Indian Silver Changes Direction

Following two days of increases, the price of Indian silver dropped by 2.0 percent to end at INR 44,512 ($821.55) per kilogram on Tuesday, May 7. The price of Chinese silver closed at CNY 4,780 ($775.01) per kilogram. Following a couple days of improvement, the metal’s price weakened by 1.1 percent. Following two days of rising prices, the price of US silver dropped 0.4 percent to $24.04 per ounce. Japanese silver held its value yesterday at JPY 740.00 ($7.45) per 10 grams.

The price of Indian gold bullion fell 0.8 percent to INR 27,059 ($499.42) per 10 grams. Chinese gold bullion prices saw a 0.2 percent decline to CNY 297.35 ($48.21) per gram. After a couple of days of improving prices, the price of US gold bullion held steady at $1,470. The price of Japanese gold bullion showed little movement yesterday at JPY 4,547 ($45.76) per gram.

The price of Chinese platinum bar declined 0.3 percent to CNY 313.00 ($50.75) per gram. After a 0.2 percent increase, US platinum bar finished the day at $1,501 per ounce. The price of Japanese platinum bar remained steady at JPY 4,628 ($46.58) per gram.

Chinese palladium bar ended the day at CNY 154.00 ($24.97) per gram, after the 0.6 percent drop yesterday. For the fifth consecutive day, the price of Japanese palladium bar held flat at JPY 2,233 ($22.47) per gram. The price of US palladium bar showed little movement yesterday at $692.00 per ounce.

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