Retail investors spurred on by the WallStreetBets Reddit group have taken aim at silver, with COMEX futures for the precious metal hitting an 8-year high of $30.35 on Monday.
- Silver price up as much as 19% since Thursday
- Investors are trying to “squeeze” short-sellers, forcing them to purchase at higher prices to close out positions
- Online bullion outlets overwhelmed by demand – no physical stock available at major retailers
- Mining stocks benefit, with several seeing gains in excess of 20% during Monday trade
