Silver Prices Fluctuated and Consolidated, Spot Market Trading Was Sluggish [SMM Daily Review]

Precious metal prices continued their volatile trend today. In the spot market, suppliers mainly quoted at slight premiums. In the Shanghai area, mainstream quotations from suppliers of national-standard silver ingots in the morning session were quoted at premiums of +20~+40 yuan/kg against TD. Some non-registered brand silver ingots were offered at TD parity or discount prices for sell-off. Downstream rigid demand was weak with significant bargaining, and there was a large gap between the intended prices of buyers and sellers, making spot transactions difficult. Suppliers generally held back from selling and adopted a wait-and-see approach, or suspended quotations to prepare for warehouse transfers and delivery. Market transactions remained sluggish.