Market Overview - The US dollar index is trading around 97.51, while spot silver opened at $38.04/oz and is currently around $38.28/oz. Silver T+D is trading at approximately 9181 CNY/kg, and the main Shanghai silver contract is around 9209 CNY/kg [1] - Last Friday, the US dollar index rose by 0.19% to close at 97.67, while spot silver fell by 2.26% to $38.14/oz. The decline in silver was attributed to progress in US-EU trade negotiations, which reduced safe-haven demand [1] Silver Market Data - The SLV silver ETF holdings increased by 22.61 tons to a total of 15,230.43 tons compared to the previous trading day [2] - On July 25, the compensation fee payment direction for Ag (T+D) was in favor of longs [2] Trade Agreements and Tariffs - President Trump announced a trade agreement with the EU, which includes a 15% tariff, $600 billion in US investments, and zero tariffs from EU countries on US goods. However, there is ambiguity regarding whether the 15% tariff covers pharmaceuticals and steel/aluminum [3] - The US Commerce Secretary stated that the deadline for tariff increases on August 1 will not be extended, and a decision on chip tariffs will be made within two weeks [4] Silver Market Analysis - The silver market opened last week at $38.108, experienced a slight pullback to $38.061, and then surged to a weekly high of $39.523 before retreating. The weekly low was $37.923, and it closed at $38.163, forming a long upper shadow shooting star pattern, indicating potential bearish sentiment for the upcoming week [5] Upcoming Economic Indicators - Key economic indicators to watch include the UK CBI retail sales balance at 18:00, the OPEC+ ministerial monitoring committee meeting at 20:00, and the US Dallas Fed business activity index at 22:30 [6]
7月28日白银早评：美欧贸易谈判取得进展 白银走势一度跳水
Jin Tou Wang·2025-07-28 03:10