If you are thinking of jumping on the Reddit SLV bandwagon, the question you should be asking is not “How high can silver go?”, but “How lucky do you feel?”
As more Redditors pile into SLV because other Redditors are buying, those who bought earlier will be selling to those coming later. Who is manipulating whom?
Reddit is piling into the SLV ETF to go long the silver market. What impact will this have on the physical market, and how will this blow back on ETF prices?
Silver miners are naturally long the metal, making them sellers in the financial markets when they hedge their production. Does this make them manipulators?
In an interesting reversal of the metal-as-money crowd’s thinking, silver is used as collateral to obtain USD funding, not the other way round.
More examples of how metals are/can be manipulated, just not in the way Reddit thinks that it is. If no manipulation, then what short squeeze?
Reddit has moved on to target silver. They want to start a short squeeze because of the popular perception that silver is manipulated. But is it really?