The price of silver fell on Tuesday, a day after the activity of mainly small investors raised it to the highest level in eight years. The increase was linked to messages on forum Reddit, where private investors previously encouraged each other to raise stocks of, among other things, retail chain GameStop.
A troy ounce silver, approximately 31.1 grams of the precious metal, dropped over 5% to 27.47 dollars on Tuesday afternoon. Monday, the price was still over $ 30.
Over the past week, a number of stocks with a lot of speculation about a fall in the price went up sharply. A group of small investors on Reddit’s website drove up prices with targeted purchases, to upset the speculators.
The increase in the price of silver was also linked to those Reddit investors, after a few messages on the site’s Investment Forum. There are now calls on that forum to stay away from Silver. On stock markets worldwide, mining companies benefited from the sudden leap in the price of silver on Monday.