The price of silver surged higher on Monday morning as the Reddit-fueled boom in highly shorted stocks appears to be spilling over into the metals market.
Silver futures traded 7.7% higher at $29.76an ounce at roughly 12:30 p.m. ET. The metal previously traded up around 11%, which would have marked the largest one-day pop in silver on NYMEX since a 13% spike in March 2009.
The contracts traded at $30.35 an ounce earlier in the day, the highest level since Feb. 15, 2013.
