For those who like seeing volatility in the financial markets, this has been your week!
The carnage in the bond market has continued, with the yield on the US 10-year note reaching 4.79%, while silver futures are down to $21.35, and gold has settled at $1,840. The Dow Jones is now in negative territory on the year, and while the S&P and Nasdaq are still in positive territory, they are both now significantly lower than their peaks in July.
The spike in interest rates, which has accelerated over the past month in particular, has dominated the markets and left risk assets lower. And with inflation metrics rising over the past month while the Fed is still indicating another rate hike is yet to come, the pain in the bond market may not yet be over.
So in today’s show with Andy Schectman of Miles Franklin, we take a look at how investors are responding in the physical silver market, and also get an update on the latest movement in the premiums. Andy reports that there’s still physical silver buying, as many of his clients continue to add to positions on the move lower in price.
He also talks about the latest moves in the bond markets and the pressure that’s putting on a banking sector that’s already experienced issues throughout 2023. So to find out more about the latest trading action that’s affecting the silver market, click to watch this video now!