China Silver Group Shares Drop Over 4% as Precious Metals Decline, Silver Loses $80 Level

Stock News05-15

China Silver Group (00815) fell more than 4% in afternoon trading. As of writing, the stock was down 4.6% to HK$0.415, with a turnover of HK$2.7143 million. On the market front, precious metals continued their decline on May 15, with spot silver losing the $80 per ounce level, dropping over 6% intraday. Spot gold also fell below $4,600 per ounce, declining 1.75% during the session. Silver had previously risen for several consecutive days. CITIC Futures noted that the recent strength in silver was largely driven by speculative funds in a low-liquidity environment, with rising copper prices and supply concerns also providing support. However, given its speculative nature, a cooling of sentiment could lead to a significant pullback. In the short term, silver may enter a phase of consolidation, though it is expected to remain more volatile than gold.

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