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Vince Lanci: Gold, Silver Sell Off After Hitting Highs For 2023

April 18, 2023

Following the collapse of Silicon Valley Bank, gold and silver rallied to their highs of the year, as investors have been concerned about the banking system, and have increasingly turned to the precious metals to keep their money safe.

The rally saw gold trade as high as $2,060, and silver top the $26 mark. Yet in the past few session there's been a sell-off that's left the prices lower, with gold back down to $2,000, and silver trading at $25.

There has been some positive economic data this morning, leading to a rally in the dollar index, that has increased the probability of another Federal Reserve interest rate hike at its May meeting in a few weeks. But does that mean the rally in the metals is over?

Today Vince Lanci joins me back on the show to talk about the recent price action in the metals, what's causing it, and what to expect in the weeks and months going forward. He comments on the silver inventories in London and New York, the IMF's new digital currency plans, and also takes your questions.

Arcadia Economics

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