Thoughtful Money with Adam Taggart Gold & Silver About To Rally Higher Again? | Andy Schectman
6 snips
Feb 23, 2026 
Andy Schectman, a longtime precious metals dealer and commentator, shares his take on gold and silver market dynamics. He explains Shanghai premiums and China’s strategic buying. He walks through massive COMEX deliveries, where withdrawn metal may be going, and how margin moves and forced liquidations shape prices. He also covers practical buying, tax rules, and junk silver opportunities.
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China's Long Game Is To Own Physical Commodities
- China is hoarding domestically mined silver and refining capacity to secure resources irrespective of short-term economics.
- Andy links this to long-term strategy like Belt and Road and BRICS coordination that exploits Western paper-price distortions.
Late Month Gold Open Interest Flags Delivery Risk
- February COMEX gold open interest showed 4,366 contracts still open late in the month, an unusually high 13.5 tons undelivered.
- Andy interprets this as a short who sold gold they didn't have and could become a liquidity squeeze when confidence shifts.
More Silver Left COMEX Than Official Deliveries Show
- COMEX February withdrawals exceeded February deliveries by ~64%, meaning far more metal left vaults than paperwork indicated.
- Andy highlights 38 million ounces physically removed versus 23 million ounces that stood for delivery, implying large hidden accumulations.
