Chinese Precious Metals Market on 06/17: Silver Continues to Attract Capital, Gold Adjusts Slightly
Data from SGE and SHFE reveals mixed movements in the Chinese precious metals market on 06/17.
Silver keeps its bullish momentum as silver contracts on SGE rose by 0.50% to 16,775 RMB/kg, while SHFE silver saw a slight uptick of 0.04%.
In USD terms, silver$XAG is trading around 77 USD/oz, indicating that investment demand remains quite strong.
Conversely, gold noted a slight correction. Gold prices on SGE fell by 0.15%, and gold$XAU SHFE dropped by 0.25%, although it still holds above the 4,300 USD/oz mark.
This indicates that investors are looking to take profits after a strong rally previously.
Notably, silver inventories at SHFE decreased by an additional 16,710 kg during the day, while silver stocks at SGE increased by 19,800 kg over the past week.
This trend suggests that the physical supply is being closely monitored, especially as silver continues to be one of the best-performing metals of 2026.
Overall, the report indicates that capital flows are currently favoring silver over gold in the short term, while the precious metals market continues to be supported by risk-hedging demand and expectations regarding global monetary policy.
Data from SGE and SHFE reveals mixed movements in the Chinese precious metals market on 06/17.
Silver keeps its bullish momentum as silver contracts on SGE rose by 0.50% to 16,775 RMB/kg, while SHFE silver saw a slight uptick of 0.04%.
In USD terms, silver$XAG is trading around 77 USD/oz, indicating that investment demand remains quite strong.
Conversely, gold noted a slight correction. Gold prices on SGE fell by 0.15%, and gold$XAU SHFE dropped by 0.25%, although it still holds above the 4,300 USD/oz mark.
This indicates that investors are looking to take profits after a strong rally previously.
Notably, silver inventories at SHFE decreased by an additional 16,710 kg during the day, while silver stocks at SGE increased by 19,800 kg over the past week.
This trend suggests that the physical supply is being closely monitored, especially as silver continues to be one of the best-performing metals of 2026.
Overall, the report indicates that capital flows are currently favoring silver over gold in the short term, while the precious metals market continues to be supported by risk-hedging demand and expectations regarding global monetary policy.