Rolling coverage of the latest economic and financial news
- Latest: Silver hits $30 for first time since 2013
- Introduction: Silver price soars as retail frenzy continues
- APMEX: dramatic shift in demand
- But analysts warn rally could stumble
- WallStreetBets post argues silver squeeze is hedge fund plot
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. https://t.co/qBKXhvvyPe
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. pic.twitter.com/fbGKpc4gWA
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.”