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 Reddit crowd, contributed to silver’s retreat.