Silver price reaches eight-year high as small investors snap it up

Prices of precious metal surges as Reddit posts and YouTube videos encourage interest

Silver prices hit an eight-year high on Monday as the precious metal became the latest asset to be subject to a trading frenzy sparked by posts on the Reddit social network.

Spot silver reached $30 an ounce for the first time since 2013, rising by as much as 10% in early afternoon trading, before falling back to about $28.82, a gain of more than 7% over the day.

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