Silver prices hit an eight-year high on Monday, reportedly as amateur traders turned their attention from shorted retail stocks to shares of silver mining companies and to buying the precious resource, but Redditors, who drove much of last week’s GameStop stock surge, say they are not fully committed to a “silver squeeze” and believe more professional investors might be taking advantage of Wall Street confusion to drive change in a new market.
The BBC reports that “silver rose by as much as 11% to $30 an ounce, while shares in some mining firms were up as much as 60%” on Monday.
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