Silver Prices Rose Today, January 16 [SMM Daily Review]

Published: Jan 16, 2025 17:38

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[SMM Daily Review: Silver Prices Rose on January 16] The ex-factory reference average price of SMM #1 silver in the morning was 7,819 yuan/kg, an increase of 215 yuan/kg compared to yesterday, with a growth rate of 2.8%.

Core inflation data unexpectedly cooled, strengthening market expectations for an earlier timeline and increased frequency of US Fed interest rate cuts. Today, silver prices surged, with the opening price of spot silver at $30.669/oz. The SMM 1# silver ex-factory reference average price in the morning was 7,819 yuan/kg, up 215 yuan/kg from yesterday, an increase of 2.8%. Today's market was suppressed by high prices, with downstream sectors primarily making just-in-time procurement of designated brands. Due to the widened spot-futures price spread today and higher market sales costs, spot quotations in the Shanghai region remained unchanged. The market favoured low-priced goods, and transactions were moderate.

》View SMM Precious Metals Spot Prices

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