IT SEEMS a match made in heaven: Reddit’s rambunctious army of retail investors eager to take on the financial elites, and the world of silver “bugs”, hard-core metal bulls, many of whom have long argued the price was being suppressed by powerful forces.
The silver market has been roiled in recent days after a – now-removed – post appeared on Reddit’s WallStreetBets forum that encouraged traders to pile into BlackRock Inc’s iShares Silver Trust. Many long-standing silver advocates reacted with glee as the price surged to an eight-year high on Monday, spurred on by huge purchases through the exchange-traded fund.