Quite a Shift for US Silver Prices

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The US silver price saw a 3.1 percent drop on June 22, 2012, landing at $26.72 per ounce and making it the biggest mover of the day on our daily precious metals index. The price of Indian silver declined 1.7 percent to INR 52,972 ($940) per kilogram.

The price of Japanese silver fell one percent to JPY 702.00 ($8.77) per 10 grams. The price of Chinese silver flattened at CNY 5,910 ($928) following two-days of declines.

Meanwhile, gold prices began to drift southward as well.

Japanese gold bullion finished the day down 1.4 percent to JPY 4,040 ($50) per gram. Indian gold bullion closed 0.4 percent lower at INR 29,961 ($532) per 10 grams. The price of US gold bullion remained essentially flat at $1,543 per ounce. After a couple of days of decreasing prices, the price of Chinese gold bullion held steady at CNY 328.45 ($51.60).

Japanese platinum bar prices saw a 1.6 percent decline to JPY 3,678 ($45) per gram. US platinum bar ended the day at $1,433 per ounce, after the 1.2 percent drop last Friday. Following two days of downward movement, the price of Chinese platinum bar held steady at CNY 318.00 ($49.96) per gram.

The price of US palladium bar declined 0.8 percent to $608.00 per ounce. Japanese palladium bar has been on the decline for seven days and is now at JPY 1,567 ($19) per gram. The price of Chinese palladium bar steadied at CNY 151.00 ($23.72) per gram following two-days of dropping prices.

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