Daily Precious Metals Roundup: Indian Silver Price Down

Indian silver saw a 4.4 percent drop on May 11, 2012, landing at INR 52,910 ($986) per kilogram and making it the biggest mover of the day on precious metals markets.

The price of US silver declined 1.3 percent to $28.89 per ounce. Chinese silver finished the day down 1.1 percent to CNY 6,125 ($970) per kilogram. Friday saw the price of Japanese silver drift down 0.9 percent to JPY 736.00 ($9.21) per 10 grams after a couple of stagnant days.

Indian gold bullion took a large hit on last Friday, sliding down 3.1 percent before landing at INR 28,379 ($529) per 10 grams. The price of Japanese gold bullion fell 0.7 percent to JPY 4,065 ($50) per gram last Friday after two days of no change. US gold bullion closed 0.5 percent lower at $1,580 per ounce. The price of Chinese gold bullion showed little movement last Friday at CNY 324.60 ($51.44) per gram.

PGM Price Update

At $1,461 per ounce, US platinum bar fell 2.3 percent last Friday. The price of Japanese platinum bar dropped by 1.8 percent to JPY 3,788 ($47) per gram after holding steady. Chinese platinum bar prices saw a 1.5 percent decline to CNY 320.00 ($50.71) per gram.

US palladium bar ended the day at $599.00 per ounce, after the 2.1 percent drop last Friday. The price of Chinese palladium bar fell 0.7 percent to CNY 149.00 ($23.61) per gram. Following a quiet couple of days, the price of Japanese palladium bar fell 0.5 percent last Friday to JPY 1,573 ($19) per gram.