Andy Schectman: Silver Premiums Steady Ahead Of Debt Ceiling Standoff

The US is getting closer to its latest #debtceiling deadline, and while logic suggests there will be a deal to raise the limit once again, the credit default swaps on US debt are pricing in a great deal of concern about the possibility of some type of default.

However, despite the concern in the market about that looming situation, in this week’s physical silver report with Andy Schectman of Miles Franklin, Andy reports that premiums on silver have remained steady over the past week. Premiums had escalated in recent months in response to the slew of bank failures, although in response to no additional episodes over the past week, the market has seemingly calmed again. And in this call, Andy talks about how silver customers are responding, as well as how he sees the situation playing out.

He also talks about the degree to which his customers are choosing gold vs. silver, and how that’s changed in recent months with all of the attention that’s been placed on the gold price being over $2,000 per ounce.

So to find out more about the latest developments affecting the physical silver market, click to watch this video now!