Bank Failure Second Largest in US History | Gold Silver Update

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Silicon Valley Bank (SBV) is the 2nd largest US Bank failure in history
At the end of Q4 2022, just 2.7% of Silicon Valley Bank's deposits were FDIC insured
Bank's stock price started 2022 near $700 a share, now worthless
More large-volume gold bullion buying data updates by Singapore, China, and other eastern central banks thus far in 2023

We had a slightly mixed week of trading for the respective two precious monetary metals.

The spot silver price rallied to close the week just over the $20.50 oz bid.

Today's spot gold price climbed on the bank trouble news, climbing near a $1,870 oz bid to finish this week's trading action.

The spot gold-silver ratio climbed a bit on gold' relative strength closing at 91 for the week.

Late last year, in 2022, we covered concerning video clips from an FDIC meeting on bank bail-ins.

Of course, we will continue to monitor and report on future fallouts from this significant event in future SD Bullion Market Updates.

In the meantime, price premiums have slimmed, and inventory levels on prudent bullion product options remain robust for now.

That is all for this week's SD Bullion Market Update.

As always, to you out there.

Take great care of yourselves and those you love.