Retail sites are warning customers they could not meet skyrocketing demand for silver bars and coins.
The number of GameStop shares that have been shorted (bets that the stock will fall), were slashed by more than half in recent days, according to a report Monday by the analytics firm S3 Partners.
"Precious metals have never seen such a sudden surge in new interest", said Adrian Ash, director of research at BullionVault.
Retail investors continued to buy silver contracts en masse on Monday, giving a boost to gold as well, as analysts believe that investors are moving to the precious metal as a safe haven. Shares in a handful of mining firms such as Argent Minerals, Boab Metals and Investigator Resources leapt more than 15 per cent.
"We saw the might of a new investor base, in terms of their ability to shape not just the fortunes of an individual stock but the fortunes of a large market segment like the Russell 2000", said Sunil Krishnan, head of multi-asset funds at Aviva Investors.
"It's nice to see this brief rally - I think it's going to be brief because squeezing shorts is not really an investment strategy, it's speculation and I don't see it having much legs", said Brad Cooke, CEO of Vancouver-based Endeavour Silver Corp., whose shares rose nearly 21 per cent on Monday. "So it's kind of the flawless storm for silver right now", said Steinmann.
Hedge funds like Melvin with huge short positions in GameStop and other stocks targeted by WallStreetBets got burned.
Also, Silver's market cap is more than $1.2 trillion, and the metal's price is affected by global factors, which means large players, including the likes of JP Morgan, are involved.
European stocks continued the trend in early deals, with London-listed miners up strongly, including Fresnillo, up 18% and leading gainers across the region.
"On the other hand, however, it results in silver being increasingly viewed as an investment metal", he added.
Attention from day traders is the latest driver for silver prices, which have traded in a range since notching a record performance in 2020, finishing the year up 47%.
Select Start Secret Chat , which prompts with a confirmation dialogue box asking to initiate the secret chat . Either search or scroll to find the same person or contact on the Telegram , that's chat you are exporting.
The US, Germany and France have condemned Moscow's detention of Navalny and a crackdown on his supporters. . The group said that was the highest number in its nine-year history of keeping records in the Putin era.
In recent days, Toronto Public Health has been dealing with a "data catch-up" as it migrates to the provincial tracking system. There were 2,816 doses of vaccines against COVID-19 administered on January 30, down from 9,373 on January 29.
Zionist forces continue their hostile actions against the Palestinians in the occupied lands and territories, Al-Youm reported . The ministry said it expected to get 50,000 more doses of vaccines in "the coming days", but it didn't disclose the source.
At around 1:15 p.m., officials have said, the second bomb was discovered several blocks away next to a bench outside the DNC. The officials could not discuss an ongoing investigation publicly and spoke to the AP on condition of anonymity.
Sending you all so much love. "Thanking you all for your wishes, prayers, and good energy", she captioned the photograph. Virat released a statement after the birth of their child and he wrote that both the baby and Anushka were healthy.
Frydenberg told the ABC it was a "very constructive discussion" but "Zuckerberg didn't convince me to back down". If the parties can not agree on payments, a government-appointed arbitrator would set the fees for them.
A respondent in miscellaneous manufacturing said a rise in the number of employees with COVID has negatively impacted production. The two industries reporting contraction in January are printing & related support activities; and petroleum & coal products.
McIntyre headbutted Goldberg before the bell rang, which lead to an intense brawl that spilled over to the outside ring area. STAND BACK! There's a Hurricane coming through! The final four consisted of Edge , Christian , Rollins and Strowman.
On Saturday, the Black Lives Matter Global Network Foundation was awarded Sweden's Olof Palme human rights prize for 2020. These are people who seek liberation from blacks, step out of their comfort zone and speak the truth to power.
An earlier estimate Sunday had Schenectady County higher, from 12 to 18 inches, but that estimate reduced by Sunday evening. The snowstorm accompanied by heavy snow that poured on Tuesday caused snow depths of 15 inches or even higher in the area.
Burmese Military Stage Coup, Detain Aung San Suu Kyi
Derek Mitchell, the first USA ambassador to Myanmar after the opening, said the United States no longer enjoyed the same leverage. That would clear the way for him to take a civilian leadership role if the junta holds elections in a year's time as promised.
Free Santa Monica patch out tomorrow
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Tony Bennett reveals battle with Alzheimer's disease
Singer and artist Tony Bennett poses for a portrait before an opening of his art exhibition in the Manhattan borough of NY , U.S. The article conveys how the condition has affected Bennett's memory and ability to recognise everyday objects.
Nintendo Switch Outsells the 3DS
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Ireland reports 1,247 new coronavirus cases
Regarding the nationwide distribution of cases, 430 are in Dublin, 97 in Wexford, 87 in Cork, 84 in Limerick, and 76 in Galway. Dr Holohan said that people need to exercise "real care" in any circumstances where they come into contact with other people.
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Silver is the new GameStop
Even if Reddit does target silver, it's not clear the online community can have the same effect on precious metals as it did with individual stocks.