Reedita investors have now targeted short speculative positions on the precious metal market. As a result, on Monday morning, the price of silver rose by 10 percent. At the same time, it reached its highest level in 7 years. The price of silver on the target of "foxes" The above was already talked about on Thursday. The movement of small investors, which is already referred to as the "flea" revolution, attacked the silver market. Experts suggest that it wants to "squeeze" the short positions of large banks. Earlier, thousands of posts on Reddit encouraged people to buy silver coins. Currently, on the chart we see a price of about $ 30 per troy ounce. The last time the $30/oz. value was seen was in February 2013. This means that people who bought the precious metal seven years ago are now almost at zero (which, by the way, may now provoke a price drop). After that, silver prices have been falling for nearly five years since the speculative bubble burst in the spring of 2011. - The Reddit crowd turned their focus to the larger whale, attempting to trigger a squeeze on short positions in the silver market. This is their equivalent of a Moby Dick moment, said Kyle Rodda, an analyst at IG Markets quoted by Reuters. The bream revolution What is the purpose of the "revolution of the lemmings". As banker.pl explains, "Reddit traders are aiming to drive up silver prices through increased demand and force holders of short positions to close them - i.e. force repurchases of issued contracts. If this were to happen, a wave of forced buy orders could push silver prices to unprecedented levels. Just as has happened in recent days with GameStop stock." - Most physical silver stocks have sold off. We're now seeing premiums - that is, the excess over the spot price you have to pay to get into physical metal ownership - glide skyward. Most of the stuff on our site costs at least 30% above spot, and we can't get anything cheaper from our wholesalers, Tyler Wall, head of SD Bullion, said in an interview with Bloomberg TV. Will gold be next in line? Tags silver Wall Street gold
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