/biz/ - Business & Finance

I bought 10 oz of silver. Will trade it for a small house in the future..thanks biz

I'm worried about getting scammed

why are people saying silver is the next short squeeze? The short interest is only 17% on PSLV for example. Compare that to GME's 140% short interest.

Also silver has multiple ticker symbols making it harder to get a united push behind one certain thing, but i suppose as long as you invest in physical silver in some shape or form it helps the situation.

But still, the short interest is low, why is the target of a short squeeze?

What you don't realize is silver is actually used in industry and there is a lot more of it to be mined. If silver went to $50 an oz there are tons and tons and tons of it in mines that would become profitable to extract where it is not profitable now.

That is the problem with sliver mooning, at anything above $50ish an oz there is nearly unlimited silver to be mined out of the ground profitably, that's why it will never go to 100 and stay there. It can spike but that's why when you see it go to about 50 it never stays there long, they can turn up the volume on mining at that price and satisfy all demand