On August 6, silver prices continued to decline [SMM Daily Review]

Due to concerns about economic slowdown and fluctuations of stock markets and exchange rates in the Asia-Pacific region, spot silver prices were highly volatile. Today, spot silver prices continued to fall, with an opening price of $27.102 per ounce. The ex-factory reference average price of SMM #1 silver in the morning was 7,012 yuan/kg, down 260 yuan/kg from yesterday, a decrease of 3.6%. According to SMM, due to the sharp price fluctuations, the basis changed, and market premiums and discounts increased. However, buyers showed a stronger willingness to purchase at lower premiums.