Silver Price Hits 8-Year High

silver soaring

By now, you’ve more than likely heard about the chaos on Wall Street regarding certain stocks like Gamestop and AMC.

While the reasoning behind these recent events may be unclear to some, it essentially boils down to distrust.

Millions of retail investors felt (and identified) that Wall Street firms were manipulating these stocks.

They believe hedge funds were hiding and suppressing their real value from the rest of the market so that they could be the sole recipients of any possible profits.

And now, the same “Reddit Army,” who was responsible for essentially telling Wall Street firms to put their money where their mouth is, has moved on to expose what they feel is the truth behind the silver market.

The price of silver jumped as much as 13% on Monday, hitting an 8-year high. The surge pushed up shares of silver-mining companies and caused retail sites to limit trading.

One user posted on the social media platform: “We know [bullion] banks are manipulating gold and silver to cover real inflation. Both the industrial case and monetary case, debt printing has never been more favorable for the No. 1 inflation hedge Silver.”

A recent article by the Wall Street Journal pointed out that, “So-called gold bugs are convinced that “real inflation” is much higher than reported consumer-price increases. They believe that an age of paper-money printing by central banks will eventually force a return to something like the Gold Standard that reigned before World War I, when prices were allegedly set by the market-determined flow of specie.”

Reddit day traders believe that the price of silver and other precious metals are being suppressed by big banks and Wall Street, who are supposedly trying to cover up actual inflation numbers.

Historically, in times of economic uncertainty and rising inflation, precious metals like silver have acted as shelter and a financial safe haven.

The question to ask yourself is when in your lifetime, or in our history, has the United States (or any other country) ever printed so much money out of thin air without it having any effects on the economy?

We were surprised, like most Americans, to learn that the government would be giving us “free” money, called stimulus checks last year– but what was even more surprising was the lack of discussion over the possible impact that stimulus spending would have on us and future generations.

This is a perfect example of why owning physical precious metals like gold and silver has its major advantages compared to digital assets.

Buying and owning physical metals cannot be easily manipulated and controlled by others.

The old saying “no one cares as much as you do,” is especially true when it comes to your personal savings.

Learn how to diversify and protect your wealth and retirement against the upcoming market volatility with assets like gold by calling American Hartford Gold at 800-462-0071.

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