Share Prices & Company Research

Market News

01 Feb 2021 | 15:03

Fresnillo shares jump on the back of surge in silver futures

(Sharecast News) - Silver futures surged at the start of the week as retail investors shifted their sights from small-cap stocks towards to precious metal, boosting stock in Fresnillo. A wave of buying at the weekend across online silver selling venues around the world saw futures jump by 13%.

By 1453 GMT they were holding onto the bulk of those gains with march silver futures on COMEX standing 11.97% higher at $30.14/oz..

One post on Reddit's WallStreetBets forum posted during the previous week had descried it as "the biggest short in the world".

Yet as some market commentary pointed out, there had in fact been a net long position in the metal since mid-2019.

Commodities in general were also generally far deeper than those for shares in the likes of GameStop.

Be that as it may, stock in the Mexico-focused silver miner, Fresnillo, was boosted by the surge in silver futures and was last up 17.76% at 1,163.0p.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 7th October 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.