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The silver market is showing signs of serious stress. For the first time in years, we’ve seen confirmed backwardation across all major exchanges—COMEX, LBMA, and Shanghai. In this video, we break down what backwardation means, why it’s happening now, and whether this signals a structural shift in silver pricing. Years of underinvestment, industrial demand from sectors like solar and EVs, and declining inventories have created the conditions for major disruption. Is the physical market finally asserting control over the paper price? Subscribe for more grounded analysis on precious metals—and don’t forget to share if you find this video valuable. #apmex #gold #silver #preciousmetals Visit the Knowledge Center at https://learn.apmex.com to learn all about precious metals, with free content for beginners and experts. Browse on APMEX: Gold Bullion ► https://www.apmex.com/category/10000/... Silver Bullion ► https://www.apmex.com/category/20000/... Gold & Silver Prices► https://www.apmex.com/gold-and-silver... APMEX® App► https://www.apmex.com/the-apmex-app This video is for informational and educational purposes only. It is not financial advice, investment advice, or a recommendation to buy or sell any asset. The views expressed are opinions only and should not be relied upon for financial decisions. Always do your own research and consult with a licensed financial professional before making investment choices.