Precious Metals Markets: Indian Silver Down

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Indian silver saw the biggest price shift of the day, dropping 2.2 percent to close at INR 51,458 ($957) per kilogram on May 16, 2012. The price of Japanese silver fell 1.7 percent to JPY 706.00 ($8.83) per 10 grams. For the seventh day in a row, the price of Chinese silver fell and is currently at CNY 5,810 ($919) per kilogram. US silver prices saw a 0.8 percent decline to $27.94 per ounce.

Chinese gold bullion closed 1.2 percent lower at CNY 313.80 ($49.66) per gram. The price of Japanese gold bullion declined 0.8 percent to JPY 3,961 ($49) per gram. Indian gold bullion ended the day at INR 27,944 ($519) per 10 grams, after the 0.6 percent drop on Wednesday. US gold bullion finished the day down 0.3 percent to $1,550 per ounce.

At JPY 3,673 ($45) per gram, Japanese platinum bar fell 0.7 percent yesterday. US platinum bar prices saw a 0.6 percent decline to $1,436 per ounce. Chinese platinum bar has been on the decline for seven days and is now at CNY 311.00 ($49.22) per gram.

Following a 0.7 percent rise on Wednesday, the price of Chinese palladium bar closed at CNY 145.00 ($22.95) per gram. Following a two-day drop, the price of Japanese palladium bar increased by 0.7 percent to JPY 1,529 ($19) per gram. The price of US palladium bar is back up, rising by 0.5 percent yesterday to close at $596.00 per ounce.

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