Chinese Silver Price Rises, Gold Up and Down

Chinese silver saw a one percent increase in its price on July 17, 2012, reaching CNY 5,820 ($912) per kilogram and making it the biggest upwards shift of the day on global precious metals markets. US silver finished the day down 0.8 percent to $27.07 per ounce. Indian silver prices inched up 0.6 percent to INR 51,871 ($937) per kilogram. The price of Japanese silver nudged up 0.1 percent yesterday, closing at JPY 690.00 ($8.73) per 10 grams.

After two flat days, the price of Japanese gold bullion inched up 0.9 percent on Tuesday to JPY 4,048 ($51). US gold bullion prices saw a 0.7 percent decline to $1,580 per ounce. After a 0.4 percent increase, Chinese gold bullion finished the day at CNY 327.46 ($51.33) per gram. The price of Indian gold bullion increased 0.2 percent to INR 29,284 ($529) per 10 grams.

At CNY 311.50 ($48.83) per gram, Chinese platinum bar fell 0.6 percent on Tuesday. US platinum bar closed 0.4 percent lower at $1,410 per ounce. The price of Japanese platinum bar declined 0.3 percent to JPY 3,616 ($45) per gram.

Chinese palladium bar finished the day down 0.4 percent to CNY 141.00 ($22.10) per gram. After three straight days of no change, the price of Japanese palladium bar decreased by 0.2 percent to JPY 1,473 ($18) per gram. At $577.00 per ounce, the price of US palladium bar was essentially unchanged.

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