Sustained High Price Levels

Silver continues to stay at very high price levels amidst the uncertainty in the banking sector. The metal price has stayed around the £20/oz ($25/oz) mark for the past month and above £15/oz since the pandemic of 2020.

The recent price hike is mainly attributed to the failure of three major US banks with the most recent collapse of First Republic on May Day causing a brief surge in the price to £20.60/oz, only to see it drop back again to the settled price range.  The seeming acceptance in the market for this latest failure is an indication of the troubled financial state of the world.

Wednesday’s expected interest rate increase by the Federal Reserve will be the next big test of where the markets head next...