Indian Silver Weakens After Climb

The price of Indian silver fell 4.2 percent on Wednesday, January 8 to INR 45,200 ($727.98) per kilogram, making it the day’s biggest mover. Chinese silver closed 2.3 percent lower at CNY 4,010 ($662.64) per kilogram. Following a couple days of improvement, the price of US silver weakened by 1.6 percent. Prices closed at $19.84 per ounce. The price of Japanese silver declined 0.1 percent to JPY 674.00 ($6.44) per 10 grams, after two days of improvement.

The price of Indian gold bullion closed at INR 27,998 ($450.93) per 10 grams. Following a couple days of improvement, the metal’s price weakened by 1.5 percent. After improving for two days, the price of Chinese gold bullion declined 1.4 percent to CNY 242.70 ($40.11) per gram. At $1,232 per ounce, US gold bullion fell 0.5 percent yesterday. Japanese gold bullion prices inched up 0.4 percent to JPY 4,185 ($39.96) per gram.

Japanese platinum bar finished the day up 1.0 percent to JPY 4,757 ($45.43) per gram. Chinese platinum bar finished the day down 0.3 percent to CNY 294.00 ($48.58) per gram. After a couple of days of improving prices, the price of US platinum bar held steady at $1,413.

Japanese palladium bar rose 3.1 percent to JPY 2,450 ($23.40) per gram. US palladium bar saw its price rise 0.4 percent to $740.00 per ounce. Chinese palladium bar saw little change in its price yesterday at CNY 163.00 ($26.94) per gram.