Analyst: Despite Silver's Plunge, Retail Investors Double Down
BlockBeats News, February 8th, according to the Financial Times, despite a sharp drop in silver prices that nearly wiped out this year's stunning gains, retail investors poured nearly $500 million into the silver market over the past week to place their bets. Data analysis from Vanda Research showed that as silver prices plummeted, retail investors put $430 million into the largest silver ETF, SLV, in the six trading days ending Thursday, including over $100 million on January 30th when silver prices fell by 27%, marking the largest single-day drop in history. StoneX analyst Rhona O'Connell said, "People are attracted by the charm of silver." She also said that silver's appeal has been further boosted by its 'massive sell-off,' with some investors seeing it as an opportunity to buy at a lower price. (FX678)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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