Parabolic AI rally has bulls eyeing a comeback for this one-time meme metal trade

Silver jumped ~7% to its highest since March as an AI-driven rally rekindled investor interest in the metal, with traders linking industrial demand for data-center components to higher silver and copper prices. Copper rose 3.3% to a record $6.50. Options flow around the iShares Silver Trust showed heavy bullish positioning — more than twice as many calls traded as puts, with over 90,000 calls bought versus about 31,000 puts — and at least one large trader sold puts to fund roughly $1M of call purchases in SLV, targeting an ~11% move into mid-June. The move highlights renewed retail and options-driven momentum in silver after SLV’s 300% surge in 2025, suggesting potential upside if AI-related industrial demand and speculative flows continue.