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2/1, 8:55 AM (Source: TeleTrader)
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Silver soars over 8%, reaching five-month high

The price of silver soared more than 8% on Monday reaching a five-month record as investors are turning to safe-haven assets following markets.

The rise of precious metal seems to be related to traders from the Reddit forum WallStreetBets, which has recently pumped prices of stocks such as GameStop and AMC Entertainment.

Silver jumped 8.30% at 2:50 am ET to go for $29.10 per ounce, hitting its highest level since August 7. Gold went up by 1.14% to trade at $1,865.23 per ounce concurrently. The price of palladium added 1.22% to sell for $2,260.78 per ounce at 2:52 am ET, and platinum grew 4.19%, trading for $1,117.98 per ounce at the same time.

Breaking the News / TF