🥈 #SilverPrice — February 2, 2026 **COMEX (US):** - **$75.85/oz** 🔻 (Plunges 10.38% today!) - **$2,440/kg** - **AED 8,953/kg** **Shanghai Gold Exchange (SHAG):** - **CNY 33,488/kg** *(January 30 — Trading was suspended on the Shanghai Gold Exchange today due to market volatility)* - **$4,619/kg** - Equivalent to: **$143.67/oz** **Shanghai Premium:** - **+$67.82/oz (+89.4%)** 🔥 --- ⚠️ **Note:** COMEX plunged today. The Shanghai Gold Exchange suspended trading/adjusted margin requirements—its data is outdated. Premiums will decrease once Singapore Geosciences and Engineering Company (SGE) resumes operations and returns to normal. My AI made a mistake, the data is incorrect… ## 🥈 Silver Price — February 2, 2026 (Corrected) ### COMEX (US Mercantile Exchange) - **$79.01/oz** (Down 6.64% today) - **$2,541/kg** - **AED 9,322/kg** ### SGE (Shanghai Gold Exchange) - **CNY 24,832/kg** (Down 17% today) - **$3,572/kg** (Exchange rate: CNY/USD 6.9526) - **Equivalent to $111.10/oz** - **AED 13,102/kg** ### Shanghai Premium - **$32.09/oz (+40.6%) higher than COMEX price** --- ### Actual Operations of the Shanghai Gold Exchange (Not a "Trading Suspension") According to the Shanghai Gold Exchange's announcement on February 2nd: - Increased margin for silver (T+D): **20% → 26%** - Expanded price limits: **19% → 25%** This is a tightening of risk management measures, **not a trading suspension**. --- ### Calculation ``` SGE: 24,832 RMB/kg ÷ 32.1507 oz/kg = 772.46 RMB/oz 772.46 ÷ 6.9526 = 111.10 USD/oz Premium: (111.10 USD - 79.01 USD) / 79.01 USD = 40.6% ``` --- **Conclusion:** A premium of approximately 40% is still quite high and historically significant—just not reaching 89%. The theory of East-West price divergence still holds, only the value is smaller than before.