Silver bounces back, but rally seems to be petering out
The metal rebounds after a more than 8% plunge in the previous session, though the social media-driven rally appears to have run out of steam
03 February 2021 - 09:03
Bengaluru — Silver prices rebounded on Wednesday after a more than 8% plunge in the previous session prompted investors to buy in, though the social media-driven rally that started last week appears to have run out of steam.
Spot silver rose 1.4% to $26.99/oz by 3.33am GMT. Prices hit $30.03 on Monday, their highest since February 2013, after small investors responding to social media calls flooded the market in a GameStop-style squeeze...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.