• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 3 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 4 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 1 day An Indian Opinion on What is Going on in China
  • 9 hours Nord Stream - US/German consultations
  • 2 days Can Technology Keep Coal Plants Alive and Well?
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 4 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 1 day U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 1 day Storage of gas cylinders
MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Premium Content

Reddit Day-Trader Frenzy Sends Silver Prices Soaring

Reddit investors have discovered silver, with everything from silver miners, silver ETFs and the actual price of the physical metal itself soaring on Thursday.

Spot silver soared as much as 6.8%, the biggest jump since August. IShares Silver Trust, the biggest exchange-traded instrument backed by the metal, rose as much as 7.2%, the biggest intraday gain since August.

“The GameStop/AMC/Reddit mania is spilling over to silver and gold is getting a lift. The economic data this morning have become a moot point,” Bob Haberkorn, senior market strategist at RJO Futures said by phone. “This isn’t predicated on any global events, it’s just people on a message board putting all their guns towards the precious metals markets.”

First Majestic soars after silver pegged by retail investors

First Majestic Silver Corp., which was cited as a short-squeeze target, soared as much as 39% in New York on Thursday amid a frenzy of retail trading fueled by Internet chat rooms.

Options markets were bid up in the frenzy, with brokers seeing wide bid/ask spreads on the ETF and Comex contracts.

Investors are looking at buying silver options for far-out months, according to Haberkorn. “You see some incredible price increases in options that normally wouldn’t be worth anything at this point,” he said.

By Mining.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • BShore on January 28 2021 said:
    Wait til they squeeze the oil price pessimists when the jets and cars and trucks open up with the economy
  • George Doolittle on January 28 2021 said:
    "normally worthless silver futures"?

    Really?
    Anyhow certainly odd trading in the mining sector going on forever now.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News