There has been a lot of news over the past couple of weeks about /r/WallStreetBets and GameStop. The people from this Reddit message board have caused lots of turmoil for hedge fund Melvin Capital and others. The group has encouraged it’s members to buy up GameStop stock and forcing Melvin Capital to cover it’s enormous short positions.
Some have begun setting their eyes on Silver as the next target. Many have long been believed that the silver market is heavily manipulated by the bullion banks, particularly JP Morgan.
Silver spot price has risen over $2.00 per ounce over the past couple of days as investors have begun buying up SLV, AG and physical silver hoping to ride the next wave.
Dealer premiums on physical silver have been dropping lower in recent weeks since hitting some highs last year as retail bullion supply has increased.