Alasdair Macleod believes the silver market is facing a powerful convergence of forces that investors may be underestimating.

Macleod argues that silver is being mispriced by markets despite persistent supply deficits, growing industrial demand, China’s aggressive silver accumulation, and mounting stresses in physical silver markets.

Macleod explains why disruptions tied to the Strait of Hormuz and sulfuric acid supplies could impact global silver production, why China may have abandoned its long-standing policy of suppressing silver prices, and why he believes silver should increasingly be viewed as an industrial metal rather than simply a precious metal.