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Silver is the new Gamestop: Price boosted by online movement

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. (Article republished from HeadlineUSA.com) [.] ....

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Reddit traders buy silver futures in next move after Gamestop

Last Updated Monday, February 1, 2021 11:52PM EST
NEW YORK - The erratic trading in shares of underdog companies like GameStop that turned markets combustible last week appears to have migrated to commodities, sending
silver prices surging to an eight-year high.
Silver futures jumped more than 9% on Monday to $29.42 per ounce with #
silversqueeze trending on Twitter. That exuberance spread to companies that mine precious metals, especially
silver. Shares of Pan American
Silver surged about 12%, First Majestic
Silver rose 22% and Hecla Mining spiked 28%.
Last week, there were messages on the Reddit forum WallStreet Bets and other places on social media encouraging small investors to buy ....

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Silver is the new GameStop: Price reaches highest level in almost 11 years

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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"It's Been Nuts": Silver Surges Most Since Lehman Bankruptcy; Hits 7-Year High Over $30

"It's Been Nuts": Silver Surges Most Since Lehman Bankruptcy; Hits 7-Year High Over $30
zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.

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Price of silver soars as Reddit army targets 'new GameStop'

Credit: Unsplash
The price of silver has soared to an eight-year-high as the online trading movement fuelling the rise of neglected shares like GameStop target the precious metal.
Silver futures jumped almost 12% on Monday to over $30 per ounce as amateur investors turned their attention to the latest market strategy to emerge from the “WallStreetBets” forum on Reddit.
In the wake of the surge, coin-selling websites were swamped with demand while silver-mining stocks leapt.
In a reversal of financial power, an online army of Reddit traders have over the past week rallied to defend out-of-favour companies such as GameStop and AMC. ....

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