Silver Prices Fell on January 20 [SMM Daily Review]

On Friday's night session, bulls took profits, leading to a decline in silver prices. The opening price of spot silver was $30.346/oz. The SMM #1 silver ex-factory reference average price in the morning was 7,680 yuan/kg, down 153 yuan/kg WoW, with a decline of 2.0%. Today, the quotation for large-volume cash spot national standard silver ingots in the Shanghai area was on par with parity, while the premium/discount for large producers was 3 yuan/kg. Today, as downstream sectors gradually entered a rest period, traders and smelters also began to take breaks. There were not many selling enterprises, but downstream buyers still showed purchasing demand due to the price drop.

》Check SMM Precious Metals Spot Prices