The buzz that started last Thursday saw silver dealers scramble to find supplies for retail buyers, and the amount of silver traded in the London market surged to 1.006 billion ounces on Monday.
Spot silver hit its highest since Aug. 11 at $28.98 an ounce earlier in the session, and was up 5.7% to $28.53 by 0242 GMT.
"This is Asia's response" to all the retail mania, Brian Lan, managing director at GoldSilver Central said, adding, a lot of investors want to take advantage of the situation and make some profits.
Silver dropped 0.6% to $26.21 an ounce, having gained 4.5% on Thursday after some traders moved to cover short positions on rumours about a GameStop-style squeeze driven by retail investors.