Chinese Silver Switches Direction

On Thursday, October 10, the day’s biggest mover was the price of Chinese silver, which saw a 1.9 percent decline to CNY 4,405 ($719.77) per kilogram. The price of US silver fell 1.8 percent to $21.89 per ounce. Weakening prices followed two days of improvement as the price of Indian silver dropped 1.5 percent to INR 50,208 ($811.64) per kilogram. After a 1.3 percent increase, Japanese silver finished the day at JPY 697.00 ($7.15) per 10 grams.

Chinese gold bullion closed 0.9 percent lower at CNY 259.60 ($42.42) per gram. US gold bullion finished the day down 0.9 percent to $1,307 per ounce. Japanese gold bullion ended the day at JPY 4,134 ($42.41) per gram, after the 0.3 percent drop yesterday. Indian gold bullion stayed flat at around INR 28,913 ($467.39) per 10 grams.

The price of US platinum bar closed at $1,377 per ounce. Following a couple days of improvement, prices fell by 1.4 percent. The price of Chinese platinum bar declined 0.7 percent to CNY 293.00 ($47.88) per gram. The price of Japanese platinum bar held steady at JPY 4,410 ($45.24) per gram.

The price of US palladium bar closed at $700.00 per ounce. Following a couple days of improvement, the metal’s price weakened by 1.5 percent. Chinese palladium bar prices saw a 0.6 percent decline to CNY 156.00 ($25.49) per gram. Japanese palladium bar held its value on Thursday at JPY 2,214 ($22.71) per gram.

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