Silver broke above $30 an ounce on Monday as the precious metal took center stage in the Reddit investors frenzy. Silver futures on the Comex exchange rose by as much as 12.7% to $30.3 an ounce. The metal has gained 19% in price since last Thursday after posts on Reddit led small investors to buy silver mining stocks and exchange-traded funds (ETF) backed by physical silver bars, in a GameStop-style squeeze.
Retail sites for silver have been overwhelmed with demand for bars and coins as well. Dealers…Silver Price Jumps To Eight-Year High On Reddit Trading Frenzy
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