from Kitco:

Wall Street Was Short Silver. Now It’s Going Long — Keith Neumeyer

Keith Neumeyer says silver’s run to $121 this year pushed the physical market to the brink, and that the metal has now found its floor.

Speaking with Kitco News at the Rule Symposium 2026, the First Majestic Silver CEO, who called $100 silver back in 2012 when it traded in the teens, said the spike exposed how thin the real market is. “The whole system was really on the verge of breaking,” he said, pointing to surging lease rates, margin calls, and refiners that stopped buying. After a roughly 50% correction to around $60, Neumeyer said, “I think we’ve seen the lows,” and called the market “two years into a 10-year bull market.” He credited silver’s move to the US designating it a critical metal, and said the short position that once capped prices, once as high as 800 million ounces, has largely gone, with paper players “now getting on the long side.”