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Silver is the new GameStop? Price boosted by online movement

Silver is the new GameStop? Price boosted by online movement
ctvnews.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ctvnews.ca Daily Mail and Mail on Sunday newspapers.

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Silver is the new Gamestop: Price boosted by online movement

February 2, 2021 GMT
FILE - In this file photo dated Wednesday, May 9, 2007, Silver bullion, bars weighing five kilograms each, are displayed in the trading room of the stock exchange in Frankfurt, Germany. Silver futures jumped more than 10% on Monday Feb. 1, 2021, following strong gains over the weekend.(AP Photo/Michael Probst, FILE)
FILE - In this file photo dated Wednesday, May 9, 2007, Silver bullion, bars weighing five kilograms each, are displayed in the trading room of the stock exchange in Frankfurt, Germany. Silver futures jumped more than 10% on Monday Feb. 1, 2021, following strong gains over the weekend.(AP Photo/Michael Probst, FILE)
NEW YORK (AP) 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. ....

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Silver Sees Price Increase and Rise in Demand as Reddit Army Encourages Retail Investors

Silver Sees Price Increase and Rise in Demand as Reddit Army Encourages Retail Investors
Feb 1 2021 · 12:00 UTC | Updated
Feb 1 2021 · 12:06
by Ibukun Ogundare · 3 min read
Photo: Depositphotos
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Before silver’s buying stampede, the Reddit frenzy also fueled the rise in GameStop, Dogecoin, and others.
On the 1st of February, the price of silver reached a five-month high amid the ongoing retail frenzy triggered by Reddit users. The iShares Silver Trust also recorded an unusual $944 million net inflow on the 30th of January. China Silver Group Ltd. surged 45% in Hong Kong, and Silver Mines Ltd in Australia climbed 49%. There are several posts and videos on Reddit suggesting that an increase in silver price would affect investors who have bets on silver falling. ....

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Silver Soars To 8-Year High As Redditors Turn To Precious Metals

The online army of Reddit traders is fuelling massive demand.
Associated Press via CP
Leonhard Foeger/Reuters
An employee displays silver bars in Vienna on July 22, 2013. On Twitter, #silversqueeze was trending on Monday as investors bought up silver.
LONDON The price of silver is rallying as the online trading movement fuelling the rise of unloved shares like GameStop took a shine to the precious metal.
Silver rose almost 12 per cent to US$30.07 in London after novice traders who drove up GameStop turned their attention to metals. The price is silver’s highest since December 2012.
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-favour companies such as GameStop and AMC, defeating hedge funds that had bet the shares would fall by selling them short, in a stu ....

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Silver is the new Gamestop: Price boosted by online movement - Medicine Hat NewsMedicine Hat News

Silver is the new Gamestop: Price boosted by online movement - Medicine Hat NewsMedicine Hat News
medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.

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