Business
Why ASX silver shares like Silver Mines (ASX:SVL) are falling today
The S&P/ASX 200 Index (ASX: XJO) is having a top day today. At the time of writing, the index is up a respectable 1.05% to 6,733 points. But one sector is not joining in on the party today. That sector is ASX silver shares.
Yesterday, we looked at why ASX silver shares were rocketing for a seemingly strange reason. That turned out to be an alleged attempted short squeeze on the silver market that was initiated by the now-famous Reddit group WallStreetBets.
The idea behind this ‘short squeeze’ attempt was that the silver market is a relatively shallow and illiquid one, meaning that a sudden surge of buying pressure would force a supply-demand imbalance, and cause the price of silver to skyrocket accordingly.
-
Business24 hours agoDicker Data rides the AI trend to double digit growth
-
Noosa News24 hours agoBob Katter threatens Channel 9 journalist for asking question on family heritage
-
Business21 hours agoDoes Macquarie rate Rio Tinto shares a buy, hold or sell after its big news?
-
Noosa News23 hours ago‘Large scale’ cattle duffing in the NT under investigation