- Silicon Valley Bank (SBV) is the 2nd largest US Bank failure in history
- At end of Q4 2022 just 2.7% of Silicon Valley Bank's deposits were FDIC insured
- The 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 silver spot price rallied a bit to close the week, just over $20.50 oz bid.
The gold spot price climbed on the bank trouble news today, climbing near $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.
Of course we will continue to monitor and report on future fallouts from this major event in future SD Bullion Market Updates to come.
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.
