Andy Schectman: Silver Buyers Want Out of Banking System

One week into 2023, the #silverprice has been relatively flat, and the sales volume has been subdued relative to 2022. As a result, the premiums remain on the low side compared to what we’ve seen over the past few months.

Yet when compared to prior years, there’s still decent sales volume, especially on the silver side, as many of the customers who are buying are expressing continued concern about leaving their money in the banking system.

Because while the Fed has been raising interest rates, the traditional safe havens of cash and US treasuries are still offering negative real yields after factoring in the elevated inflation rate. Which doesn’t leave investors with easy decisions, especially as they watch the stock market struggle under the weight of the higher interest rates.

Andy Schectman of precious metals dealer Miles Franklin discusses these developments and more in this week’s physical silver report. And to stay abreast of the latest developments in the retail silver market, click to watch this video now!