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Silver Is the Latest Market Hit by Reddit Day-Trader Frenzy

  • Spot silver has biggest jump since August after Reddit mention
  • Gold and copper are also lifted by wave of spillover buying
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The first signs that the silver market was about to get hit came Wednesday.

Comments began appearing on the Reddit chatroom r/wallstreetbets -- the investor board now famous for fueling an astonishing short squeeze in Gamestop Corp. that sent its market value soaring by 788% in a week. Posters started egging each other on to pile into IShares Silver Trust, the largest silver exchange-traded fund around, saying banks have been manipulating silver prices, keeping them artificially low and masking a shortfall in physical supplies. One post described it as “THE BIGGEST SHORT SQUEEZE IN THE WORLD.”