Developing
Verified
Spot silver swings around $57 an ounce between 19 and 22 October, Chinese outlets report
In short
Chinese business outlets reported spot silver moving between about $56.5 and $57.65 an ounce from 19 to 22 October. On 22 October CLS and 36Kr reported it down 1% at $57.36, and Yicai reported a 1% fall.
Why it matters
The documents are short market alerts and give no reasons for the moves, so their significance is limited to the price levels reported. They show the silver price changing direction several times over four days.
Key facts
- On 19 October, CLS reported spot silver opened down 0.7% at $56.97 an ounce. [ 1 ]
- On 20 October, CLS reported spot silver rebounded from an intraday low to $57 an ounce, down 0.14% on the day. [ 2 ]
- Later on 20 October, CLS and Jiemian reported the intraday fall widened to 1%, at $56.51 an ounce. [ 3 , 4 ]
- On the evening of 20 October, CLS and Jiemian reported spot silver up 1% on the day at $57.65 an ounce. [ 5 , 6 ]
- On 21 October, CLS reported the intraday fall widened to "-1%", at $57.39 an ounce. [ 7 ]
- On 22 October, CLS and 36Kr reported the intraday fall widened to 1%, at $57.36 an ounce; Yicai reported spot silver down 1%. [ 8 , 9 , 10 ]
Confirmed by several sources
- Spot silver's intraday fall widened to 1%, at $56.51 an ounce, on 20 October (morning). [ 3 , 4 ]
- Spot silver's intraday gain widened to 1%, at $57.65 an ounce, on the evening of 20 October. [ 5 , 6 ]
- Spot silver was down 1% on the day on 22 October; CLS and 36Kr put the price at $57.36 an ounce. [ 8 , 9 , 10 ]
Still unclear
- Why spot silver moved on each day. None of the documents gives a cause for the price moves.
- The 21 October figure. Only CLS reported it, and it describes the fall as widening to "-1%", a wording that does not state the size of the move plainly.
What local media are saying
Business mediaCLS, Jiemian and Yicai ran brief price alerts giving intraday percentage changes and dollar-per-ounce levels, with no explanation of the moves.
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Technology media36Kr carried the same short alert on 22 October: spot silver's intraday fall widened to 1%, at $57.36 an ounce.
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Timeline, local time
- 19 October: CLS reports spot silver opened down 0.7% at $56.97 an ounce. [ 1 ]
- 20 October: CLS reports silver rebounded from an intraday low to $57, down 0.14% on the day. [ 2 ]
- 20 October: CLS reports the fall widened to 1%, at $56.51 an ounce; Jiemian follows at 09:22. [ 3 , 4 ]
- 20 October: CLS reports silver up 1% at $57.65 an ounce; Jiemian follows at 22:22. [ 5 , 6 ]
- 21 October: CLS reports the fall widened to "-1%", at $57.39 an ounce. [ 7 ]
- 22 October: CLS and Yicai report silver down 1%; CLS gives $57.36 an ounce. 36Kr follows at 08:38. [ 8 , 9 , 10 ]