Friday, 1/29/2021 14:14
GOLD PRICED in terms of sister metal silver fell near its cheapest in 4 years in London s bullion market Friday, despite rising near 3-week highs of its own in the aftermath of silver s dramatic jump after users of the Reddit chatroom called on other readers to buy shares in the cheaper precious metal s largest ETF trust. [Let s] corner the market [and] f k the banks, said the anonymous post late Wednesday, urging a repeat of the short squeeze forcing a surge in the price of a raft of US-listed stocks against which speculative hedge funds hold massive bearish bets. The giant iShares Silver Trust (NYSEArca: SLV)
Gold ETFs are expanding again after heavy outflows capped 2020 s record year, while Chinese demand is growing 4 weeks ahead of the key Lunar New Year shopping season