Silver Prices Rise Slightly on January 6 [SMM Daily Review]

Silver prices fluctuated slightly today. The opening price of spot silver was $29.587/oz, and the SMM 1# silver ex-factory reference average price in the morning was 7,637 yuan/kg, up 30 yuan/kg from last Friday, an increase of 0.4%. This morning, due to the rapid narrowing of the spot-futures price spread, market quotations were adjusted quickly, with quotes for the 02 contract rapidly shifting from 02-12 to 02-8. Relative to TD, the national standard was on par with TD, and transactions were slightly at a discount. Transactions at lower market prices were completed quickly, while higher quotes saw some transactions but were not the mainstream trading volume. As market purchasing enthusiasm was high today, the spot premiums and discounts are expected to rise slightly tomorrow.

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