Silver Prices Surge 2% to 7160 Yuan/kg on August 13, SMM Daily Commentary Reveals

[SMM Silver Weekly Review: Silver Prices Rebound After Initial Decline, Down Nearly 4% for the Week; Rate Hike Expectations and Geopolitical Risks Drive Wild Swings] Silver prices fell initially before rebounding this week, ending down nearly 4%. Hawkish remarks at Jackson Hole and surging US Treasury yields dominated the pullback in the first half of the week, while weaker ADP data and a pullback in the dollar drove the rebound in the second half. Spot discounts dominated transactions, with trading activity starting slow before picking up. Inventory built up by 26 mt, and ETF open interest edged down slightly. Silver prices are expected to maintain a wild swings pattern in the short term.