Indian Silver Sees Large Increase

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With a 3.4 percent increase on Tuesday, October 8, Indian silver was the biggest mover on the Global Precious Metals MMI®. The price of US silver increased 2.8 percent to $22.35 per ounce. The price of Chinese silver gained 1.9 percent, closing at CNY 4,450 ($727.08) per kilogram. At JPY 672.00 ($6.95) per 10 grams, the price of Japanese silver was essentially unchanged.

At INR 28,913 ($469.35) per 10 grams, Indian gold bullion fell 2.8 percent yesterday. US gold bullion prices rose 0.9 percent to $1,322 per ounce. The price of Chinese gold bullion fell 0.7 percent yesterday to CNY 263.08 ($42.98) per gram after three straight days with no change. Japanese gold bullion stayed flat at around JPY 4,109 ($42.50) per gram.

The price of Chinese platinum bar fell 1.0 percent on Tuesday to CNY 295.00 ($48.20) per gram. US platinum bar finished the day up 0.5 percent to $1,393 per ounce. The price of Japanese platinum bar remained essentially flat at JPY 4,368 ($45.18) per gram.

The price of Chinese palladium bar moved yesterday. After a few changeless days, prices dropped 1.9 percent to CNY 157.00 ($25.65) per gram. Following a 0.4 percent rise yesterday, the price of US palladium bar closed at $702.00 per ounce. The price of Japanese palladium bar remained steady at JPY 2,208 ($22.84) per gram.

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