1.6% Shift for Japanese Silver; Gold Prices Predicted to "Remain Under Pressure"

by on

Don’t get too comfortable… According to Kitco, “An analyst at ABN Amro expects gold prices will remain under pressure despite the recent uptick in prices. ‘As long as gold prices remain under USD 1,525/ounce, the technical outlook remains negative; and investor have the tendency to sell on rallies,’ said Georgette Boele, analyst at the bank in a research note released Thursday.”

Japanese silver rose 1.6 percent to finish as the day’s biggest mover. Following a couple days of improvement, the price of Indian silver weakened by 0.5 percent. The price of Chinese silver declined 0.2 percent, after two days of improvement. Following two days of rising prices, the price of US silver dropped 0.2 percent to $20.49 per ounce.

* Get the complete prices every day on the MetalMiner IndX℠

At $1,348, the price of US gold bullion finished the market day up 0.9 percent per ounce. Japanese gold bullion prices inched up 0.4 percent. Chinese gold bullion prices rose 0.2 percent. After a couple of days of improving prices, the price of Indian gold bullion held steady.

Japanese platinum bar prices saw a 0.7 percent decline. The price of Chinese platinum bar changed direction with a 0.3 percent drop. After a 0.3 percent increase, US platinum bar finished the day at $1,446 per ounce.

Japanese palladium bar fell 0.9 percent yesterday. Chinese palladium bar ended the day in the $26.00+ per gram range, after the 0.6 percent drop on Wednesday. US palladium bar finished the day down 0.5 percent to $740.00 per ounce.