only major precious metal that has not yet made new highs since 2011.
  • He frames the broader macro backdrop as a 'twin turbo' against synchronized fiat debasement — gold first as the monetary metal, silver second as monetary-plus-industrial with a structural supply deficit — and tells American viewers to avoid selling silver, characterising the current price as 'low' and the move as generational rather than a short-cycle crypto-style squeeze.