It was a difficult week for gold and silver investors coming out of the 4th of July holiday, as the metal prices dropped along with the stock market on increasing recession fears.
Although despite the falling COMEX futures prices for the metals, gold and silver dealer Andy Schectman of Miles Franklin reports that customers were still buying physical metal. With most wanting to take advantage of the lower prices, which has also resulted in the lowest silver premiums for many products in almost 2 years.
Perhaps the biggest factor dictating the market pricing, is that many investors are just confused right now, and unsure of how to respond to the Fed’s interest rate hikes. Even Jerome Powell recently admitted that he understands how little he understands about inflation, and it’s not surprising that there’s little consensus about what actually happens next.
But to find out how precious metals investors are responding, what’s going on with the physical market order flow, and the latest news about silver premiums, click to watch this video now!