Daily Precious Metals Roundup: US Silver Drops 1.5% After Short Rise

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Following two days of increases, the price of US silver dropped by 1.5 percent to end at $28.26 per ounce on June 5, 2012. The price of Japanese silver increased 0.6 percent to JPY 711.00 ($9.10) per 10 grams. At INR 53,631 ($963) per kilogram, Indian silver fell 0.4 percent yesterday. Chinese silver prices rose 0.3 percent to CNY 5,980 ($939) per kilogram.

Indian gold bullion finished the day down 0.5 percent to INR 29,754 ($534) per 10 grams. Japanese gold bullion ended the day at JPY 4,077 ($52) per gram, after the 0.2 percent drop on Tuesday. The price of Chinese gold bullion fell 0.1 percent to CNY 332.30 ($52.22) per gram. The price of US gold bullion remained essentially flat at $1,543 per ounce.

Meanwhile, most platinum and palladium prices were up — save for the US market.

Following a couple days of improvement, the price of US platinum bar weakened by 1.3 percent. Prices closed at $1,424 per ounce. After a one percent increase, Japanese platinum bar finished the day at JPY 3,628 ($46) per gram. The price of Chinese platinum bar increased 0.2 percent to CNY 315.00 ($49.50) per gram.

Japanese palladium bar prices inched up 1.1 percent to JPY 1,549 ($19) per gram. Chinese palladium bar saw its price rise 0.7 percent to CNY 148.00 ($23.26) per gram. Weakening prices followed two days of improvement as the price of US palladium bar dropped 0.2 percent to $611.00 per ounce.

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