Russia Reduces Gold Holdings; Indian Silver Price Takes Large Hit

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For the first time in a year, Russia decided to reduce gold reserves “as Mexico cut holdings for a 17th straight month, according to the International Monetary Fund. Kazakhstan expanded assets for a 12th month,” reports Reuters.

“Reserves in Russia declined about 0.37 metric ton to 1,015.1 tons, data on the IMF’s website showed. Kazakhstan’s holdings expanded 2.52 tons to 137.04 tons, the data showed.”

The price of Chinese platinum bar finished the market day up 1.3 percent per gram. The price of Japanese platinum bar held steady.

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Japanese palladium bar held its value last Friday. Chinese palladium bar stayed flat.

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Indian gold bullion rose 6.6 percent. Chinese gold bullion gained 0.3 percent to finish. Japanese gold bullion saw its price rise 0.3 percent.

Indian silver took a large hit on last Friday, sliding down 4.5 percent. Chinese silver closed 0.1 percent lower. The price of Japanese silver remained essentially flat.