Peru Energy Crisis Triggers Precious Metals Rally, Platinum Price Sees Notable Intraday Gains with Downstream Buyers Mostly on the Sidelines [SMM Daily Review]

[SMM Silver Weekly Review: Silver Drops Over 6% This Week Amid Macro Pressure and Geopolitical Shocks] Silver prices rose and then fell this week, dropping approximately 6.34% for the week, with a trading range of 14,194-15,220 yuan/kg. A weak nonfarm payrolls figure initially boosted prices, but escalating US-Iran tensions and a hawkish Fed minutes later in the week formed a dual drag, triggering sharp pullbacks for three consecutive sessions. Spot premiums weakened alongside the retreat in silver prices, with both supply and demand staying weak and trading activity subdued. In the near term, attention turns to US CPI data and geopolitical developments, while over the medium-to-long term, central bank gold purchases continue to provide underlying support.