Daily Precious Metals Roundup: Quite a Drift For Chinese Silver

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A decrease of 4.9 percent made Chinese silver the biggest mover of the day, finishing at CNY 5,680 ($896) per kilogram on May 30, 2012.

The price of US silver changed direction with a 3.2 percent drop. After two days of improving prices, the finished at $27.65 per ounce. The price of Japanese silver fell 2.6 percent to JPY 708.00 ($8.90) per 10 grams. The price of Indian silver declined 1.2 percent to INR 53,314 ($957) per kilogram.

Gold prices and PGMs were also down.

Japanese gold bullion prices saw a 1.7 percent decline to JPY 3,966 ($49) per gram. Chinese gold bullion ended the day at CNY 318.30 ($50.27) per gram, after the 1.5 percent drop yesterday. The price of Indian gold bullion closed at INR 28,970 ($520) per 10 grams. Following a couple days of improvement, prices fell by 0.6 percent. The price of US gold bullion held steady at $1,543 per ounce.

Weakening prices followed two days of improvement as the price of US platinum bar dropped 3.1 percent to $1,394 per ounce. At JPY 3,620 ($45) per gram, Japanese platinum bar fell 1.5 percent on Wednesday. Following a couple days of improvement, the price of Chinese platinum bar weakened by 0.6 percent. Prices closed at CNY 310.00 ($48.95) per gram.

The price of US palladium bar closed at $593.00 per ounce. Following a couple days of improvement, the metal’s price weakened by 2.5 percent. Japanese palladium bar finished the day down 0.8 percent to JPY 1,536 ($19) per gram. The price of Chinese palladium bar flattened at CNY 146.00 ($23.06) after two days of improvement.

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