US Silver Drops 4.2%

US silver saw a 4.2 percent drop on Monday, July 8, landing at $18.90 per ounce and making it the biggest mover of the day. Landing at CNY 3,765 ($613.33) per kilogram on Monday, Chinese silver prices fell 3.7 percent. At JPY 613.00 ($6.04) per 10 grams, Japanese silver fell 2.7 percent on Monday. The price of Indian silver increased 0.5 percent to INR 41,636 ($691.20) per kilogram.

US gold bullion closed 2.3 percent lower at $1,224 per ounce. The price of Chinese gold bullion declined 1.8 percent to CNY 249.30 ($40.61) per gram. Japanese gold bullion prices saw a 1.7 percent decline to JPY 3,969 ($39.12) per gram. Indian gold bullion prices rose 1.2 percent to INR 26,550 ($440.76) per 10 grams.

The price of US platinum bar fell 1.4 percent to $1,323 per ounce. Chinese platinum bar ended the day at CNY 281.00 ($45.78) per gram, after the 0.7 percent drop yesterday. The price of Japanese platinum bar declined 0.4 percent to JPY 4,359 ($42.96) per gram.

Chinese palladium bar finished the day up 2.0 percent to CNY 152.50 ($24.84) per gram. Japanese palladium bar fell 1.3 percent in price to JPY 2,183 ($21.52) per gram. This marks the fifth day in a row of declining prices and the drop-off has accelerated since Tuesday, July 2. US palladium bar ended the day at $681.00 per ounce, after the 0.3 percent drop yesterday.

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