Spot silver is trading around $26 per ounce…but you can t buy any at that price.
Instead, you ll have to pay almost 50% more.
That s right. If you want silver right now, you ll need to pay at least $35 per ounce.
If you prefer government mint coins, and you re willing to wait a month to get them, you ll have to pay upwards of $37 per 1 oz coin.
In the past year, premiums on physical silver have tripled from normal levels. Bullion dealers have been overwhelmed. Product shortages are now commonplace, with customers waiting 3 weeks or longer for shipping.
The silver market has rarely, if ever, experienced anything like this. Demand has not only soared; it has maintained these elevated levels.
Silver’s Selloff Accelerates With Reddit Frenzy Unraveling
Bloomberg 2/2/2021
(Bloomberg) The buying frenzy that sent silver to an eight-year high has stalled out.
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Silver futures in New York fell as much as 10% as traders closed out positions after CME Group hiked margin requirements. Meanwhile, Reddit posters turned their attention to GameStop Corp. losses amid a growing backlash against the silver trade. BlackRock Inc.’s iShares Silver Trust, the short-squeeze target of retail traders on Reddit last week, slumped more than 8%.
The silver market was roiled in the past week after a series of posts on the WallStreetBets forum calling for a “short squeeze.” iShares Silver Trust had a combined net inflow of $1.5 billion on Friday and Monday, silver options trading surged and prices swung dramatically before spiking to the highest since 2013. By Tuesday, plunging shares of GameStop and AMC Entertainment Holdings Inc., two of the popular trades with Redd
Silver’s Selloff Accelerates With Reddit Frenzy Unraveling
Bloomberg 2/2/2021
(Bloomberg) The buying frenzy that sent silver to an eight-year high has stalled out.
Popular Searches
Silver futures in New York fell as much as 10% as traders closed out positions after CME Group hiked margin requirements. Meanwhile, Reddit posters turned their attention to GameStop Corp. losses amid a growing backlash against the silver trade. BlackRock Inc.’s iShares Silver Trust, the short-squeeze target of retail traders on Reddit last week, slumped more than 8%.
The silver market was roiled in the past week after a series of posts on the WallStreetBets forum calling for a “short squeeze.” iShares Silver Trust had a combined net inflow of $1.5 billion on Friday and Monday, silver options trading surged and prices swung dramatically before spiking to the highest since 2013. By Tuesday, plunging shares of GameStop and AMC Entertainment Holdings Inc., two of the popular trades with Redd