China Silver Group (00815) tumbled more than 10% in late trading, down 7.87% as of press time at HK$0.164, with turnover of HK$13.5239 million.
On the news front, spot silver extended its intraday decline to 2% on Tuesday, quoted at US$52.77 per ounce, having fallen more than 56% from its January high.
Goldman Sachs commodities strategist Quinn believes the silver market is caught in a double bind. A brief pullback in the US dollar failed to lift silver prices, while simultaneous selloffs in AI data centers and the solar sector have pulled the rug out from under silver's industrial demand narrative.
Yuan Zheng, a precious metals researcher at Galaxy Futures, pointed out that roughly 90% of gold's value is underpinned by its monetary attributes, safe-haven demand, and central bank reserves, with industrial demand accounting for a very small share. Silver, however, derives about half of its value from industrial demand in photovoltaics, electronics, and new energy. When macroeconomic expectations reverse, gold mainly absorbs a pullback in its financial attributes, while silver must endure both a drag from its industrial attributes and a correction in its financial attributes.
The ETFMG Prime 2x Daily Inverse Junior Silver Miners ETF (SINV) and the Sprott Physical Platinum and Palladium Trust (SPPP) were also noted in the broader precious metals space.
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