On January 29, 2026, the Shanghai Gold Exchange's Shanghai Silver (standard weight 15 kg, silver ingot with a fineness not less than 99.99%, pricing contract) afternoon session benchmark quotation was 30,300 yuan/kg, an increase of 162 yuan/kg (0.54%) compared to the morning session benchmark quotation of 30,138 yuan/kg. Compared to the previous trading day's (January 28) afternoon session benchmark quotation of 29,256 yuan/kg, it rose by 1,044 yuan/kg (3.57%).
PriceSeek's analysis of silver, with a long-short score of 2, indicates that the spot benchmark quotation for silver on January 29, 2026, was 30,300 yuan/kg, up 0.54% from the morning session and 3.57% from the previous trading day. This suggests tight supply or strong demand in the spot market, which is favorable for spot prices. Combined with silver futures data, such as the closing price of contract 2610 at 29,671 yuan/kg (up 739) and the closing price of contract 2604 at 30,891 yuan/kg (up 1,266), futures prices generally rose. Changes in open interest reflect active market participation, indicating overall bullish sentiment and providing support for futures prices. Therefore, the rating is a significant positive +2.
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