US Silver Price Down 2.2%, Gold Prices Down Globally

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On July 6, 2012, the day’s biggest mover on global precious metals markets was the US silver price, which saw a 2.2 percent decline to $27.16 per ounce.

The price of Chinese silver declined 1.6 percent to CNY 5,850 ($920) per kilogram, after two days of improvement. The price of Indian silver closed at INR 52,399 ($953) per kilogram. Following a couple days of improvement, the metal’s price weakened by 1.4 percent. Japanese silver ended the day at JPY 709.00 ($8.89) per 10 grams, after the 0.8 percent drop last Friday.

Prices of gold, platinum prices and palladium prices didn’t look that hot either.

The price of US gold bullion declined 1.3 percent to $1,588 per ounce. The price of Japanese gold bullion fell 0.7 percent to JPY 4,121 ($51) per gram. Chinese gold bullion closed 0.5 percent lower at CNY 329.50 ($51.83) per gram. Indian gold bullion finished the day down 0.5 percent to INR 29,528 ($537) per 10 grams.

At $1,450 per ounce, US platinum bar fell 1.4 percent last Friday. Chinese platinum bar prices saw a 0.6 percent decline to CNY 321.00 ($50.50) per gram. The price of Japanese platinum bar declined 0.6 percent to JPY 3,780 ($47) per gram.

Chinese palladium bar ended the day at CNY 141.00 ($22.18) per gram, after the 2.1 percent drop last Friday. US palladium bar finished the day down one percent to $581.00 per ounce. At JPY 1,523 ($19) per gram, Japanese palladium bar fell 0.4 percent last Friday.

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