Onshore Yuan Hits Nearly 16-Month High 

[SMM Daily Review: USD Weakness and Central Bank Gold Purchases Resonate, Silver Prices in Bullish Consolidation] SMM August 24th news: The US dollar index hovers near a three-month low, supported by central bank gold purchases and geopolitical safe-haven demand, silver prices are in bullish consolidation. In the spot market, high silver prices dampen demand, with transactions tending toward discounts.

Endeavour Silver said on August 20 that discussions with representatives of the nearby Ejido community regarding the blockade at its Terronera mine in Jalisco, Mexico, remained ongoing and cordial. However, there has been no material change in the mine’s operating status. Operations at Terronera remain temporarily suspended. The company continues to seek a constructive resolution that would allow the orderly resumption of full operations and will provide further updates as developments occur.

[SMM Flash] China’s platinum jewellery market is evolving as younger consumers increasingly favour understated “quiet luxury” and products with perceived intrinsic value, according to a Shanghai Daily report published on August 20. Platinum Guild International (PGI) China said platinum is moving beyond its traditional association with wedding jewellery, with younger consumers increasingly purchasing pieces for daily wear and fitness-related lifestyles. PGI also highlighted the expansion of platinum jewellery marketing through platforms including JD.com, Douyin and Xiaohongshu, as retailers seek to reach digitally active consumers. The development could broaden platinum’s consumer demand base in China, although the report’s comments on the metal’s scarcity and energy-transition role should be viewed separately from the jewellery market trends. PGI cited growing interest in platinum’s durability and hypoallergenic properties among consumers participating in activities such as Hyrox. The report also said a Q4 campaign on JD.com last year resulted in participating retailers doubling year-on-year sales, with half of buyers being new customers. Shanghai remains a key market, while Shenzhen and Chengdu are also emerging as important centres for platinum jewellery consumption.