On January 12, 2026, the Shanghai Gold Exchange reported that the morning session benchmark price for Shanghai Silver (silver ingots with a standard weight of 15 kilograms and a minimum purity of 99.99%, pricing contract) was 20,927 yuan per kilogram. This represents an increase of 506 yuan per kilogram (2.48%) compared to the earlier session's benchmark price of 20,421 yuan per kilogram. Additionally, it reflects a rise of 2,244 yuan per kilogram (12.01%) compared to the previous trading day's afternoon session price of 18,683 yuan per kilogram.