Daily Precious Metals Roundup: Chinese Silver Up 3.4%

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The price of Chinese silver closed up May 31, 2012 at CNY 5,875 ($925) per kilogram, halting two days of weakening prices with a 3.4 percent shift on the global transactional precious metals markets.

The price of Indian silver increased 0.9 percent to INR 53,768 ($956) per kilogram. Japanese silver, meanwhile, closed 0.7 percent lower at JPY 703.00 ($8.89) per 10 grams. At $27.73, the price of US silver finished the market day up 0.3 percent per ounce.

Gold prices saw some upward momentum as well.

After a 0.9 percent increase, Chinese gold bullion finished the day at CNY 321.25 ($50.63) per gram. Indian gold bullion prices rose 0.7 percent to INR 29,183 ($518) per 10 grams. For the fifth consecutive day, the price of US gold bullion held flat at $1,543 per ounce. The price of Japanese gold bullion remained essentially flat at JPY 3,966 ($50) per gram.

PGM Market Price Update

MJapanese platinum bar prices saw a 1.7 percent decline to JPY 3,557 ($44) per gram. Chinese platinum bar ended the day at CNY 306.00 ($48.23) per gram, after the 1.3 percent drop on Thursday. US platinum bar gained 0.3 percent to finish at $1,398 per ounce.

US palladium bar finished the day up 1.5 percent to $602.00 per ounce. Japanese palladium bar held its value yesterday at JPY 1,537 ($19) per gram. At CNY 146.00 ($23.01) per gram, the price of Chinese palladium bar was essentially unchanged.

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