It’s been a volatile few days in the gold and #silver pricing following last week’s Federal Reserve policy meeting and rate hike. The metals traded higher following the announcement and Jerome Powell’s press conference, before getting hammered lower the following morning. Then there was another spike higher on Monday of this week, before seeing the price plummet again on Tuesday.
All of which is in some ways not entirely surprising given the less-than-clear messages given by the Fed. Because while the markets were wanting to hear that the rate hikes are over and that the July hike would be the last one, Powell and the Fed again refused to say as much. Perhaps because they remain in a situation with no easy answers or solutions, with prices still rising faster than their 2% mandate. And in today’s call with Andy Schectman of Miles Franklin, we discuss the dynamics the Fed is facing, and why continuing to raise interest rates also comes with its own set of challenges.
In addition to talking about the Fed, Andy provides an update regarding the BRICS and the possibility of them announcing a gold-backed currency, after listening to Jim Rickards speak at a conference last week. Andy also addresses the news of the US Mint increasing its silver eagle production, and talks about the latest developments with the silver premiums.
So to stay up to date on the latest news in the silver space, click to watch this video now!