Precious Metals Roundup: US Silver Price Drops 2.1%

On May 2, 2012, US silver fell by 2.1 percent to $30.52 per ounce, making it the day’s biggest mover on precious metals markets. Following a quiet couple of days, the price of Indian silver fell 0.8 percent on Wednesday to INR 55,350 ($1,054) per kilogram. The price of Chinese silver closed Wednesday at CNY 6,490 ($1,028) per kilogram, halting its two-day flat run with a 0.4 percent decline. Japanese silver held its value yesterday at JPY 793.00 ($9.89) per 10 grams.

US gold bullion finished the day down 0.5 percent to $1,652 per ounce. Japanese gold bullion saw its price rise 0.3 percent to JPY 4,285 ($53) per gram. At INR 29,225 ($556), the price of Indian gold bullion finished the market day up 0.2 percent per 10 grams. The price of Chinese gold bullion rose by 0.1 percent to CNY 336.98 ($53.39) per gram.

Japanese platinum bar prices rose 0.9 percent to JPY 4,042 ($50) per gram. US platinum bar closed 0.3 percent lower at $1,559 per ounce. The price of Chinese platinum bar showed little movement yesterday at CNY 338.00 ($53.56) per gram.

US palladium bar prices saw a 1.6 percent decline to $668.00 per ounce. The price of Chinese palladium bar nudged up 1.2 percent on Wednesday, closing at CNY 163.00 ($25.83) per gram. Japanese palladium bar saw little change in its price yesterday at JPY 1,745 ($21) per gram.

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