Silver prices soared on July 4 [SMM Daily Review]

Published: Jul 4, 2024 15:37

Source: SMM

Save

Yesterday, the US ADP employment index in June recorded 150,000, lower than the previous value of 157,000.

Yesterday, the US ADP employment index in June recorded 150,000, lower than the previous value of 157,000. The initial jobless claims for the week ending June 29 were announced at 238,000, higher than the previous value of 234,000 and the expected value of 235,000. The data was bullish, stimulating silver prices to soar in the night session. Today's spot silver prices opened at $30.378 per ounce. The SMM1# silver ex-factory reference average price in the morning was 8,048 yuan per kilogram, an increase of 216 yuan per kilogram from yesterday, with a rise of 2.8%. According to SMM, the silver price increased in the night session yesterday. However, today's spot silver market purchasing sentiment is not strong, with many taking a wait-and-see approach. Some companies with rigid demand stocked up yesterday, leading to lower purchasing demand today. Additionally, silver prices showed a downward trend in the afternoon, with the market waiting for low prices.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Mar 27, 2026 09:58

Discovery of over 26 Tons of Precious Metal at Several Mineral Deposits in the North Central of Vietnam

Updated information from the Vietnam Department of Geology and Minerals (under the Ministry of Agriculture and Environment) indicates that during the implementation of the project, the agency discovered 12 gold ore sites, with estimated resources of more than 10 tons of gold and over 16.4 tons of silver. “This serves as an important foundation for advancing comprehensive digital transformation in the geology sector, supporting state management, resource planning, and attracting investment in sustainable mineral exploitation,” a representative of the project said.

Mar 27, 2026 09:58

Mar 27, 2026 09:43

Gold & silver prices today: Gold and silver set for another sharp surge today—where will prices reach?

The question now arises: why did this rally occur so suddenly, and will it continue in the future? To address this, *Jagran Business* spoke with Ajay Kedia, Director of Kedia Advisory. He outlined a strategy for investors based on four key points, which will determine whether the current rally is sustainable or if the market is likely to witness a decline once again.

Mar 27, 2026 09:43

Mar 26, 2026 17:45

Silver Market Price Review and Brief Expectations Commentary (March 26, 2026) [SMM Silver Market Weekly Review]

Mar 26, 2026 17:45