Skip to Content
Back to Blog
Metals Minute 182

Game-Changing Gold Exchange: Your Wealth's New Frontier!

March 30, 2023777 view(s)

Gold is up a fraction this week to $1976.40, with silver up for the third week in a row, climbing 2% to $23.63. Platinum is down 2% to $983.14, and palladium is down 1% to $1,481.

From a year ago today, gold is up 3%, silver is down 5%, platinum is down 1%, and palladium is off 31%.

The US Mint reported that 1oz Gold Eagle sales in March topped January and February sales combined, with increased demand for physical metal in the marketplace. 1oz Silver Eagle sales remain strong as well, totaling over 5 million ounces so far in 2023.

Japan has opened a new precious metals trading exchange specializing in small lot sizes favored by individual investors. Gold can be traded with contracts representing 10 grams, approximately 1/3 of an ounce of gold.  The exchange has its roots in rice trading, which began in the 1600s.

The Federal Reserve has abolished the reserve requirements for banks, which means they no longer have to hold a percentage of deposits in cash.  This comes at a time of heightened bank borrowing from the Fed, indicating many banks' precarious liquidity position.  For wary savers, bank troubles and ramped-up Gold Eagle sales go hand in hand.

Posting in:
Bill StackbyBill Stack
This site uses cookies to improve your experience. By clicking, you agree to our Privacy Policy.