Silver prices surged to an eight year high on Monday.

Silver mining stocks leaped and bullion dealers were scrambling a small time investors piled into the metal.

The phenomenon has largely been organized in online forums such as Read it, Aunt traded with fee free brokers like Robin Hood.

It's driven a 1500% rally in the shares of video game retailer Gamestop as the crowd scoops up assets big fund managers had bet against.

The action in silver follows thousands of Reddit posts and hundreds of YouTube videos.

They suggest that arise in the physical price could again hurt large investors who have bet on it falling.

The move marks a ferree into a much bigger and more liquid market.

Silver exposed stocks, funds and coins jumped in Asian trade, pushing spot silver up more than 7%.

European stocks continued the trend in early deals, with London listed miners up strongly.

Spot silver leapt more than 11% in London, reaching its highest level since February 2013.

Broader markets swung from losses to gains in Asia and Europe.

Investors seemed tourney between whether the retail frenzy is an entertaining sideshow or something more dangerous.

Several of the renegade traders are now millionaires on paper on their hedge fund.

Adversaries are nursing their wounds.

Melvin Capital, which bet against Gamestop, lost 53% in January.

Robin Hood has backed down and lifted some of the buying restrictions it imposed last week in a bid to calm the frenzy.