Silver prices, miners surge as retail buyers pile in



© Reuters. FILE PHOTO: Ingots of 99.99 percent pure silver are seen at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk

SINGAPORE (Reuters) – Silver prices leapt to a five-month high on Monday and silver miners listed in Australia surged at the open of trade after social media calls to buy the metal and emulate the frenzy that has driven GameStop (NYSE:) shares up 1500% in two weeks.

Spot silver rose as much as 6.4% to $28.72 an ounce, the highest since early September. Shares in a handful of mining firms such as Argent Minerals, Boab Metals and Investigator Resources leapt more than 15%.

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