Sprott Physical Gold $PHYS stock has done an intermediate-term downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... Breakout on March 10, 2023. The stock bounced off its lower uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... wall on March 9, 2023.
The Sprott Physical Gold Trust is an exchange-traded fund (ETF) that holds physical gold bullion as its primary asset. The trust offers investors a convenient and cost-effective way to invest in gold without the need to purchase and store physical gold. The trust’s shares are listed on the New York Stock Exchange (NYSE) and can be bought and sold like any other publicly traded security. The trust is managed by Sprott Asset Management, a leading alternative asset manager with over $13 billion in assets under management.
Flight to Safety: Gold
On the back of possible contagion risks from the Silicon Valley Bank (SVB) meltdown, the gold market unexpectedly posted a weekly gain.
Following Friday’s SVB collapse, investors are once again flocking to the precious metal as a haven investment. The largest bank failure since the financial crisis occurred when California banking regulators swiftly closed SVB Financial Group.
According to analysts, SVB was one of the top technology financiers, and its failure illustrates potential unintended effects of the Federal Reserve’s aggressive hiking cycle pursued in its fight against inflation. It is feared that the difficulties facing the startup-focused lender may spread to other international markets.
