Silver Steadies After Wild Swings as Reddit-Fueled Furor Eases

Futures tick higher following the metal’s 10% slide on Tuesday
U.S. Treasury Secretary Yellen summons regulators after swings

One-ounce silver coins sit on a one-kilogram silver bar at Gold Investments Ltd. bullion dealers in this arranged photograph in London, U.K., on Wednesday, July 29, 2020. Gold held its ground after a record-setting rally as investors awaited the outcome of a Federal Reserve meeting amid expectations policy makers will remain dovish, potentially spurring more gains.Photographer: Chris Ratcliffe/Bloomberg

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By Eddie Spence and Yvonne Yue Li

February 2, 2021 at 11:51 PM UTC

Updated on

February 3, 2021 at 7:39 PM UTC

This article is for subscribers only.

Silver climbed after the biggest loss since August, with markets steadying from the Reddit-fueled turmoil that whipsawed prices this week.

Futures rose less than 2% on Wednesday following a turbulent two days as an investor stampede into the metal gave way to swift exits. Silver’s emergence last week as a focus of a retail-investor buying binge helped push prices to an almost eight-year high on Monday, before a 10% tumble on Tuesday as CME Group jacked up margin requirements.