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ASX follows global stock markets lower but Reddit traders drive silver surge – ABC News
The local share market opens in the red, after global markets fell sharply on Friday. Silver prices hit a five-month high as it becomes the latest target of the…
The local share market has opened sharply lower, while silver prices have surged as Reddit traders take a shine to the precious metal.
Key points:
- Spot silver was up by more than 6 per cent in early trade
- The Reddit forum that spurred retail investors to pile into GameStop shares has set its sights on silver
- The ASX 200 is in the red after heavy losses on US and European markets
By 10:40am (AEDT), the benchmark ASX 200 index was down by 1.1 per cent, or 73 points, to 6,534.
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