Banking Crisis Boosts Demand for Physical Gold & Silver, Straining Supplies | The Gold Spot
Gold and silver demand are skyrocketing as central banks, major institutions, and retail investors seek shelter from the economic storm that's been brewing for years.
Just this week, the banking crisis claimed another victim as First Republic Bank collapsed. Not long after, PacWest (and now Western Alliance, Arizona-based bank) saw its shares slashed after troubles were revealed.
While banking conditions worsen the precious metals market suffers from surging gold and silver demand. Local precious metals dealers and global exchanges are struggling to keep up.
Producers are pumping the brakes on creating new products while spot gold and silver prices remain low. All it would take is a single economic emergency to dry out reserves completely.
The economy is getting hit from multiple angles, but de-dollarization is the biggest threat right now. The dollar’s position as the world reserve currency is under assault.
This lack of confidence in the #dollar is driving investors across the globe away from traditional assets and into hard assets such as gold bullion and silver bullion.
Adding to the chaos, major players are keeping the gold prices and silver prices artificially low through continuous selling.
However, the severe lack of supply will eventually force these institutions to buy back the shorts. This is bullish news for gold and silver prices.
Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Sr Advisor Steve Rand & Precious Metals Advisor Tim Murphy explain the supply gold and silver shortage and how it could lead to a gold and silvers queeze .
🔗 RELATED LINKS:
👉 Read more here – Silver Shortage 2023? Why Global Silver Demand is Outpacing Supply: https://www.sbcgold.com/blog/silver-shortage-2023-why-global-silver-demand-is-outpacing-supply/
🪙 Why Silver Eagles Are So Expensive Right Now & Better Buys: https://www.sbcgold.com/blog/why-silver-eagles-are-so-expensive-right-now-better-buys/
📈 See live Gold and Silver Spot Prices:
https://www.sbcgold.com/charts/
🪙 Buy gold and silver coins in Arizona:
https://www.sbcgold.com/buy-gold-and-silver/coins/
👉 Buy Silver Bullion Bars:
https://www.sbcgold.com/buy-gold-and-silver/buy-silver-bars/
👉 Buy Gold Bullion Bars:
https://www.sbcgold.com/buy-gold-and-silver/buy-gold-bars/
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