According to SMM, in the morning session today, the quotes for premiums and discounts of TD warrants for national standard silver ingots in Shanghai, traded on a cash and spot basis, were 4-5 yuan/kg or at a discount of 5-6 yuan/kg against the SHFE silver 2506 contract. Smelters offered ex-factory quotes for national standard silver ingots picked up at the smelter at a discount of 2-3 yuan/kg against TD. The safe-haven sentiment for precious metals eased, and silver prices were in the doldrums, dragged down by the decline in gold prices. The spot market was dominated by a wait-and-see sentiment, with some downstream enterprises hesitant to purchase due to fear of further price declines, and market transactions remained sluggish.
