It will be a great deal harder to push up the price of the metal, which is already at an eight-year high
Attempting to corner the silver market has a long and dishonourable history, so one can understand why members of the have-a-go Reddit crew might be attracted to a version of the idea.
The day traders also appear to have chosen one tactic correctly. They targeted silver exchange traded funds, or ETFs, which are obliged to back their units with physical holdings of the metal. Yes, that’s the way to get maximum bang for your buck. No messing about with funds that merely hold derivative silver contracts. The price of the metal jumped by 10%.
