On January 29, 2026, the Shanghai Gold Exchange's Shanghai Silver (silver ingots with a standard weight of 15 kg and a purity of no less than 99.99%, pricing contract) morning session benchmark price was 30,138 yuan/kg, an increase of 882 yuan/kg (3.01%) compared to the previous trading day's (January 28) afternoon session price of 29,256 yuan/kg.
PriceSeek Analysis: Silver, Bull-Bear Score: 2
The article reports that the Shanghai Gold Exchange's spot silver benchmark price rose by 882 yuan/kg, a 3.01% increase, indicating tight supply or surging demand in the spot market, which is a significant positive for prices. Combined with futures data, the main silver contract, such as 2610, closed at 29,671 yuan, up 739 yuan from the previous day's settlement price, with a trading volume of 34,649 lots and an increase in open interest, showing that the futures market is also strengthening, reinforcing the upward trend.
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