Silver Prices Rose on January 22 [SMM Daily Review]

Recently, due to the uncertainty surrounding tariff issues after Trump took office and the support from market risk-aversion sentiment, prices edged up slightly. However, as the current information is already known to the market, the impact on prices is limited, with silver prices mainly fluctuating. The opening price of spot silver was $30.808 per ounce. The SMM 1# silver ex-factory reference average price in the morning was 7,782 yuan per kilogram, up 62 yuan per kilogram from yesterday, an increase of 0.8%. According to SMM, in the Shanghai region today, large-volume cash spot national standard silver ingot quotations were at a discount of around 2 yuan per kilogram. Today, purchases were mainly driven by downstream rigid demand, and most traders have started preparing for the holiday, with trading activities expected to continue until this Friday.

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