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Silver price soars to eight-year high on Reddit frenzy – MINING.COM – MINING.com
Most-active futures jumped as much as 13% to $30.35 an ounce on the Comex.
Gold prices received a slight boost on Monday amid the market frenzy over its sister metal silver. Spot gold rose 0.8% to $1,863.70 an ounce by 11:50 a.m. EST, trading at a near two-week high. US gold futures on the Comex were also 0.8% higher at $1,865.50 per ounce.
Silver has gained 19% in price since last Thursday after posts on Reddit led small investors to buy silver mining stocks and exchange-traded funds (ETF) backed by physical silver bars, in a GameStop-style squeeze.
Retail sites for silver…
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