# Silver jumps 8%, touches 8 year high as Reddit traders try their squeeze play with the metal

> 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.

- Date: 2021-02-01 · published 2021-02-01T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5006-silver-jumps-8-touches-8-year-high-as-reddit-traders-try-their-squeeze-play
- Commodities: [TSP](https://feedsoft.ai/c/TSP.md)

## Why it matters

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.

## Sources

- cnbc.com: https://www.cnbc.com/2021/01/31/silver-futures-jump-7percent-as-reddit-traders-try-their-squeeze-play-with-the-metal.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.