Silver prices fell at the beginning of last week [SMM analysis]

At the beginning of last week, due to the slowdown in geopolitical turmoil in the Middle East and the strong US labor data, bullish sentiment cooled, and silver prices began to fall. The downstream placed orders last week due to lower prices.
[Macro data]: Positive: The EIA crude oil inventory in the United States for the week to April 19 announced a value of -6.368 million barrels, lower than the previous value of 2.735 million barrels and the expected value of 825,000 barrels.
Negative: The number of initial jobless claims in the United States for the week ending April 20 was 207,000, lower than the previous value of 212,000 and the expected value of 215,000.
[Spot Market]: On Monday and Tuesday last week, as the price of silver fell, trading was brisk, especially in the afternoon. Traders' purchases were also improving. Spot premiums rose. According to SMM, premium for silver ingots meeting national standard under large-volume orders in Shanghai was 2-3 yuan/kg with cash payment, and premium of spot silver ingots under large-volume orders from large producers was 4-5 yuan/kg with cash payment.
Photovoltaic: Due to the price drop and the demand for restocking for the Labour Day holiday, the market placed orders aggressively last week.
Others: Due to the price drop, the market began to purchase goods, and the transaction has improved compared to mid-to-early April.