Strong demand has pushed local prices well above international benchmarks, whittling down already-low exchange stockpiles and hoovering up metal from abroad. Silver prices have never had such a volatile start to a year, soaring about 70% on a wave of speculative buying from China and elsewhere, before abruptly giving up their gains at the end of January. The strong import figures suggest physical consumption in China has been sustained despite shifts in trading flows. Demand has come from both retail investors piling into silver bars, an alternative to increasingly pricey gold, and solar manufacturers front-loading production ahead of the removal of export tax rebates on April 1. “Silver has been a hit among retail investors and sellers,” said Song Jiangzhen, a researcher at Guangdong Southern Gold Market Academy.

Source: The Edge Markets March 20, 2026 07:33 UTC