As we said earlier silver soared almost 10% yesterday making new highs since 2013 as the “Reddit army” found a new target. A strange choice in our opinion as silvers carrying a relatively small short position with most banks actually advocating their clients to be long. Also, this is a significantly deeper market than say GameStop whose average daily volume last year was $US50m compared to silver which is closer to $US11bn!
MM is looking to take profit from our long silver position in our MM Global Macro ETF Portfolio.
