General
GameStop traders pour into silver, sending price to highest level since 2013
The price of silver has broken the $US30 an ounce mark for the first time since 2013, as an army of retail traders have stormed into the metal after betting billions of dollars on stocks last week.
Key points:
- The small-time investors are scooping up assets big fund managers have bet against
- They have already driven a 1,600 per cent rally in the shares of video game retailer GameStop
- The price of silver has now leapt more than 11 per cent to its highest since 2013
Organised in online forums and traded with fee-free brokers such as Robinhood, small-time investors have driven a 1,600 per cent rally in the shares of video game retailer GameStop, scooping up assets big fund managers had bet against.
The phenomenon spilled over into silver late…
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