welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at our top stories for the week gold and silver prices were on the move this week with the former hitting 2350 per ounce on May 9th and the ladder breaking the $28 per ounce Mark marker participants continue to digest the US Federal Reserve decision to leave interest rates unchanged and a recent Gallup poll shows that persistent inflation is affecting the Public's faith in Cher Jerome Powell all 39% of


us adults have a great deal or a fair amount of confidence that he will do the right thing for the economy that's up only 3% from a year ago confidence in Powell is much higher among Democrats than Republicans at 56% versus 30% across the pond all eyes were on the bank of England which like the FED held interest rates steady at its latest meeting however officials seem relatively confident that inflation is being rained in with rate cuts possible in June CME group's fed watch tool shows


that the FED is expected to leave rates unchanged at its June and July meetings with a 50.3% likelihood of a cut in September the next Consumer Price Index reading is due out on May 15th South Koreans are eager to get their hands on gold and retailers are delivering since April the country's largest convenience store chain has been selling miniature gold bars weighing between 0.1 and 1.87 G and they're flying off the shelves 1 G bar is reportedly sold out within 2 days with people in their 30s being strong buyers


another chain is even selling gold Wafers from vending machines if you've been following gold demand Trends this story out of South Korea will likely sound familiar it's similar to the gold beans Trend that swept China earlier this year and it's also in the same vein as Costco's foray into gold sales while the experts I've spoken with have emphas Iz that buying gold in such small denominations generally isn't cost effective they've been encouraged to see wider demographics taken interest in the


metal argentum exploration a company owned by GB news investor Sir Paul Marshall has lost a legal battle with South Africa over 42 million worth of salvaged silver back in 2017 argentum recovered the silver from a World War II era shipwreck in the Indian Ocean it launched a claim for Salvage but South Africa said it was the rightful owner the metal was sold to the country by India for use in South African and Egyptian coins although South Africa didn't ask argentum to retrieve the metal several courts have now ruled


against argentum making South Africa immune to its Salvage claim I'll leave the links to these stories in the video description if you'd like to learn more that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time [Music]