Silver messages on Reddit could be a “false flag” operation designed to distract traders away from GameStop, said Lobo Tiggre of the Independent Speculator.
“My feeling is, based on the positive and negative vote on Reddit, I don’t think that was a great idea for Wall Street Bets. I think, at most, there was a subcommunity on Wall Street Bets that said hey, there are shorts in the silver space, let’s jump on that too, ”said Tiggre.
Several posts have surfaced on Reddit that deny Wall Street Bets’ involvement in the silver trades or suggest that the whole thing is a “trap”, and these posts have been overwhelmingly voted.
According to some Reddit users, posts about buying silver have also been deleted by Wall Street betting administrators.
Regardless of the discussion on Reddit, the fundamentals of silver remain strong, said Tiggre.
“The fundamentals are still very strong for monetary metals this year and beyond,” he said. “GameStop folks can see silver as a distraction. I see GameStop potentially as a distraction. I’m a silver bull anyway, and if this Reddit thing proves to be just a temporary, temporary tailwind, there’s nothing wrong with that. ”
Legal Notice: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes. It is not a request to make any exchange of goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article are not responsible for losses and / or damages arising from the use of this publication.