Andy Schectman: Junk Silver Supply Remains Tight
Arcadia Economics, Released on 5/23/23
In the last few weeks the silver premium levels have been slightly lower, as a sense of calm has returned to the markets following 2 months of chaos in the banking sector. Yet the supply of junk silver remains tight following the surge in demand caused by the recent bank failures. Junk silver is a unique market, in that there's not any more being made, and therefore not a steady stream of new product coming back on the market. Then factor in that it remains a popular product by many silver investors due to its unique properties, and as a result, it's not easy for dealers to continue to find it in large quantities. So in this week's physical silver market report, Andy Schectman of Miles Franklin talks about the junk silver market, as well as the general premium levels in the silver market. He also talks about the latest news ahead of the debt ceiling, how he thinks the situation in the silver market ultimately involves, and some of the other news affecting the silver market.
Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals.
Chris Marcus worked 2 years at bond rating agency Moody's, has an MBA from Wharton, and also worked 7 years as an equity options trader for Susquehanna International Group on the American and New York Stock Exchanges, before leaving in 2012 to create Arcadia Economics. In addition to publishing Arcadia's Monthly Market Snapshot, he also currently writes market commentary for gold and silver dealer Miles Franklin, Investing.com, and several others.
Andy Schectman: Junk Silver Supply Remains Tight added by Herman James on 05/21/2023View all posts by Herman James ?+'