Experts Hinting Gold May Be Entering A Bull Market That Could Last Over A Decade
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- FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., March 3, 2021 /PRNewswire/ One of the big topics for the gold mining corporations in 2021 has been the prospect of mergers and acquisitions. Analysts predict another round of consolidation for the industry in 2021, although they aren t looking for mega-mergers. Instead, they expect to see a continuation of the trend in 2020 that brought a larger number of smaller deals. In a recent report, Bank of America (BofA) analyst Michael Jalonen and team said they believe the pressure to replace reserves that have been mined will be one of the big drivers for mergers and acquisitions this year. They noted that gold reserves have been falling since 2012, while gold output has remained stable. The report in Investor Place said that: The BofA team doesn t expect to see mega-mergers in the mining space this year. Ins
Silver swept up by GameStop retail frenzy, prices soar
By Tom Westbrook and Thyagaraju Adinarayan
Reuters
SINGAPORE (Reuters) - Silver broke above $30 an ounce for the first time since 2013 on Monday as an army of retail traders stormed into the metal after betting billions of dollars on stocks last week, triggering risks of a multi-asset melt-up in global markets.
Organised in online forums and traded with fee-free brokers such as Robinhood, small-time investors have driven a 1,600% rally in the shares of video game retailer GameStop, scooping up assets big fund managers had bet against.
The phenomenon spilled over into silver late last week.
GameStop traders pour into silver, sending price to highest level since 2013
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Online discussions turned to silver late last week as Reddit posts suggested higher prices could hurt banks with large short positions.
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The price of silver surged above $US30 an ounce
for the first time since 2013, as an army of retail traders have stormed into the metal after betting billions of dollars on stocks last week.
Key points:
The small-time investors are scooping up assets big fund managers have bet against
They have already driven a 1,600 per cent rally in the shares of video game retailer GameStop
01 Feb 2021 / 19:27 H. Silver price leaps more than 11% to highest since 2013 Bullion dealers battling to satisfy demand Silver mining stocks surge in Australia, China (Adds views from analysts, background)
By Tom Westbrook and Thyagaraju Adinarayan
SINGAPORE, Feb 1 (Reuters) - Silver broke above $30 an ounce for the first time since 2013 on Monday as an army of retail traders stormed into the metal after betting billions of dollars on stocks last week, triggering risks of a multi-asset melt-up in global markets.
Organised in online forums and traded with fee-free brokers such as Robinhood, small-time investors have driven a 1,600% rally in the shares of video game retailer GameStop, scooping up assets big fund managers had bet against.
YouTube: Silver soars to eight-year high becoming the new GameStop - Reuters
SINGAPORE (Reuters) A social media-driven buying spree lifted silver to an eight-year high on Monday but the rally cooled on doubts about the ability of retail traders who are normally focused on stocks to move prices in a bigger, more liquid commodities market.
Video game retailer GameStop, at the center of last week s Reddit rally, slid 30.8% to $225, but other shares caught up in the frenzy that has battered short-sellers extended their advance, including BlackBerry.
Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains to trade up 6.3% at $28.70.