Latest Update in the China Silver Market

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.

Sterling rose sharply in volatile trading on Thursday, rallying from record lows hit on Monday, after the Bank of England conducted a second day of bond buying to stabilize financial markets.

Since Ag (T+D) contract will not be trading during the holiday, what will be the factors influencing the prices of silver and other products? How are the downstream sectors performing at present?

SHANGHAI, Sep 29 (SMM) - Although the National Day holiday is approaching, tungsten prices kept falling due to shrinking end demand and a lack of cost support.  

After tumbling earlier, sterling rallied against the dollar on Wednesday following the Bank of England’s (BOE) purchase of UK government bonds, letting some air out of the greenback’s progress broadly after it had touched a fresh 20-year high.

Recently, many US Fed officials have been more consistent in their stances, and they support continuing the rate hikes to curb inflation to an acceptable level.

The dollar made little progress in a choppy session on Tuesday while appetites for riskier bets were still weak as Federal Reserve policymakers talked about more interest rate hikes.

The British pound plunged to a record low on Monday morning in Asia, following last week’s announcement by the new U.K. government that it would implement tax cuts and investment incentives to boost growth.