Daily Precious Metals Roundup: Big Drop For US Silver Price

With a decline of 3.9 percent to $27.29 per ounce on May 23, 2012, US silver recorded the biggest price shift of the day. At JPY 704.00 ($8.81) per 10 grams, Japanese silver fell 2.5 percent yesterday. Chinese silver prices saw a 1.5 percent decline to CNY 5,880 ($930) per kilogram. Indian silver ended the day at INR 53,424 ($965) per kilogram, after the 0.4 percent drop on Wednesday.

How far did gold prices fall?

The price of US gold bullion declined 2.5 percent to $1,543 per ounce. Japanese gold bullion closed 2.2 percent lower at JPY 3,978 ($49) per gram. The price of Chinese gold bullion fell 1.8 percent to CNY 318.90 ($50.49) per gram. The price of Indian gold bullion remained essentially flat at INR 29,041 ($524) per 10 grams.

The price of Japanese platinum bar closed at JPY 3,648 ($45) per gram. Following a couple days of improvement, prices fell by three percent. US platinum bar prices saw a 2.9 percent decline to $1,416 per ounce. Chinese platinum bar ended the day at CNY 312.00 ($49.40) per gram, after the 1.6 percent drop yesterday.

US palladium bar finished the day down 2.8 percent to $595.00 per ounce. The price of Japanese palladium bar closed at JPY 1,549 ($19) per gram. Following a couple days of improvement, the metal’s price weakened by 1.3 percent. At CNY 147.00 ($23.27) per gram, the price of Chinese palladium bar was essentially unchanged.

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