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Silver s Selloff Accelerates With Reddit Frenzy Unraveling

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

Reddit s red hot: Why silver is the next big thing in this upturn

New York: Reddit investors have discovered silver, with everything from silver miners, silver ETFs and the actual price of the physical metal itself soaring. The first signs came late Wednesday, when comments appeared on internet chatroom r/wallstreetbets - the same investor board that started the wild short squeeze in Gamestop Corp. and other companies. The comments centered on iShares Silver Trust, the biggest exchange-traded instrument backed by the metal, calling it THE BIGGEST SHORT SQUEEZE IN THE WORLD, and citing banks manipulating gold and silver prices. Precious metals have long been the home of conspiracy theorists ranting against central banks and big government, which may make it fertile ground for retail investors rage against the financial machine. While commodities markets are hardly immune from wild swings, they typically have a much higher barrier to entry, so squeezes tend to come from actions by institutional, rather than retail, investors.

Reddit Day-Trader Frenzy Sends Silver Prices Soaring – Investment Watch

Reddit Day-Trader Frenzy Sends Silver Prices Soaring – Investment Watch
investmentwatchblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentwatchblog.com Daily Mail and Mail on Sunday newspapers.

Gold price falls to Rs 49,000 per 10 gm, silver trending at Rs 66,200 a kg

Read more about Gold price falls to Rs 49,000 per 10 gm, silver trending at Rs 66,200 a kg on Business Standard. In New Delhi, the price of 22-carat gold dropped to Rs 47,900 per 10 gm, while in Chennai it stood at Rs 46,170

Silver price is latest market hit by Reddit day-trader frenzy

Silver price is latest market hit by Reddit day-trader frenzy Creative Commons image from pxhere.com. Reddit investors have discovered silver, with everything from silver miners, silver ETFs and the actual price of the physical metal itself soaring on Thursday. Spot silver soared as much as 6.8%, the biggest jump since August. IShares Silver Trust, the biggest exchange-traded instrument backed by the metal, rose as much as 7.2%, the biggest intraday gain since August. Sign Up for the Precious Metals Digest Sign Up “The GameStop/AMC/Reddit mania is spilling over to silver and gold is getting a lift. The economic data this morning have become a moot point,” Bob Haberkorn, senior market strategist at RJO Futures said by phone. “This isn’t predicated on any global events, it’s just people on a message board putting all their guns towards the precious metals markets.”

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