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Silver futures jumped 8% to $29.06 an ounce on Monday, the largest one-day gain on NYMEX since at least 2013, and touched $30.35 earlier in the session. The move was linked to Reddit WallStreetBets traders targeting silver after their GameStop and AMC campaigns, and silver mining equities also surged.
The spike is driven by retail speculation in a precious metal, not by a change in industrial or feed-related fundamentals, so it does not directly move feed commodity prices.
cnbc.comJesse PoundFeb 1, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
