Indian Silver Jumps 5.0%

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Metal Prices, Premium

On Friday, May 31, the day’s biggest mover was Indian silver, which saw a 5.0 percent increase to INR 46,288 ($820.92) per kilogram. The price of US silver declined 2.2 percent to $22.27 per ounce. At CNY 4,580 ($746.69), the price of Chinese silver finished the market day up 1.0 percent per kilogram. The price of Japanese silver dropped by 0.5 percent to JPY 732.00 ($7.24) per 10 grams after holding steady.

US gold bullion closed 1.8 percent lower at $1,388 per ounce. Indian gold bullion finished the day up 1.3 percent to INR 27,197 ($482.34) per 10 grams. The price of Chinese gold bullion increased 1.1 percent to CNY 282.30 ($46.02) per gram. Japanese gold bullion saw its price rise 0.9 percent to JPY 4,602 ($45.52) per gram.

Weakening prices followed two days of improvement as the price of US platinum bar dropped 2.0 percent to $1,454 per ounce. After a 1.3 percent increase, Chinese platinum bar finished the day at CNY 309.00 ($50.38) per gram. Japanese platinum bar prices inched up 0.9 percent to JPY 4,813 ($47.60) per gram.

The price of US palladium bar closed at $749.00 per ounce. Following a couple days of improvement, prices fell by 0.9 percent. Chinese palladium bar gained 0.6 percent to finish at CNY 168.00 ($27.39) per gram. Japanese palladium bar held its value last Friday at JPY 2,432 ($24.05) per gram.