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.
-
Noosa News14 hours agoThe grey backstreet of Brisbane’s Fortitude Valley where Arnie the missing dog was found dead in his owner Nathan McKeown’s black ute
-
Noosa News22 hours agoNT cattle rustler fined almost $430k for stealing 116 head from neighbouring station
-
Business23 hours agoRevenue growth, profit margin pressures, and a $365m buyback
-
General15 hours agoWaste from Perth set to be trucked out to York after WA minister approves landfill site