On Monday, the Futures Industry Association released its annual report on global trends in the trading of futures and options; Gold futures on the Shanghai Futures Exchange saw the biggest increase volume in the last five years as 20.09 million contracts were traded in 2013, an increase of 416% from the 3.9 million contracts traded in 2008. Chinese silver futures purchases were not far behind, the contracts jumped to 173.22 million traded in 2013. The Chinese demand for silver and gold has stayed high this year.
However, on Monday, US silver jumped up 0.9 percent, making it the day’s biggest increase. The price of Chinese silver continued to hold steady. Indian silver held its value yesterday as well. After a couple of days of improving prices, the price of Japanese silver stayed the same as it opened.
The price of US gold bullion increased 0.6 percent. The price of Chinese gold bullion showed little movement yesterday. The price of Indian gold bullion remained steady. The price of Japanese gold bullion ended a two-day climb.
The price of US platinum bar changed direction with a 0.5 percent drop after two days of improving prices. The price of Chinese platinum bar flattened after two days of improvement. After a couple of days of decreasing prices, the price of Japanese platinum bar held steady.
The price of US palladium bar weakened by 0.5 percent after two days of growth. The price of Japanese palladium bar remained essentially flat as did Chinese palladium bar.