Silver has moved to multi-year highs at the same time Washington has confirmed an exemption from tariffs for gold bars, while offering no equivalent clarity for silver.
The result is less about headlines and more about market plumbing: where metal is held, how it is financed, and how closely paper hedges track physical costs.
In this GoldCore TV episode we set out, in plain terms:
• what the gold exemption versus the silence on silver means;
• how this is showing up in premiums, delivery times, and the New York–London basis;
• the policy paths from here and how each would affect spreads and availability;
• the key indicators to watch, especially for holders of physical metal.
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