It would appear the run on silver has begun. With the market closed, traders have rushed to secure some exposure to silver ahead of what WSB suggests could be "the world's biggest short squeeze" and that has left bullion dealers As we noted below, the premium for physical silver had soared late Friday and into Saturday (after the massive flows into SLV), but as Sunday rolled around, bullion dealers are now facing massive shortages of physical coins.
And as one investor noted, the shortages are widespread...
We can only imagine where SLV will open after this.
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While all eyes have been focused on GameStop and a handful of other heavily-shorted stocks as they exploded higher under continuous fire from WallStreetBets traders igniting a short-squeeze coinciding with a gamma-squeeze, the last few days saw another asset suddenly get in the crosshairs of the 'Reddit-Raiders' - Silver.
On Thursday, we asked "Is The Reddit Rebellion About To Descend On The Precious Metals Market?" ... One WallStreetBets user (jjalj30) posted the following last night:
(Too many images... see on source site)
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