Silver Prices Rise on May 22 [SMM Daily Review]

On May 22, silver prices continued to rise. The opening price of spot silver was $31.951/oz, and the SMM1# silver ex-factory reference average price in the morning was 8375 yuan/kg, up 187 yuan/kg from the previous day, an increase of 2.3%. Due to high market prices, some enterprises need to recover funds, and the spot market supply is sufficient. The spot premium and discount still fell, and the high silver prices muted market transactions.