Andy Schectman: Silver Premiums Low As Banks Get Downgraded Again

August 23, 2023

The Federal Reserve's interest rate hikes created problems in the banking sector earlier this year, that led to the failure of some of the regional banks, and a surge in demand for physical gold and silver. And while the Fed suggests it was a one-off event caused by mismanagement of those banks' assets, some more of the regional banks were downgraded by S&P on Tuesday morning.

While there's been a calm in the market over the summer months, the uncertainty remains, as the markets continue to adjust to the higher rates and everything that comes along with that. And of course at the heart of it all is the health of the banks, which Andy Schectman talks about in this week's silver report.

Factor in that at the same time the banking sector is attempting to deal with the higher rates, the BRICS meeting in South Africa is beginning this week. Where the market is looking for resolution as to whether or not the BRICS are ready to offer any further guidance on their plans for a potential gold-linked payment mechanism that would facilitate non-dollar trade within the block. And as all of this is taking place, Andy talks about how people are responding in the physical gold and silver world.

So to find out the latest regarding the conditions in the precious metals world, click to watch this video now!

Arcadia Economics


The word ‘silver’ originates from the Old English Anglo-Saxon word 'seolfor'

Silver Phoenix Twitter                 Silver Phoenix on Facebook