Physical silver is almost all gone – SD Bullion

In an interview with Bloomberg on Monday, Tyler Wall, President and CEO of gold and silver retailer SD Bullion, provided updates on the silver market.

Key quotes

Prices now are at least a 30% premium over spot prices.

Physical silver is almost all gone.

Silver jumped to a 5-1/2-month high of $29.01 early Monday and is currently trading at $28.58, representing a 6% gain on the day. 

The metal picked up a bid near $25 on Thursday after a Reddit user called a short squeeze. Prices rose 5% and 1% on Thursday and Friday, respectively. 

Also read: SilverSqueeze trends on Twitter as retail sites see high demand for the metal