Wow.. Reddit Horde wants to push SLV.?

Haha..good luck to them. Silver price is global price.

I happy also if they can push up silver price. I don't have silver but I have gold. Silver up will usually bring gold up with it.

Correcto Mundo... U need to jack up the global silver market.

Unlike a company like GME where the shares are fixed in number, an ETF can issue new shares if there is imbalance between demand and supply.

For SLV ETF, which is backed by silver bullion, if demand for its shares increases, it will buy more silver from the physical bullion market. It will then create more shares from this new bullion and sells it on the market at whatever the silver market price is at that time.

That's how SLV works, that's how GLD works.

This post has been edited by Cubalagi: Feb 1 2021, 09:28 AM

Yes. SLV price tends to track the silver futures market prices.

Let's see if the Reddit group can push up silver prices. It could be possible in the short run. You can already see futures traders anticipating this and pushing up silver prices in the futures prices this morning.

However ultimately silver price will depend on supply n demand of the metal itself.