Silver Touches $70 as Physical Gold Demand Strains Vault Capacity -

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.
Later in today’s program we’ll hear from Peter Krauth, author of the book The Silver Bull and publisher of Silver Stock Investor. Peter tells us why he believes that even with the recent advance in the silver price over the last several weeks the white metal is still undervalued and shares where he thinks it ought to be priced today.
Mike Maharrey and Peter also discuss how emerging industrial applications for silver aren’t going away anytime soon and will likely only make the 6-year long structural supply silver deficit situation look even worse in the years ahead and thus provide a floor under the current silver price.
So be sure to stick around for another wonderful interview about that and a whole lot more with Peter Krauth, coming up after this week’s market update. And as a reminder please download, like, rate and subscribe to this podcast wherever you consume this content.
Well, gold and silver markets are wrapping up an eventful week, with both maintaining somewhat of a bullish posture despite some hawkish signals from the Federal Reserve.
Earlier in the week silver had surged through the psychologically important $70 level, trading above $71 at one point before pulling back sharply to below $68 currently. Silver has gained about 15% over the past month and about 75% from year-ago levels. For the week now the white metal is off more than $2 now – with all of that coming here with today’s selloff. As of this recording silver checks in at $67.57 an ounce, showing a 3.0% decline now for the week.
Gold, meanwhile, spent much of the week consolidating after last week’s powerful advance. The yellow metal reached a better-than-three-month high of nearly $4,700 an ounce on Tuesday before pulling back today as well. Gold is off nearly 3.0% here today alone and currently trades at $4,486, a 2.8% drop since last Friday’s close.
The big catalyst for metals in recent weeks has been growing concern over U.S. fiscal and monetary policy.
Last week, the Treasury Department expanded its purchases of longer-dated government bonds. That intervention helped push yields temporarily lower, weakened the dollar, and raised fresh questions about just how far policymakers will ultimately go to prevent soaring government borrowing costs from destabilizing the bond market.
Those concerns aren't going away. The federal debt has now crossed the astonishing $40 trillion threshold, while long-term Treasury yields remain historically elevated.
But gold and silver encountered headwinds this morning when Federal Reserve Chairman Kevin Warsh delivered his first Jackson Hole address.
Warsh emphasized that inflation remains the Fed’s primary concern and reiterated his commitment to returning inflation to the central bank’s 2% target. He described the labor market as essentially consistent with full employment and offered little encouragement to investors hoping the Fed will soon pivot toward easier monetary policy.
Interestingly, new labor-market data released at roughly the same time showed that U.S. payroll growth through March was overstated by about 79,000 jobs. But that downward revision wasn't large enough to outweigh Warsh's inflation message.
And inflation data remains stubbornly high, causing markets to assign greater odds to another rate hike before year-end.
All of this creates an unusual tug-of-war for precious metals.
Higher interest rates and rising real yields can certainly pressure gold and silver in the short run. But the reason interest rates remain elevated is hardly reassuring. Inflation is proving difficult to contain, federal borrowing continues at an extraordinary pace, and Treasury officials are already intervening more aggressively in the long-term bond market.
Silver, meanwhile, appears increasingly determined to chart its own course.
Today’s correction notwithstanding, its push this week above $70 represents another important technical and psychological milestone. Silver has historically tended to lag gold during the early stages of precious metals bull markets and then dramatically outperform once investor participation broadens.
We may be seeing that process unfold again.
At the same time, there's another important development in the gold market that investors should pay attention to.
While traders obsess over every Federal Reserve statement and every daily move in the futures market, wealthy investors around the world appear increasingly interested in something much more tangible: actual physical gold.
In fact, there is now something of a global race to build more vault space to accommodate it.
The Financial Times reports that precious metals storage facilities from London to Switzerland and Singapore are expanding as demand for physical bullion surges.
London bullion dealer Sharps Pixley says its existing vault is packed virtually floor to ceiling, and the company is now searching for a location for another depository.
Swiss precious metals giant MKS PAMP is also looking to build a substantial new vault aimed specifically at its wealthiest customers.
And these aren't investors buying a few ounces.
MKS PAMP says demand has surged for its highest-end service catering to investors putting at least $50 million into precious metals. Some clients are entrusting the company with $200 million or more.
Perhaps even more significant is WHY these investors are buying.
According to people in the vaulting industry, wealthy clients increasingly want physically allocated gold held outside the banking system. They view it as a safety net against financial instability.
And some investors who previously owned gold through exchange-traded funds are now switching to bars and coins.
One bullion executive summed up the trend quite simply: clients increasingly want fewer intermediaries between themselves and their gold.
That is a fascinating development because gold itself doesn't take up very much room. London alone currently holds more than 9,500 metric tons of gold worth roughly $1.2 trillion. So, when an industry built around storing an extraordinarily dense asset suddenly starts running short of capacity, something significant is happening!
And the broader demand numbers reinforce the point.
According to a recent HSBC survey cited in the report, nearly half of high-net-worth investors expect to increase their gold allocations during the coming year, while just 13 percent plan to reduce them.
Some wealthy families are reportedly holding 25 to 33 percent of their portfolios in gold.
Much of this appears connected to what markets have dubbed the “debasement trade.”
The United States just crossed $40 trillion in federal debt. Government borrowing remains enormous. Treasury officials are intervening more aggressively in the bond market. And foreign governments and private investors alike have reasons to question the long-term purchasing power of dollar-denominated assets.
That helps explain why today's gold market is about more than whether the Fed hikes rates another quarter point.
Some of the world's wealthiest investors aren't merely speculating that gold prices will rise.
They're buying the metal itself, taking direct ownership, and making sure there's a secure vault somewhere to hold it.
And that may tell us considerably more about gold's long-term outlook than any single day's move on Wall Street
Well now, without further delay and for much more on silver, let’s get right to our exclusive interview with author and resource sector industry insider Peter Krauth.
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Mike Maharrey: Greetings. I'm Mike Maharrey and I'm joined today by Peter Krauth. Peter is the man behind the Silver Stock Investor newsletter and the author of The Great Silver Bull, which is in my opinion, one of the best overall guides to the silver market that exists out there. And Peter gives, he kind of confirms the stereotype that Canadians are super nice people. How you doing today, Peter?
Peter Krauth: I'm doing well. Thanks for having me, Mike. And how are you?
Mike Maharrey: I'm doing well. It's always a pleasure to have you on. I was thinking you were one of the first guests that I interviewed when I first started doing these podcast interviews almost two and a half-plus years ago now.
Peter Krauth: Wow.
Mike Maharrey: We've been doing this a little bit. Pretty cool.
Peter Krauth: We have. We have.
Mike Maharrey: And we've seen a lot!
Peter Krauth: Right? We have, and I enjoy it every time, but you're right, we've seen a lot. Yeah, it's two and a half years. Wow. I mean, that's been, I'm going to say the meat of the silver run so far, which has been tremendous. And you had a lot of doubters early on. And even if we think about a year ago, we were still sub 50. We were $40. We had yet to cross that 45 year line of $50. And then when so many though it was never going to happen, well, we got there.
Mike Maharrey: It's funny, I feel like that people that are interested in the silver market and probably by extension, the gold market as well, are some of the most pessimistic people in the world because you mentioned that we had all that skepticism. I still see the skepticism today with $70 silver. I guess my first question is just kind of wanted to look at the overall state of the market. We've got a pretty healthy little bump here over the last few weeks. I think a lot of that's been driven by a resurgence of the debasement trade and the treasury department here in the US trying to tinker with the long end of the interest rate yield. So I'm curious, just in your though, just looking at the market, we're at around $70. We were just below 70 when we started recording the interview. Do you think that that price right now is pretty representative of where we should be given the dynamics?
Or do you feel like that silver is underpriced or overpriced at this point in the process?
Peter Krauth: Yeah, I would say honestly, I think it's underpriced, but a little bit underpriced. I'm not saying it should be $100 and I'm not saying that it. Or even $90. But honestly, if we were, I think more realistic and I think we'll probably get there before the end of this year, $80, $85 is probably a lot more realistic given just the silver's a hybrid metal, so it's unique that way. It's basically half of it is monetary or investment demand and then the other half is industrial. And both of those drivers are really strong right now. They kind of tend to take turns a little bit, but they're both very supportive. So frankly, I do think that it's still a little bit low. Something fairer probably needs to be closer to about 80, 85. So I think we're heading there this year.
Mike Maharrey: That sounds very reasonable.
Peter Krauth: Typically Canadian, right?
Mike Maharrey: Yeah, absolutely. No, but I think you're right. I mean, I think given where we are, that's a pretty good analysis. You mentioned the fact that this time last year we weren't even to $50 yet, and that's pretty amazing when you think about that. And $50 was this unattainable goal for so long. We were all like, oh. I mean, I think a lot of people though, well, we'll never sustain any kind of price above 50. But here we are, we're well above 50 and we've tested that floor a few times over the last few months. Do you think that $50 is kind of the new floor now? Do you anticipate, I mean, I know we don't have a crystal ball, things can happen, but just given the general trajectory of things, do you see sub $50 silver again?
Peter Krauth: I don't. I don't. I think that generally, I think 50 is a new floor. And given the action this summer, if that holds, we've seen it really test 55. That's very bullish. I think that we've not even gone back to the previous all-time high as now a new low. We've been like 10% above that. So frankly, it's I think very encouraging, very reassuring. And I think that you'll always have your doubters and haters, but I think that it's probably causing a lot of them to rethink their thesis about where silver is going because many of them said 50 is never happening. And I can understand it took 45 years, but to their credit, that was a very long time. But if you understood the setup going back four or five years or so in particular, then it was all pointing very bullish.
And so yeah, I think other than, like you say, some sort of major black swan, I don't see it going back below 50. Absolutely, I think a very strong new floor. I'm not a huge guy on the technical side, but it's got its importance because many people follow technical analysis and I think that it's valuable for that reason and many others.
I think that has set up very bullishly for the metal.
Mike Maharrey: Yeah, I agree completely. I've kind of grown to appreciate technical analysis more. I don't claim to really understand it. It's not my forte. I'm more of a macroeconomics guy. But when you look at it, the technical analysis is really just, it's charting trends, right? We know that history doesn't repeat, but it often rhymes. I know that's become a cliche now, but it's true. I think that technical analysis is capturing just the habits of people, right?
Peter Krauth: Exactly. Exactly. I feel that it's a great gauge of sentiment really is what it does is it tells you how people feel about an asset at a point in time and how that has evolved. And of course, it doesn't tell you what's coming, but if you look at past behavior and patterns certainly absolutely repeat. So, I think it's helpful to a degree on the predictive side, I do think, in terms of at least maybe not degree, but direction.
Mike Maharrey: Yeah. I like it the best when people can combine that technical analysis with good solid fundamental dynamics. So here's a question that we get a lot on social media, and this probably reflects a little bit of that negativity that's just out there in the minds of people who are interested in metals. But we hear that we've had multiple years of annual supply deficits. We hear that we're on track for another supply deficit for this year. People will see that, and anytime we talk about someone say, "Well, if there's this supply deficit, then why doesn't the price of silver reflect that? Why isn't it going up more?" How would you respond to that question or comment, I guess?
Peter Krauth: Well, what I can say is that if I go back a little over a couple of years, two and a half years, I was saying the same thing. Why is silver not responding more to these deficits? They had already been about three years in place and they were getting pretty severe. And what I realized at the time is that, and I got confirmation of that from other research groups shortly after, which is pretty reassuring, that the big consumers were going to. So what happens is in years when you have less demand than you have supply, you have oversupply. So the oversupply ends up, something happens to it. For the most part, it got shunted into the futures exchanges like the Comex, the Shanghai, the LBMA. And so you had surpluses in supply demand. Those got shunted into those exchanges. And as of about 2020 or 2021, when we started going into these annual deficits, what I figured was that, look, if the silver price is not moving and yet we're in deficit, the consumers, especially these big buyers of silvers for electronics and the ETFs, they've got to be getting it somewhere.
So, I figured, and especially when I started looking at the inventories in these exchanges, they were really starting to drop pretty dramatically from around early 2021 or so. So the inference was that they were basically being able to buy it from the exchanges. That meant they could buy it at prevailing prices. So if silver was at $20, let's say at the time, they could just go out, buy the silver at $20, and because it already existed, had been produced, they were not putting additional pressure on supply. Miners didn't have to try to bring more silver to the market. It was already there. They could just go and draw down on these supplies. I think that has pretty much played out, honestly, because these futures exchange inventories have really dropped pretty dramatically. The Comex actually had a run-up. I was just looking at that chart a few days ago.
It had a run up at the end of last year and then a huge drawdown as of September when we had that mania phase in silver. We are back to the lows that we were over the last several years. So, the inventories remain low, and I think that's helping to keep these elevated silver prices. It's interesting, you look at the Silver Institute's numbers that they put out in their annual survey in April of this year. What I found surprising, to be honest, is that they forecast that the deficit is shrinking. The year prior, it was somewhere around, I think, 150 million ounces of deficit. Last year was around 50, and then this year they're saying about 55 or so.
These are predictions, not last year's of course, but to be fair, you can interpret numbers different ways. And one of the things that they do is they do not include silver that goes into ETFs. They show it as a separate line item. I've gone back and I've created my own charts, including the silver that flows into ETFs. Now, I guess a little maybe preparation or explainer on this is that I've asked, why do you leave out silver that goes into ETFs? This gets bought. It's not technically available to market at that point. And they said, "Well, it's because it's not consumed and that can easily flow back to the market, et cetera." I haven't addressed this specifically with them, but if you look at the physical investment silver, so bars, coins, and so on, that is included in the deficit, and yet you could argue the same thing.
This is not consumed. I mean, perhaps some of it gets sold back and melted down, but for the most part, these coins and bars, if they're sold, the dealers will ultimately sell them back to someone else eventually. So I equate physical silver that goes into ETFs for this purpose at least to physical silver for investment, coins and bars, physical coins and bars. So if you include then, which I have in my own charts, the silver that flows into ETFs last year was a huge number, and the deficit was over 300 million ounces. If you include silver that flowed into ETFs, it was by far the largest single annual deficit in silver that we've ever had. As I say, there are different ways to look at these numbers. I feel that that's more fair. It's not perfect by any means because it is true that it can flow back to the market.
Perhaps some kind of a mix, and this all comes down to personal feelings and interpretations, but I think it's good to look at both sides of it. And this to me tells me that there's a lot more demand, an uptake for silver than we're getting the impression of.
A lot of silver that goes into ETFs, I can tell you at least historically, has been very sticky. In other words, people tend to buy that and sit on it. I don't know, maybe it's the silver bugs that. Of course, they'll buy a lot of physical silver. Some of them will also buy ETFs. Maybe it's their way to get their feet wet and get into the space, but it tends to be pretty sticky. They tend to not really sell that easily. And we've seen silver inventories really building again in the ETFs. So last year, as I say, was a record number. So I think that if you look at the numbers of the Silver Institute and you look at them without including the flow into ETFs, then you're not looking at the whole picture. It's not truly properly representative of what's happening in the silver market.
Mike Maharrey: Yeah, that's a really good point. I guess I didn't really realize that they didn't include the. That doesn't make sense to me from their perspective, because as you say, if investment is pouring into the ETF, they have to have the silver. It's not like they can say, "Oh, silver demand's really high right now. Let's give back some of the silver." In fact, if demand is really strong, you're going to see more flows of silver going into the ETFs, not coming out.
Peter Krauth: That's a really, really good point. Very interesting.
Mike Maharrey: It's interesting how those dynamics play out. Speaking of dynamics, I want to talk a little bit about the physical offtake for industry. I believe we've talked before, and you focus more on the monetary side of it, but we do definitely need to consider some of these industrial demand as well. And so there's a lot of talk right now about silver in solar panels.
And on the optimistic side, I saw an article today that said Africa's adoption of solar panels is expected to rise by 45% this year. So, that's a big demand for silver there when you're building out all of this solar. I know a little bit about this because my daughter worked for a company that was involved in solar in Africa, so she can attest to the fact that it's really growing because it's probably the cheapest way to provide power to a lot of places that are not ‘on the grid,’ so to speak.
Peter Krauth: Absolutely. And it makes a lot of sense if you think about it. I mean, it reminds me a lot of cellular service, mobile cellular service rolling out through places like Africa. Africa is one example. You've got whatever, other places that are a third world or less developed. It made sense that that was the ultimate way, because you don't have to have cables running everywhere. It's a really good analog, I think, for energy, so for electricity, because you don't have to connect to the grid. You have to connect to your solar panel to get your power, and you're self-sufficient with that panel. It's fantastic. The infrastructure is minimal, and your setup time and your setup cost, and it's gotten to the point where there's so much production of solar panels that it is the cheapest form of additional new energy, and not just for individuals, but also even for utilities.
It's the cheapest form of incremental energy for them to supply. Earlier this year, I came across some really fascinating research. It's by a group called Ember. They do energy research, and they were comparing two scenarios. They said, "Let's say you have a hundred million dollars and you need to generate one and a half terawatts of power for a year." So they compared these two options. $100 million, you could buy natural gas with that, and with that, you generate your one and a half terawatts of energy for a year. The same hundred million dollars will generate one and a half terawatts of energy from solar, but those solar panels, you get to keep them and use them for 25 years. So you're getting 25 years out of the same amount of energy for that same one-time cost. The math is obvious. Now, it's true that if your existing plant runs on natural gas, you've got this big investment already, capital investment made.
But as countries and utilities and all sorts of consumers, big data centers, for example, look forward, you can bet that solar is up there on their list. We can talk about some things that have been making solar a lot more attractive too very quickly. There's some great things developing.
Mike Maharrey: Well, let's kind of look at the downside from a silver investor standpoint though. There's a lot of talk right now about substitution, and I get various takes on that. Some folks will say, “Overstated! It's expensive to make the transition. Copper or other substitute materials just aren't as efficient. It's not going to last as long. This is an overblown thing.” Other people I hear saying, "Oh no, the substitution is going on. It's going to be significant. It's going to have a pretty big dent on demand." What's your take on the substitution factor of it? And then second part of the question is, do you see additional demand building in other areas, say AI, that could offset the decline in solar use?
Peter Krauth: Definitely. So I'm in the first camp with. I'm going to qualify that and I'm going to say that I do watch and I have, let's say, some concern as to a switch to a different technology and copper, for example, that could dent the demand for solar or sorry, for silver to manufacture solar panels. But I do think that generally it is overblown. I'm going to kind of wait it out and see it. I need to see it until I totally believe it. I've seen in red reports too that you've got these four big solar panel manufacturers that are all in China and that they're going to be switching over to copper. But one, copper is not as efficient. Copper is corroding, and this is a huge capital investment for these companies. They have to totally retool and they have to shut down for months at a time.
So, I'm not convinced this is happening overnight. And even if it does, people are buying solar panels not because they want them to last three or four or five years, because they want them to last 10 and 20 years.
So far, from what I've seen, the technologies are the most efficient in silver and the newest technologies in solar panels, in fact, require even more silver than we've been using so far. So all of this stuff kind of counterbalances. Again, I need to see it play out before I have conviction that that's really going to dent demand for solar. Then you've got all kinds of things that started happening earlier this year when the states went and started bombing Iran that cut off 20% of the world's oil supply that affected all kinds of derivatives of oil. It's not just oil, so then gasoline, heating oil, chemicals that derive from oil, all of this. So you can bet that a lot, and I've seen it. There's some anecdotally, we might have talked about this before, but earlier this year, the largest utility or electricity provider in the UK called Octopus Energy, they saw uptake of solar panels because they also sell solar panels.
Sales shot up 50% in February and in March. I mean, I'm looking right now at some charts I have on imports and exports in China. So, imports in March of silver were the highest ever by, I think a factor of two. It had essentially doubled month over month over the highest months ever previously. Then you have exports of solar panels from China in those months. In March of 2026, 50 countries bought record quantities of solar panels from China. So, this is the other side of it, right? And of course they were likely not that cheap because silver prices had gone up. I don't know if they built the silver price into those solar panel prices or if those panels had already been manufactured at lower silver costs. That may have been one thing. They may have managed to keep the prices low and they may actually even absorb some of those higher silver prices for a while.
But there are so many arguments for solar using silver. Look, we'll see how the technology plays out, but if we just say talk about solar itself, whichever way you're generating it, data centers are absolutely a big source of new demand. EVs, in fact, Octopus is involved in EVs as well, and they've said that the demand for EVs just took off when clients saw that gasoline prices had shot up. They're saying, "Wow, heating oil, they're looking at solar instead of furnaces or oil furnaces." People shifted and adjusted very quickly. And as you can imagine, this is not an optional purchase. This is electricity and fuel to heat your home. So you're basically saying, "I'll pay whatever price. I just need the source of energy." So people will shift very quickly. They will almost not care about price. And I've said also at the beginning of this year, when you have 20% of oil supply get cut off from one day to the next, you can bet that there are a lot of manufacturing companies, there are a lot of sovereigns that went around and quickly said, "Oh my goodness, I can't deal with this.
I need to onshore, friendshore, reshore. I need to look at who else is a reliable source of oil, other options. If nothing else, even if this, let's say, demand doesn't shift to things like solar, but just to suppliers of oil that they feel are more reliable, you can bet that they're willing to renegotiate contracts and say," Okay, I need certainty. I want a five-year deal, and I don't care if I'm paying 10% more, but I'm getting that oil." So, if nothing else, that is at very least very inflationary and very supportive for silver. Again, even if that energy does not even go into something like solar or other things that consume silver, it's very bullish for silver either way.
Mike Maharrey: Yeah. I think you make a couple of really good points there. First off, the reliability factor. Yeah, I might pay a little bit more, but then I have – I know the sun's not going anywhere, and if the sun does go somewhere, we're in a lot bigger trouble than energy.
Peter Krauth: Exactly.
Mike Maharrey: And the durability, I hadn't really thought about that, but that's a big factor. We have solar panels on our house, and when we had our roof replaced, we had to have the solar panels removed. That's not something you want to do on a regular basis. I don't want to have to change out my solar panels every five or six years. I want to know that that's going to last up there. So some really good points.
All right, I want to get you out on just a fun question. And if you don't have an answer for this, that's fine, but I thought I would ask anyway because it's kind of fun. So, all kinds of very interesting applications for silver. The Silver Institute every other month puts out their silver newsletter, and there's always these new things that are coming out in medical, energy production, all of these crazy things that you can do with silver.
Is there an application for silver that you find just particularly interesting and fascinating?
Peter Krauth: I'm going to say this is not something new. Well, maybe I can address that in two ways. One is the medical applications for me fascinate me because I think really people do not realize how helpful and useful silver can be. It's what we call a biocide, so it kills germs and bacteria, and they do not grow accustomed to it, so it's constantly effective. And so you find it in things like they'll have nanoparticles of silver in cornea replacements to avoid people getting infections. To me, that's mind-blowing to think that they do things like that. The other side of it is on the technology side. We've talked about AI.
We know that silver is the most conductive, both of electricity and of heat. And if you're building out AI and data centers, trust me, you want your equipment to be reliable. So silver finds its way into the processors, it finds its way into the switching gears, it finds its way into a whole host of equipment that you have in the servers and so on in these data centers because they can't afford for the stuff to go down. It's just too costly. I'm not that well versed in the technical side of it, but I have seen on. There's a fantastic website called Mining Visuals, and I really like their work. They do these great infographics of applications for silver, but it goes well beyond that. It's all mining related, and there's some tremendous stuff there, and they do actually drill down into the applications in AI and in data centers and so on.
But that to me, I think that even if we see, for example, a plateauing of demand in solar, I think that the uptake will be made up by EVs. It'll be made up by data centers and AI very, very easily. All that to say, I'm not concerned about overall demand for silver. There are just so many applications. It'll stay very robust.
Mike Maharrey: Yeah. I'm fascinated with the medical stuff as well. Silver's all over operating rooms and stuff. It's kind of cool. It's basically money that kills germs.
Peter Krauth: That's right. I like that.
Mike Maharrey: Maybe Silver Institute can use that. I'll try to sell that to the Silver Institute and let them market that.
Peter Krauth: You should trademark that. Yeah, I like that. That's great.
Mike Maharrey: All right. Well, before I go, I do want to let you tell folks where they can find you in your work, where they can find the Silver Stock Investor Newsletter. And I heard from a little birdie, you guys have something in the works for this year that will be a first, and I'm kind of excited about that. Share with us all of those things.
Peter Krauth: You bet. Thanks, Mike. I guess the one best place to go is thegoldadvisor.com. I'm teamed up with Jeff Clark. We both have a couple of newsletters there. You can see all our work through that portal. That's the fastest and easiest way to see our research. As I've talked about a couple of times, and you've mentioned my book, The Great Silver Bull, if you want an introduction to the silver space, both Silver itself and how to invest in it and in the mining stocks for Silver, that's an easy way to gain a lot of knowledge and introduction. I'm very active both on X and on LinkedIn. You can find me there. And as you mentioned, we have an inaugural investment summit that will take place in Vancouver on November 5th. It's called the Gold Advisor Investor Summit, and we are launching our own mining summit, Mining Investment Summit.
We'll talk about all of the metal Gold, silver, copper, lithium, uranium. And that's a one-day event. We are really excited about it. We're going to have a few dozen companies there. And if anybody's in the Vancouver area around that time, this is a free event to attend and we'd love to see you there. So look up the Gold Advisor Investor Summit. You can find information about that on our website as well.
Mike Maharrey: Very, very cool. I'm excited about that. Glad you guys are doing that. That'll be great. And I want to urge folks, I do this every time you're on and I brag on this book, but the silver book that you've written is absolutely fantastic. And it's almost like a handbook for silver investing. What I love about it is you don't have to read through it cover to cover. It's in very nice sections. I really love the book.
Peter Krauth: That's great. I really appreciate that, Mike. And that's the kind of feedback I've gotten a lot, both from people who are kind of new to the space and all the way up to fund managers who've told me, "Hey, this is like a reference guide. I keep this on my desk." That's very rewarding and I appreciate that.
Mike Maharrey: Yeah. Fantastic work. Well, thank you so much for taking a little time out of your day to hang out with me. I really appreciate it. We're going to have Jeff on in October, so he can plug the conference again. So we'll be excited.
Peter Krauth: Who's that behind you? I've got to ask. Who's that behind you?
Mike Maharrey: So folks, this is not video, but if folks could see, I literally have a cat right above my head, that's Charlie. The other cat that I have would be attacking the cord on my earphones, so he's much less intrusive than the other one. But anyway, thank you so much, sir. Thanks for being on and we'll have you back on, I'm sure in the near future. And until then, happy investing.
Peter Krauth: Thank you, Mike. Same to you.
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Always love getting the insights of our friend Peter Krauth and another wonderful interview there.
Well, that will do it for this week. Be sure to check back next Friday for our next Weekly Market Wrap Podcast. Check out the Money Metals Midweek Memo podcast as well. To listen to any of our audio programs just go to MoneyMetals.com/podcasts or find them on places like Apple Podcast, Spotify or other podcast platforms. And as a big help to us we would ask you to please like, subscribe, download and rate our podcasts. Doing so helps us extend the reach of this material.
Until next time, this has been Mike Gleason with Money Metals Exchange, thanks for listening and have a wonderful weekend everybody.

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