The Fed Takes Serious Action In Our Banks

GOLD

Many of the largest countries in the world are carefully looking at the liquidity of their largest banking institutions. Concerns about a major bank having liquidity problems has taken priority. In the U.S. the failure of three banks (Silvergate Corporation, Silicon Valley bank, and Signature Bank) as caused the Fed to take serious action. The Fed has injected $2 Trillion into the economy with a new bank backstop program.

During this period, Gold has become very popular, as the Gold price moves over $1,900 per ounce. The Gold price has traded between $1,913 and $1,934 today, as it builds a firm base above the key $1,900 support level. At 11am PT today, Gold is trading down $8, at $1,918 per ounce on good volume.

SILVER

Silver has had a wider trading range today, trading between $21.47 and $22.18 per ounce. Many of the popular Silver investment coins are showing strong demand and premium are likely to increase. At 11am PT, today, Silver is trading at $21.66 per ounce, down $0.24 on active volume.