Gold and silver continued to rally last week, with silver again finishing above the $23 mark, while gold closed the week close to $1800. After a chaotic and volatile year for the precious metals in 2022 comes as welcome news for most gold and silver investors.
One of the reasons for the moves is that we are in the middle of investment allocation season as we head into 2023, which Vince Lanci of Goldfix Substack talks about in today’s call. He describes how the banks are positioning their clients ahead of 2023, and how that’s impacting gold and silver.
Vince also talks about the latest #ZoltanPoszar piece, in which Poszar comments about how Russia could respond to the G7’s oil price cap with a move to accept gold as payment in exchange for oil. This especially amidst the recent news of Ghana using gold as payment for its energy would be a significant step forward for the premise of gold again being more widely used as a settlement mechanism.
So to find out more about the latest developments in the gold and silver markets, click to watch this interview with Vince Lanci now!