Chinese Silver Experiences Large Decrease

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Metal Prices, Premium

With a decline of 3.6 percent to CNY 5,515 ($889.50) per kilogram on April 3, 2013, Chinese silver recorded the biggest price drift of the day. US silver closed 2.7 percent lower at $27.26 per ounce. Indian silver ended the day at INR 51,005 ($937.07) per kilogram, after the 2.4 percent drop yesterday. At JPY 819.00 ($8.77) per 10 grams, Japanese silver fell 2.2 percent on Wednesday.

The price of Chinese gold bullion closed at CNY 313.85 ($50.62) per gram. Following a couple days of improvement, prices fell by 2.2 percent. The price of Japanese gold bullion fell 1.5 percent to JPY 4,710 ($50.44) per gram. The price of US gold bullion declined 1.5 percent to $1,576 per ounce. Indian gold bullion prices saw a 1.3 percent decline to INR 29,118 ($534.96) per 10 grams.

Japanese platinum bar finished the day down 1.4 percent to JPY 4,703 ($50.37) per gram. US platinum bar prices saw a 1.3 percent decline to $1,571 per ounce. The price of Chinese platinum bar fell 0.3 percent to CNY 334.00 ($53.87) per gram.

The price of Chinese palladium bar declined 2.3 percent to CNY 171.00 ($27.58) per gram. US palladium bar ended the day at $765.00 per ounce, after the 1.9 percent drop yesterday. The price of Japanese palladium bar remained essentially flat at JPY 2,320 ($24.85) per gram.