Silver prices rose on May 9

The EIA crude oil inventory in the United States for the week to May 3 was -1.362 million barrels, lower than the previous value of 7.265 million barrels and the expected value of -1.066 million barrels; U.S. wholesale sales in March was -1.3%, lower than the previous value of 2% and the expected value of 0.8%, which is bullish for silver. Today's spot silver opening price was 27.097 US dollars per ounce. The average ex-factory reference price of SMM1# silver in the morning was 7089 yuan per kilogram. The average price increased by 51 yuan per kilogram or 0.7% compared with yesterday. According to SMM, today's spot premium and discount quotations in Shanghai were similar to those of yesterday, but the actual transaction price was about 1 yuan/kg lower than the quotation. Market purchasing sentiment was weak.