Silver is the new GameStop: Price reaches highest level in a

Silver is the new GameStop: Price reaches highest level in almost 11 years
The Associated Press
© Provided by NBC News
The price of silver is rallying as the online trading movement fueling the rise of unloved shares like GameStop took a shine to the precious metal.
Silver futures jumped more than 10 percent on Monday, the most in 11 years, after briefly rising above $30 an ounce in early trading, following strong gains over the weekend.
On Twitter, #silversqueeze was trending as investors turned their attention to the latest market strategy to emerge from the “WallStreetBets” forum on Reddit. The online army of Reddit traders have over the past week rallied to defend out-of-favor companies such as GameStop and AMC, defeating hedge funds that had bet the shares would fall by selling them short, in a stunning reversal of financial power transfixing Wall Street.

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