It is not clear yet, who are its users. “RedditConcerned, and whether their market moves are consistent with allegations published on the Internet.
In recent dealings, silver futures rose by about nine percent, while shares of some precious metals companies rose by more than 20 percent, which provides a new example of the group’s strength, which dominated the famous “Wall Street Bits” forum and pushed the shares of several companies. They were largely short sold last week, among them. “Game Stop“, To record highs.
The money market was troubled on Wall Street, and some hedge funds were hit, after a buying wave that raised the values of those shares, which the governor had previously bet on their decline, to record levels, while the “Robinhoud” free trading application was subjected to severe criticism, after Certain trades are restricted.
Last week, the group appeared to be fixing their sights on silver, and a forum user wrote, the precious metal “will destroy the biggest banks, not just some of the smaller hedge funds”. Another user claimed that the investment bank, JP Morgan, was “severely reducing mineral prices”.
Others indicated that the bank paid a record fine of $ 920 million last year to settle charges related to its involvement in manipulating precious metal futures contracts, as well as Treasury bonds.
Leading retail sites published warnings over the weekend that they were facing high demand.
“Due to the unprecedented demand for physical silver products, we are unable to accept any additional orders on a large number of products until the global markets open on Sunday evening,” Ampex, one of the world’s leading online retailers of precious metals, wrote.
On Friday, Bloomberg News reported that a large group of individuals are on the platform.RedditEarlier, which “raised” the prices of a number of US companies’ shares, it wants to deal in other assets, such as silver and cryptocurrencies.
She added that the shares of silver mining companies began to rise suddenly Thursday.
But silver futures have been already strong lately, and hedge funds are showing optimism about futures contracts for the precious metal, which is trading near its multi-year high.