Silver Prices in China and Japan Drop; Gold Prices Mixed

Silver and Gold Price Activity

On April 24, 2012, Chinese silver finished the day down 2.1 percent to CNY 6,465 ($1,025) per kilogram, making it the day’s biggest mover in the precious metals market. Following a 1.8 percent rise yesterday, the price of US silver closed at $31.10 per ounce. The price of Japanese silver fell 1.7 percent to JPY 795.00 ($9.80) per 10 grams. The price of Indian silver declined one percent to INR 55,618 ($1,057) per kilogram.

The price of US gold bullion rose 1.3 percent to $1,648 per ounce after a two-day drop. At JPY 4,260 ($52) per gram, Japanese gold bullion fell one percent on Tuesday. At INR 28,813 ($548), the price of Indian gold bullion finished the market day up 0.6 percent per 10 grams. Chinese gold bullion closed 0.3 percent lower at CNY 333.73 ($52.93) per gram.

PGM Price Activity

Chinese platinum bar prices saw a 1.3 percent decline to CNY 335.50 ($53.21) per gram. US platinum bar stayed flat at around $1,552 per ounce.

US palladium bar prices rose 1.2 percent to $672.00 per ounce. The price of Japanese palladium bar changed direction with a 0.2 percent drop. After two days of improving prices, the finished at JPY 1,751 ($21) per gram. At CNY 163.00 ($25.85) per gram, the price of Chinese palladium bar changed its two-day flat trend.

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