Indian Silver Price Drops, Gold Follows Suit

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One of the day’s biggest movers on our daily global precious metals index was Indian silver, dropping one percent to settle at INR 51,742 ($933) per kilogram on July 11, 2012.

Japanese silver finished the day down one percent to JPY 687.00 ($8.64) per 10 grams. At CNY 5,740 ($901) per kilogram, Chinese silver fell 0.8 percent yesterday. The price of US silver declined 0.4 percent to $27.10 per ounce.

Gold, platinum and palladium prices dropped as well.

US gold bullion closed one percent lower at $1,574 per ounce. Indian gold bullion ended the day at INR 29,178 ($526) per 10 grams, after the one percent drop on Wednesday. For the seventh day in a row, the price of Japanese gold bullion fell and is currently at JPY 4,022 ($50) per gram. Chinese gold bullion prices saw a 0.7 percent decline to CNY 323.68 ($50.84) per gram.

The price of Chinese platinum bar fell one percent to CNY 312.00 ($49.00) per gram. Japanese platinum bar has been on the decline for seven days and is now at JPY 3,644 ($45) per gram. For the seventh day in a row, the price of US platinum bar fell and is currently at $1,424 per ounce.

The price of Japanese palladium bar declined 0.9 percent to JPY 1,476 ($18) per gram. US palladium bar saw little change in its price yesterday at $579.00 per ounce. The price of Chinese palladium bar showed little movement yesterday at CNY 140.00 ($21.99) per gram.

Comments (2)

  1. Craig says:

     It seems like gold and silver bullion are a great investment at this time! http://www.moneyteachers.org/Drockton.Bullion.html

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