The sudden collapse of the Silicon Valley bank sent shockwaves throughout the financial sector and was the biggest banking collapse since the 2008 financial crisis. As the only publicly traded bank focused on Silicon Valley and startups for four decades, the rapid collapse particularly shocked the venture capital community and left climate technology startups in crisis.
The banking crisis hit the energy markets and oil prices fell. WTI fell from $80.46 a barrel in just 10 days to $67, while Brent slipped from $86.18 a barrel to $73, levels they last reached in December 2021.
According to commodity analysts at Standard Chartered, a multinational corporation, the fall in black gold prices is due to the sale of oil capital by banks. According to a study by commodity experts Standard Chartered, the withdrawal of capital from the oil sector is combined with an increase in funds invested in precious metals – gold and silver, i.e. oil money invested in precious metals.
At the same time, gold prices have jumped by almost 9% since March 10 and are now at $1,995 per ounce, which is not far from the all-time high, while silver prices have soared by more than 16% and are trading at $23.35 per ounce. .