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Retail investors are betting big on major swings in silver.

The question is which way the precious metal could go.

Individual investors on Monday sent about $171 million on net into the iShares Silver Trust (SLV)

, a popular exchange-traded fund that tracks the metal, according to market research firm VandaTrack. That marked the largest ever single day flow of new funds into the trust, almost double the previous peak recorded during the “silver squeeze” of 2021.