Spike in silver means everyone should take the Reddit traders seriously, El-Erian says

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Mohamed El-Erian
Olivia Michael | CNBC

The dramatic spike in the large silver market on Monday means that we shouldn't underestimate the collective power of the Reddit traders, according to Allianz chief economic advisor Mohamed El-Erian.

Futures contracts for silver jumped 11% on Monday morning, on track for their biggest one-day gain since 2009, after discussion about the precious metal picked up among retail traders and high profile investors on social media over the weekend.

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