• U.S. regulators to probe volatility following market upheaval
• Payroll data, stimulus plan in focus as traders weigh recovery

(Bloomberg) — 

The excitement over silver has abated, at least for now. Last week, posts on Reddit’s WallStreetBets forum had initially called for a “short squeeze” of silver, but then sentiment shifted, with users speculating that supporting posts may have been by hedge funds. The buying rush was quelled after CME Group raised margins, and the volatility is now being scrutinized by U.S. regulators.

“I see a huge retail position risk in silver due to the unusual inflows last Friday and early this week,” said Stephen Innes, chief market strategist at Axi. “If gold moves below $1,800 with silver in tow, it could trigger a large gold and silver meltdown.”

Silver futures eased 1% to $26.61 an ounce on the Comex by 11:37 a.m. in Singapore, while spot prices retreated 1.2%. At the height of the upheaval, both had topped $30 to hit