Silver spikes as retail investors swarm biggest target yet

BlackRock Inc’s iShares Silver Trust, the largest exchange-traded product tracking the metal, recorded an unprecedented $944 million net inflow on Friday.

NEW YORK: Silver took center stage in the retail investor frenzy sweeping through markets, sending the precious metal to a five-month high and fueling a debate over the power of Reddit-inspired speculators to take on ever-bigger targets.

The most-active silver futures on the Comex jumped as much as 8.7% to $29.25 an ounce, after a weekend buying binge that overwhelmed online sellers of silver coins and bars from the US to Australia.