Analyst: Despite the silver plunge, retail investors continue to double down

BlockBeats News, February 8 — According to the Financial Times of the UK, despite the sharp decline in silver prices, which nearly erased the remarkable gains made earlier this year, retail investors have still invested nearly $500 million in the silver market over the past week. Data analysis from Vanda Research shows that as silver prices plummeted, retail investors poured $430 million into the largest silver ETF, SLV, during the six trading days ending Thursday, including over $100 million on January 30, when silver prices fell 27%, marking the largest single-day decline in history. StoneX analyst Rona O’Connell said, “People are attracted by the allure of silver.” She also mentioned that silver’s appeal has been further boosted by its “massive sell-off,” with some investors viewing it as a good opportunity to buy at lower prices. (Jin10)
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
12612vip
· 02-08 12:47
Silver is known as the devil's metal. It has a long history of being associated with both beauty and danger. Throughout the ages, silver has been used in jewelry, currency, and various tools, valued for its luster and rarity. However, it also has toxic properties and can be harmful if mishandled. Its unique properties make it a fascinating element that embodies both allure and peril.
View OriginalReply0