Silver's recent trading behavior is drawing comparisons to 'meme stocks,' according to Steve Sosnick, chief strategist at Interactive Brokers. Despite pressure from a stronger dollar following Trump's nomination of Warsh for Federal Reserve Chairman, silver's decline began prior to the announcement. Meanwhile, gold and Bitcoin have shown strong performance over the past two years, with their returns differing by only a few percentage points, and are now moving in tandem again. Sosnick suggests that while the trend of 'meme-ification' in traditional commodities may be waning, investor interest in alternative assets and momentum trading persists.
Silver's Performance Mirrors 'Meme Stocks' as Gold and Bitcoin Align
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