SHANGHAI, Jun 1 (SMM) - In June, the US Fed will begin to shrink the balance sheet of $8.9 trillion and will release the Beige Book on Wednesday. Under such tight monetary policy, the yield of the US dollar and US Treasury bonds is at a high level, putting pressure on silver prices. The prices of SMM #1 silver were 4,639 yuan/kg today, down by 22 yuan/kg, or 0.4%, compared with yesterday. The prices of silver nitrate were 3,010-3,025 yuan/kg, down by 13.5 yuan/kg from yesterday. According to SMM research, some silver spots in Shanghai can be shipped out of the city today. With the recovery of the warehouse and the transportation, the premiums of the silver spot in Shanghai dropped today. Due to the peak season of silver nitrate sales in May and the low silver prices in recent days, the downstream purchase actively, and the delivery circle of some silver nitrate is even prolonged.
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