Daily Precious Metals Roundup: Indian Silver Price Up

At INR 53,250 ($977) per kilogram, Indian silver moved up 3.5 percent on May 18, 2012, the day’s biggest change on global precious metals markets. The price of US silver increased 2.7 percent to $28.67 per ounce. Chinese silver prices inched up 1.5 percent to CNY 5,900 ($932) per kilogram. Japanese silver prices rose 0.4 percent to JPY 711.00 ($8.86) per 10 grams.

Gold prices, meanwhile, rose as well.

Indian gold bullion rose 3.1 percent to INR 28,800 ($528) per 10 grams. At CNY 322.00 ($50.91), the price of Chinese gold bullion finished the market day up 1.9 percent per gram. US gold bullion gained 1.7 percent to finish at $1,593 per ounce. The price of Japanese gold bullion remained essentially flat at JPY 4,013 ($50) per gram.

PGM Prices

The price of Japanese platinum bar declined 1.2 percent to JPY 3,698 ($46) per gram. After a 0.3 percent increase, Chinese platinum bar finished the day at CNY 314.00 ($49.64) per gram. US platinum bar held its value last Friday at $1,453 per ounce.

Chinese palladium bar saw its price rise one percent to CNY 146.50 ($23.16) per gram. Following a couple days of improvement, the price of Japanese palladium bar weakened by one percent. Prices closed at JPY 1,542 ($19) per gram. US palladium bar finished the day up 0.2 percent to $604.00 per ounce.

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