Morgan Sees Silver Bull Market Far From Over Amid Sovereign Debt Concerns

Financial markets expert David Morgan shared his insights on the current state of silver and gold markets in a recent interview. According to Morgan, the bull market for silver is not over despite a significant correction from $121 to $55. He believes that the metal shows renewed upside momentum and maintains a target price of $150 or higher within a couple of years.

Morgan pointed out that both silver and gold have experienced corrections in recent times, with silver correcting by 55% and gold by around 30%. However, he notes that these corrections are not uncommon in the market and that the metals are showing signs of renewed life. Morgan attributes this to the fact that investors are still chasing silver for monetary reasons, but not yet due to FOMO-driven retail participation.

Morgan also discussed the potential for a sovereign debt crisis, citing Japan's struggling economy and high bond yields as a concern. He warns that if the Japanese yen triggers a domino effect on the US Treasury bond market, it could have serious implications for global financial markets. Morgan emphasizes the importance of being prepared for such an event and suggests holding around 10% of one's portfolio in physical metals as a form of fiat devaluation protection.