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Investing In Gold Reddit – Entire silver industry is wiped out: Online precious metals dealer

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Investing In Gold Reddit – Most Popular?

CNBC’s Brian Sullivan discusses how silver inventories are selling out, in part because retail investors are buying up silver coins and bars, with Michael Wittmeyer, CEO of JM Bullion, an online precious metals dealer. Subscribe to CNBC Pro to access our live Pro Talk “How to Navigate the Reddit Market Mania” with Fundstrat’s Tom Lee and CNBC’s Mike Santoli: https://cnb.cx/3r7vPrJ

The price of silver surged higher on Monday as the Reddit-fueled boom in highly shorted stocks appears to be spilling over into the metals market.

Silver futures rose 8% to at $29.06 an ounce, marking the largest one-day pop in silver on NYMEX since at least 2013. The contracts traded 11% higher at $30.35 an ounce earlier in the day, the highest level since Feb. 15, 2013.

The move higher extended gains for silver and silver-related equities late last week. The iShares Silver Trust, an ETF that retail investors can easily buy that seeks to track the price of silver, rose 8.1% on Monday after popping 6% last week.

Silver mining stocks Coeur Mining and Pan American Silver surged 23.1% and 12.1% respectively on Monday. The two rose 16.9% and 14.7%, respectively, on Thursday and Friday.

The spike in demand for silver appears to be related to retail traders in the Reddit forum WallStreetBets, which has helped drive trading activity in heavily shorted stocks like GameStop and AMC Entertainment in recent weeks.

The forum had multiple active threads dedicated to silver on Sunday night, and the phrase ”#silversqueeze” was also trending on Twitter.

“It’s a very different target, but the fact that you can move silver, such a large market, is an indication to everybody that they have to take these new technicals seriously,” said Allianz chief economic advisor Mohamed El-Erian on “Squawk Box.”

The silver discussion on Reddit was not all in favor of buying the metal and related equities, with some users arguing that the “silver squeeze” was an attempt to distract from the trading in GameStop and others. Other posts were in favor of bidding up silver, and one user on Friday night referenced the Hunt brothers’ attempt to corner the silver market in 1980.

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50 Comments

  1. Greg Page
    July 31, 2021 at 9:48 pm

    #silversqueeze

  2. earlsarcades
    July 31, 2021 at 9:48 pm

    Dream on Ray, Debra h, Carrie, DJ

  3. earlsarcades
    July 31, 2021 at 9:48 pm

    Dream on. Carrie, Ray, Erika and DJ. Still married over 25 years an actual marriage license at the courthouse.

  4. SuperMrtubeman
    July 31, 2021 at 9:48 pm

    Illuminati and Freemason is completely finished

  5. silverstake88
    July 31, 2021 at 9:48 pm

    Great video!

    The only tainted part was seeing Shep, the sellout, at the end.

  6. Rosalie Trevino
    July 31, 2021 at 9:48 pm

    I love stacking!! My beautiful shiny stuff – where have you been all my life!! I love JM, my favorite to buy from. Just dropped another couple hundred when I got my paycheck. Can't wait for my next delivery!!

  7. Rhonda Austin
    July 31, 2021 at 9:48 pm

    First of all I cannot stand Shepard Smith but that said keep stacking everyone get physical silver and gold

  8. Pat Russo
    July 31, 2021 at 9:48 pm

    If the Fed had Silver…. they wouldnt be selling. They're probably also buying it!

  9. Tektoniks Architects
    July 31, 2021 at 9:48 pm

    Apes….. together……strong.

  10. Teacher Dee Dee's World
    July 31, 2021 at 9:48 pm

    Wow

  11. gixxerboy555
    July 31, 2021 at 9:48 pm

    dont believe it…silver is for industry..and will never reach 50$..never…ever..

  12. G D
    July 31, 2021 at 9:48 pm

    https://www.youtube.com/watch?v=boJOot-u7LM Draghi talk about silversqueeze

  13. C I
    July 31, 2021 at 9:48 pm

    Bitcoin is dying, silver and gold will become the standard again and will stay the standard

  14. C I
    July 31, 2021 at 9:48 pm

    apmex..👍

  15. Omar Segura
    July 31, 2021 at 9:48 pm

    Ask the corrupt Canada minister he can answer they are about to get kicked out of Mexico

  16. anita massengil
    July 31, 2021 at 9:48 pm

    I ordered a measley 8- 1oz rounds sunday and then used my daughter's stimulus $ for a round kilo koala and 7 matching 1oz rounds on yesterday's order. JM if a great place to purchase!! All tax refunds and stimulas went to buying physical silver!!!

  17. naguszed
    July 31, 2021 at 9:48 pm

    2+2=fish. keep buying

  18. KylefromAxeTruth
    July 31, 2021 at 9:48 pm

    I will hold mine until I die, they need silver to build the 4th industrial revolution.

  19. Richard Yu
    July 31, 2021 at 9:48 pm

    Physical silver currency below melt value or rare silver currency with high numisation value like 1794 flowing hair silver dollars would be better than silver ETFs or stocks as a long term investment.

  20. Goomon
    July 31, 2021 at 9:48 pm

    Pretty sure silver squeeze was fabricated by wall st. Most banks and funds have a massive position in silver and used it as a way to spook the market into overdrive. Does the SEC investigate this type of manipulation? No need when your buddies are getting rich…

  21. mell H
    July 31, 2021 at 9:48 pm

    🤣🤣🤣🤣🤣there still scratching there heads…love it…I'm so proud of you to all the people that know what's going on.well done guys.

  22. Giup Vo
    July 31, 2021 at 9:48 pm

    Billionaire Tim Draper – $250k Bitcoin, 2022 year end
    Stock to flow model by Plan B – $288k Bitcoin, 2021 year end
    Citibank – $318k Bitcoin, 2021 year end
    Scott Minerd from Guggenheim – $400k Bitcoin
    JP Morgan – $600k Bitcoin.

  23. mark oldendorf
    July 31, 2021 at 9:48 pm

    Nothing brings out the supply, like higher prices. Soon they will be eagerly processing anything that had precious metals in them.
    The wisps of gold on electronics is still better than the tiny amount of gold in a ton of ore, for a profitable mine.
    Silver was used in large medical x-rays. If it is there, it will be found.

  24. Ryan z
    July 31, 2021 at 9:48 pm

    R/ wallstreetsilver

  25. DAVE the DUDE
    July 31, 2021 at 9:48 pm

    BS I CAN GET IT.

  26. Mr Sir
    July 31, 2021 at 9:48 pm

    In Denmark "Tavex in Copenhagen" has sold out their Danish gold coins completely and only have a tiny miny amount of silver kangaroos left. Its is gone!

  27. RED PILLED AWAKE
    July 31, 2021 at 9:48 pm

    Nothing can stop what's coming, NOTHING‼️ BOOOOOOOOOOOM 💥💥

  28. Chip Fernandez
    July 31, 2021 at 9:48 pm

    #wallstreetsilver

  29. Shadow Walker ASMR
    July 31, 2021 at 9:48 pm

    Wallstreetsilver is 40k Strong, join the silverarmy. Apes together Strong 🦍🦍🦍

  30. REBEL COUNTY
    July 31, 2021 at 9:48 pm

    Keep buying physical silver tell the rats leave the ship!

  31. h0tne0
    July 31, 2021 at 9:48 pm

    2020: toilet paper
    2021: silver
    2022: ???

  32. Gary Henry
    July 31, 2021 at 9:48 pm

    All I can say is keep buying silver
    Have a great weekend 😊
    God bless

  33. lakecrab
    July 31, 2021 at 9:48 pm

    knowing when to sell is the trick.

  34. Antonios Panayiotou
    July 31, 2021 at 9:48 pm

    Good, the really somple way to empower the People against the eletist criminals!

  35. Draw4Reel
    July 31, 2021 at 9:48 pm

    Dogecoin

  36. fltadams2
    July 31, 2021 at 9:48 pm

    Dear Acting Chairman Behnam;

    On Feb 1, you stated that the Commission was closely monitoring recent activity in the silver markets, concluding that the agency remains vigilant in surveilling these markets for fraud and manipulation.

    As I am sure you are aware, a large segment of the investing public feels that the main source of an alleged fraud and manipulation of the silver market is the documented large concentrated short position in COMEX silver futures.

    The Commission had found this issue to be significant enough to post public letters addressing the matter in May of both 2004 and 2008, but clearly the issue has not gone away and has, in fact, intensified.  In terms of real world production, the concentrated short position in COMEX silver futures towers over the concentrated short positions in any other commodity, raising suspicions that it is this short position suppressing the price of silver. 

    More to the point, the Commission’s own Commitments of Traders report covering positions for the week ended Feb 2, clearly indicate that the 4 largest short sellers in COMEX silver futures added 6672 new short contracts (33.4 million oz), establishing a net short position of 65,262 contracts (326.3 million oz), their highest level in nearly a year, while the largest longs sharply reduced their long positions, further strongly suggesting any manipulation was on the part of the large shorts.

    It is hard for a reasonable person to understand how the concentrated short position of only 4 traders can legitimately increase so sharply at a time of widespread evidence of tightness and even unavailability in the wholesale physical silver market. It would have been impossible for silver prices not to have risen much more than they did without this concentrated short selling.

    Since it has been nearly 13 years since the Commission has last addressed the issue of the concentrated short position in COMEX silver futures, it would be in the public interest for the Commission to publicly address the matter at this time.

    I would urge the Commission to explain how such a large short position by only 4 traders would not suppress the price of silver artificially, or as an alternative, move to order it reduced to levels comparable to other regulated commodities.

    Sincerely,

  37. outbackeddie
    July 31, 2021 at 9:48 pm

    These silver purchases are just a vote of "no confidence" in the government's handling of the economy and the damage to the US$.

  38. Wicked Games
    July 31, 2021 at 9:48 pm

    Fractional reserve for anything any commodity should be fraud and theft

  39. Rocky Staatz
    July 31, 2021 at 9:48 pm

    Why are you lying? The price would be actually up not a run up

  40. J S
    July 31, 2021 at 9:48 pm

    Ok ok ill click on it. Geesh. You've been shoving this video down my throat ever since it came out.

  41. raymond noya
    July 31, 2021 at 9:48 pm

    Lmao !

  42. T A
    July 31, 2021 at 9:48 pm

    If you don’t hold at least 10% silver and 1% gold in your portfolio you are missing the boat. Both have been outperforming major indices for years. Inflation is coming my friends, and interest rates can not go higher. Silver and gold, silver and gold. It’s real money and preserves one’s wealth during a currency crises. Buy physical or a private trust, such as Sprott PSLV. Always read the prospectus before investing in any trust.

  43. Jack v
    July 31, 2021 at 9:48 pm

    Crypto is the best to make profits and silver is the best to preserve your crypto earnings. So cash in 10% of your profits every month and buy physical silver. There is no insurance like physical silver. Don't do what these idiots do and put all their money into silver LOL. Then they lost their ability how to make huge profits off of cryptocurrency

  44. Jack v
    July 31, 2021 at 9:48 pm

    Don't jump on the silver bandwagon and all those who plot and pump and dump crap but don't ever ever get caught dead without physical silver in your possession. Purpose of holding precious metals is not for speculation and to make huge profits overnight oh, that's not the point if that's what you're looking for and you're willing to risk everything and have no insurance at all like gold and silver and its physical form then do not have physical metals just jump into the market since I chelate & Gamble like crazy LOL you can't get rich overnight if you don't take risks. But you need to take some of those profits off the table because there is no insurance like gold and silver anywhere on the planet even if you had standing armies to defend that which you believe is yours, especially now in this era of confiscation the best asset you could have that you could hide his gold and silver. But yet on the other hand even if you have standing armies to protect what is yours you would still need a means so much to pay them oh, and to be able to continue playing when there is a system failure, and gold and silver is the best for that. Standing armies have been maintained for thousands of years with gold and silver. And the Central Bank owners understand this very well that's why they are piling into precious metals and have been for a long time because they need to be able to continue funding and supporting their standing armies that will defend their monetary system. was precious metals even if the FEMA camps common last between five and 10 years you still have a means dissipate after which the FEMA camps are closed and if you have gold and silver hidden somewhere, boy oh boy are you starting with a huge Advantage compared to the other guy with a really sore back for us to start Building Wealth all over again. buy your gold and silver if you can put it away don't worry about it because that's the purpose of it is for peace of mind and for the ultimate insurance with no counter liabilities of any third parties that you need to depend on you only have yourself to depend on. And do strong enough with the independent individual wisdom and understanding of this primary component of all existentialism understands the ultimate quintessential most Paramount deeper understanding of the purpose of precious metals. It's not for the Sheep so if you are sheep go away, get back on your television set. LMAO

  45. Kimberly Lani
    July 31, 2021 at 9:48 pm

    ❤️

  46. Francisco Rodriguez
    July 31, 2021 at 9:48 pm

    That is one cute silver nerd!

  47. loydHolland JurassicGlover
    July 31, 2021 at 9:48 pm

    Fantastic video ❤️I still see cryptocurrency as one of the best digital investment and i totally love the technology when it comes to the largest crypto asset Bitcoin As a trader, i have been able to understand that there are two sides when it comes to crypto and everyone has their opinions when it comes to choosing sides, though i am not kicking against Hodl, but i see it as an old and odd strategy to make profit of the market as when the market goes bearish investors/traders loses their investment which is always painful, when you can take advantage of the market by involving in day trading or copying trade alert from a professional trader that understand the market and use strategy to generate signals daily to make profit to grow your portfolio as i have been doing with Mr Paul Charlton for the past 5 weeks and i have been able to day trade to grow my initial 0.8 btc to 6.8 btc which you will rethink and see that trading is better/profitable. Mr Paul Charlton 's daily signals are very accurate and always yields a great positive return on investment. Mr Paul can be contacted via {ͲeӀeցram @ PaulCharlton or or mail Paulcharlton07@gmail. com}on how to trade profitably.

  48. Justin Evans
    July 31, 2021 at 9:48 pm

    Keep stacking!!

  49. Jeff Petersen
    July 31, 2021 at 9:48 pm

    Guess I better fire up that silver mine Ive w been sitting on

  50. KAREEM SUKI
    July 31, 2021 at 9:48 pm

    Silver is Cartel money🤣