Silver price hits eight-year high – business live

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Another post currently high on r/WallStreetBets is also warning against trying to engineer a short squeeze in silver to drive the price up.

Titled “There is no silver short squeeze happening. NONE. NEVER.”, it argues that:

Silver might go up nicely and for a time but don’t get high on hopium, this is not gonna got in the 100s.

A corner in the silver market has been tried before – and let’s be clear, that is what is being attempted now. In 1980, a rule change by the government destroyed the corner. #silverthursday.

Almost a fresh 8-year high for silver $SLV this morning as it traded a few cents past last summer’s highs.

Whether it’s WallStBets target or not, it appears the mere suggestion is enough for a short-term (at least) rocket.

Media news: The New European, the weekly title launched five years ago to battle Brexit, has been bought by a consortium of investors including ex-BBC director general and New York Times chief Mark Thompson and Lionel Barber, the former editor of the Financial Times.

A group of around 10 investors are backing a management buyout of The New European from Norwich-based publisher Archant, which was bought by private equity group Rcapital Partners last year.

“Since the Referendum, The New European has shown that there is a significant market for high-quality, informative, provocative and entertaining journalism written for an audience who care deeply about both Britain and Europe’s future.

“With new investment capital in place and seasoned media investors, we have a very clear vision of how we can better enhance the experience for our readers and employ new innovations and product developments.”

Related: The New European bought by consortium including ex-BBC boss

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