Silver Price Faces Pain Before Massive Rally, Says Veteran Miner – Here’s His Outlook

A veteran silver miner sat down with Wall Street Bullion, a YouTube channel with over 103,000 subscribers, to deliver a big warning. Silver prices will likely fall further in the coming weeks. But that pain, he says, sets the stage for a historic bull run.

Glenn Jessom is president and CEO of Silver Tiger Metals. His group has spent 30 years building silver mines in Mexico. They have built three large mines and sold three more to major companies, including one to Kinross. He knows the silver market from the ground up.

Jessom said his team never thought they would see $50 silver again. They planned their newest mine around $25 or $30 prices. Then the world changed.

He pointed to two key moments. In September, the U.S. government classified silver as a critical mineral. Then on January 1 of this year, China put an export ban on silver, treating it like rare earth minerals. Jessom said that woke him up. Silver became a weapon in the geopolitical battle between the two largest economies.

That shift, combined with the ongoing supply deficit the market has faced for six or seven years, drove silver up to $120 earlier this year. Now prices have pulled back to around $70.

Jessom said the current decline comes from Middle East turmoil. The Strait of Hormuz closure spiked oil prices and created uncertainty. Markets are flushing. Liquidity is pulling out. He expects more downside.

He said it could take one month, two months, or three months. The bottom is not in yet.

But here is where his outlook turns. Jessom told investors to study 1973. That year, similar conditions emerged. Geopolitical shocks, energy crises, and a Federal Reserve trapped between inflation and recession. Stagflation set in. Gold and silver bottomed, then ran for years. From 1973 to 1979, a portfolio in precious metals turned $10,000 into $233,000.

Jessom said the same setup is happening now. The Federal Reserve is stuck. Oil prices are climbing. Inflation is ripping. The economy is heading toward recession. The Fed needs to cut rates but cannot because inflation forces their hand. That is stagflation, and it is the perfect environment for a long gold and silver bull run.

He cited major investors like Druckenmiller and analysts at J.P. Morgan, who still have a gold price target of $6,300 by year end. Jessom said those are smart people saying the same thing.

When asked about higher oil prices hurting miners, Jessom acknowledged the impact. Energy costs will go up across the board. But he said Silver Tiger Metals is building a low-cost mine called El Tigre in Mexico. The project is fully funded with $100 million in the bank. The company announced its first pour target for December 2027. Jessom said higher energy costs will not materially hurt their returns.

He explained how rare it is to get to this stage. One in one thousand exploration companies ever become a commercial mine. It takes 17 years on average. Silver Tiger did it in less than 10. By the end of 2027, there will be 38 primary silver mines left on the planet. Silver Tiger will be number 39.

Jessom closed with a simple message. The pain is coming. Prices will go lower. But after that bottom, the final stage of a long bull run for precious metals begins. He told viewers to study 1973. History, he said, shows exactly what comes next.

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