On February 3, 2026, the Shanghai Gold Exchange's early session benchmark price for Shanghai Silver (standard weight 15 kg, silver ingots with a fineness of not less than 99.99%, pricing contract) was 21,416 yuan/kg, an increase of 1,063 yuan/kg (5.22%) compared to the previous trading day's (February 2) afternoon session benchmark price of 20,353 yuan/kg. PriceSeek's analysis of silver shows a long-short score of 2. The article indicates that the early session benchmark price for silver spot on the Shanghai Gold Exchange was 21,416 yuan/kg, up 1,063 yuan/kg (5.22%) from the previous day's afternoon session price of 20,353 yuan/kg. This suggests strong spot market demand or tight supply, which significantly benefits the spot price of silver. Combined with the silver futures data from the Shanghai Futures Exchange on February 3, the main contracts, such as the 2604 closing price of 21,446 yuan/kg and the 2606 closing price of 20,821 yuan/kg, showed slight declines in some contracts (e.g., the 2604 contract fell by 4,610 points). However, the significant increase in the spot price may boost confidence in the futures market and support future upward movement in futures prices. Therefore, this news has a significant positive impact on the overall price of silver.