Precious Metals: US Palladium Bar Price Turns Around After Two-Day Fall

PGM Market Overview

On April 27, 2012, the day’s biggest mover was the price of US palladium bar, which saw a 2.9 percent increase to $677.00 per ounce. This increase comes after the price fell for the two previous days. The price of Chinese palladium bar rose 0.6 percent to CNY 161.00 ($25.60) per gram after a two-day drop. At JPY 1,745 ($21), the price of Japanese palladium bar finished the market day up 0.1 percent per gram.

On the tail of a three-day flat spell, the price of US platinum bar rose by 1.2 percent, settling at $1,569 per ounce. Chinese platinum bar finished the day up 0.7 percent to CNY 338.00 ($53.74) per gram. Japanese platinum bar prices inched up 0.3 percent to JPY 4,075 ($50) per gram.

Gold and Silver Prices

US gold bullion prices rose 0.9 percent to $1,664 per ounce. After a 0.5 percent increase, Indian gold bullion finished the day at INR 29,002 ($552) per 10 grams. The price of Japanese gold bullion changed direction with a 0.4 percent drop. After two days of improving prices, the finished at JPY 4,290 ($53) per gram. Chinese gold bullion saw its price rise 0.4 percent to CNY 336.61 ($53.52) per gram.

Following a two-day drop, the price of US silver increased by 1.7 percent to $31.27 per ounce. Following a one percent rise last Friday, the price of Indian silver closed at INR 55,830 ($1,063) per kilogram. Chinese silver gained 0.9 percent to finish at CNY 6,515 ($1,035) per kilogram. The price of Japanese silver held steady at JPY 797.00 ($9.88) per 10 grams.

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