4.0% Drop Hits Indian Silver

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With a decline of 4.0 percent to INR 44,795 ($717.06) per kilogram on Friday, December 20, Indian silver recorded the biggest price drift of the day. At $19.25 per ounce, US silver fell 2.4 percent last Friday. The price of Japanese silver fell 1.8 percent to JPY 653.00 ($6.26) per 10 grams. Chinese silver ended the day at CNY 3,965 ($653.06) per kilogram, after the 1.6 percent drop last Friday.

Indian gold bullion fell 3.9 percent to INR 27,633 ($442.34) per 10 grams. US gold bullion fell 2.5 percent in price to $1,188 per ounce. This marks the fifth day in a row of declining prices and the drop-off has accelerated since Monday, December 16. The price of Chinese gold bullion fell 1.8 percent to a 30-day low of CNY 236.20 ($38.90) per gram last Friday. The price of Japanese gold bullion showed little movement last Friday at JPY 4,082 ($39.14) per gram.

Chinese platinum bar prices declined 1.4 percent, settling at CNY 277.00 ($45.62) per gram. For the fifth day since Monday, December 16, the drop-off has accelerated. US platinum bar continued its trend downwards. Finishing the day at $1,315 per ounce, it dropped 1.3 percent. At JPY 4,480 ($42.95) per gram, the price of Japanese platinum bar was essentially unchanged.

After falling for two days, the price of Japanese palladium bar rose 1.7 percent to JPY 2,367 ($22.70) per gram. After a couple of days of decreasing prices, the price of US palladium bar held steady at $695.00. Following two days of downward movement, the price of Chinese palladium bar held steady at CNY 155.00 ($25.53) per gram.

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