International Markets
London Silver Spot Price: The London silver spot price was $33.822 per ounce, with a change of $0.042, representing a 0.12% increase. The price fluctuated within a range of $33.647 to $33.887. London is a major global hub for precious metals trading, and the London silver spot price serves as an important reference for the international silver market. It reflects the overall supply and demand situation of silver in the global market, as well as the impact of various factors such as geopolitical events, economic data, and currency fluctuations.
New York Silver Futures Price: The New York silver futures price was $34.345 per ounce, with a decrease of $0.088 or 0.26%. Futures prices are influenced by market expectations of future silver supply and demand. Traders and investors in the futures market take into account factors such as changes in mining production, industrial demand, and investment trends to predict the future direction of silver prices. The difference between the New York silver futures price and the London silver spot price can be attributed to factors such as the cost of carrying, storage, and market expectations.
Domestic Markets in China
Shanghai Silver Spot Price (Silver T + D): The Shanghai silver spot price, represented by Silver T + D, was 8,331 yuan per kilogram, with an increase of 49 yuan or 0.59%. The Silver T + D market in Shanghai is an important part of China’s precious metals market. It allows investors to trade silver with a certain degree of leverage and flexibility. The price of Silver T + D is affected by both domestic and international factors. Domestic economic policies, industrial demand for silver, and the flow of funds in the financial market all have an impact on its price. In addition, the exchange rate of the RMB against the US dollar also plays a role, as changes in the exchange rate can affect the cost of importing and exporting silver.
Shanghai Silver Futures Price (Hu Yin): The Shanghai silver futures price was 8,334 yuan per kilogram, with an increase of 45 yuan or 0.54%. Similar to the New York silver futures market, the Shanghai silver futures market provides a platform for market participants to hedge and speculate on silver prices. The price of Shanghai silver futures is closely related to the spot market price, and it also reflects the market’s expectations for the future supply and demand of silver in the Chinese market. Traders in the futures market analyze various factors such as domestic economic data, government policies, and changes in industrial production to make trading decisions.
Silver Prices in India
Delhi: The silver price in Delhi was 106,000 Indian rupees per kilogram, which was a decrease of 100 Indian rupees per kilogram compared to the previous day1. Delhi is an important economic center in India, and the silver price here is affected by the local supply and demand of silver, as well as the impact of national economic policies.
Chennai: The silver price in Chennai was 114,600 Indian rupees per kilogram1. Chennai has a relatively active precious metals market, and the silver price is influenced by factors such as local jewelry manufacturing demand and investment preferences.
Bangalore: In Bangalore, the silver price was 105,000 Indian rupees per kilogram1. The silver market in Bangalore is also relatively developed, and the price is affected by the supply and demand of silver in the surrounding areas, as well as the impact of the IT industry on the local economy.
Hyderabad: The silver price in Hyderabad was 115,200 Indian rupees per kilogram1. Hyderabad is an important city in southern India, and the silver price is affected by factors such as local cultural traditions and economic development.
Visakhapatnam: The silver price in Visakhapatnam was 113,600 Indian rupees per kilogram1. The silver market in Visakhapatnam is influenced by the local industrial structure and trade activities.
Factors Affecting Spot Silver Prices
Geopolitical Tensions: Geopolitical tensions can have a significant impact on silver prices. For example, the air strikes by the US and the UK on Yemen have made investors worried about the impact on the global economy, leading to an increase in the safe – haven demand for precious metals such as silver. Uncertainty in geopolitics can disrupt the global economic order, causing investors to seek safe – haven assets to protect the value of their assets, thereby driving up the price of silver.
Economic Data: Economic data releases, especially those related to major economies such as the US, can affect silver prices. For example, if the US retail sales data and the New York manufacturing data released on March 17 are worse than expected, it will strengthen the market’s expectations for a Fed rate cut, which is bullish for silver. A rate cut would weaken the US dollar, making silver more attractive to investors. On the contrary, if the economic data is better than expected, it might lead to a strengthening of the US dollar and put pressure on the silver price.
Industrial Demand: Silver has a wide range of applications in the industrial field, such as in the electronics, photography, and medical industries. Changes in industrial demand for silver can have a direct impact on its price. With the development of emerging technologies such as 5G, artificial intelligence, and the Internet of Things, the demand for silver in the electronics industry is expected to increase, which will provide support for the silver price. However, if there is a slowdown in the global industrial economy, the demand for silver in the industrial field will decrease, which will put pressure on the silver price.
Investor Sentiment and Positioning: Investor sentiment and positioning also play an important role in determining silver prices. If investors are generally optimistic about the future trend of silver, it will drive more buying behavior, thereby pushing up the price. At the same time, the positioning of institutional investors and large – scale funds can also affect the short – term trend of the silver market. If institutional investors increase their silver holdings, it will have a positive impact on the silver price. On the contrary, if investors are bearish on silver and sell their holdings, it will lead to a decline in the silver price.
Conclusion
In conclusion, on March 17, 2025, the spot silver prices in different markets showed certain fluctuations. These price changes are affected by a combination of various factors such as geopolitical tensions, economic data, industrial demand, and investor sentiment. Investors and market participants need to closely monitor these factors to make more informed investment decisions. Whether it is international silver markets such as London and New York or domestic silver markets in China and India, they are all interconnected and jointly affected by global economic and political trends. Understanding the factors that affect silver prices and the characteristics of different markets can help investors better grasp the investment opportunities and risks in the silver market.
