Silver Seizes the Spotlight Following Reddit Day-Trader Frenzy
- Metal surged Thursday as market tumult spread beyond stocks
- Gold is on track for its biggest January decline in a decade
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A silver frenzy calmed on Friday as investors weigh whether a push by Reddit posters to create a short squeeze has legs.
The entire market -- from miners’ shares to exchange-traded funds and even the physical metal -- has emerged as one of the latest targets of the r/wallstreetbets board now famous for fueling a short squeeze in Gamestop Corp. that sent its market value soaring. Posts encouraged people to pile into IShares Silver Trust, the largest silver exchange-traded fund, and one described it as “THE BIGGEST SHORT SQUEEZE IN THE WORLD”.