World Gold Council Introduces New Program; Indian Silver Jumps 6.9%

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Will the World Gold Council change investors’ perceptions of gold? They seem to think so.

The council announced on Thursday that they had appointed our ol’ chum William Rhind as the managing director of its new Institutional Investment Program.

According to the WGC, Rhind will be “responsible for developing and implementing initiatives focused on expanding the use of SPDR Gold Shares and other physical gold-backed products.”

Indian silver moved up 6.9 percent on Thursday, September 19, the day’s biggest change. Following a two-day drop, the price of US silver increased by 5.6 percent. The price of Japanese silver jumped 4.5 percent. After a couple of days of decreasing prices, the price of Chinese silver held steady.

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After falling for two days, the price of US gold bullion rose 4.2 percent. One of the day’s biggest movers was Indian gold bullion which rose 3.3 percent. Ending after a 3.0 percent shift, Japanese gold bullion made one of the day’s biggest improvements. The price of Chinese gold bullion steadied following two-days of dropping prices.

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Following a two-day drop, the price of US platinum bar increased by 2.8 percent. Japanese platinum bar prices rose 1.3 percent. After dropping for two days, the price of Chinese platinum bar flattened.

Japanese palladium bar saw its price rise 2.5 percent. The price of US palladium bar increased 2.1 percent. The price of Chinese palladium bar was essentially unchanged.