Business
Silver prices rally for a second day on Reddit frenzy – MINING.COM – MINING.com
Reddit traders may find other commodities harder to hit, analysts say.
US gold futures rose 1.1% to $1,858.60 a tonne.
Precious metals were also helped by a retreat in equities as hedge funds and retail investors continue to battle over valuations and European countries fight over covid-19 vaccine supply.
On Thursday, silver miners shares spiked and the largest silver exchange-traded fund, iShares Silver Trust, saw a frenzy of option buying after the market emerged as a target on the Reddit forum r/wallstreetbets. First Majestic surged 21% on Thursday, and rose as…
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