Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
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Silver followed gold’s lead during this charged week of presidential election results in the U.S. Monday’s silver price was down to $18.20 per ounce after Hillary Clinton was cleared of any potential allegations related to her use of a private email server. The dollar rose, putting pressure on precious metals.
Once it was clear that Trump had won the election, silver prices spiked to a six-week high before crashing down again. Stronger bond yields and a robust dollar pushed silver down; it also became clear that the Fed may have to implement more aggressive rate hikes under a Trump presidency, which is expected to feature rising inflation and more aggressive fiscal policy.
Silver prices closed the week around $17.20 per ounce, following in gold’s footsteps for an unexpected loss. The risk-on appetite in the market pulled investors away from safe haven precious metals.