Silver prices log highest finish since 2013 on 9% surge; gold also climbs

Futures for gold and silver on Monday ended sharply higher, with silver scoring its loftiest finish in about eight years.

Dealers attributed recent gains to the spillover of coordinated buying by individual investors gathering on social-media platforms, as was seen in shares of GameStop Corp. GME, -30.77% and AMC Entertainment Holdings AMC, +0.30%.

Silver surged as “a herd of retail investors has snapped up the metal,” said David Madden, market analyst at CMC Markets UK, in a market update. And “if the past few days have taught us anything it is that the Reddit mob can be very influential when it comes to certain markets.”