Silver Prices Fell on January 20 [SMM Daily Review]

Published: Jan 20, 2025 17:30

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[SMM Daily Review: Silver Prices Fell on January 20] The ex-factory reference average price of SMM #1 Silver in the morning was 7,680 yuan/kg, with the average price down by 153 yuan/kg WoW, a decrease of 2.0%...

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.

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