Silver drops over 4% as retail buying frenzy pauses

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Bars of silver are placed on wooden pallets at the KGHM copper and precious metals smelter processing plant in Glogow May 10, 2013. REUTERS/Peter Andrews/File Photo

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Feb 2 (Reuters) - Silver prices dropped more than 4% on Tuesday, halting a rally to near 8-year highs in the previous session that was the latest move in two weeks of turmoil on financial markets fuelled by a pack of Reddit-centred individual investors.

Spot silver prices were down 4.2% at $27.77 an ounce as of 0730 GMT, retreating from a high of $30.03 reached on Monday, their since February 2013. read more

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Reporting by Swati Verma in Bengaluru; editing by Patrick Graham

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