Chinese Palladium Declines, Balmoral Testing Canadian Nickel/Platinum/Palladium Find

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Balmoral Resources Ltd. has completed the field component of its large-loop surface and borehole EM surveys on the company’s Grasset Property in northern Ontario and has resumed drill testing. The extensive zone of nickel-platinum-palladium and copper mineralization has been intersected over a 700 meter strike length in broadly spaced drilling and remains open in all directions. It could contribute significant new nickel, platinum, palladium to the North American market if estimates are correct. Balmoral is a Canadian-based precious metal exploration and development company focused on high-grade gold discoveries along the Detour Gold Trend in Quebec, Canada.

On Tuesday, March 18, the day’s biggest mover was the price of Chinese palladium bar, which saw a 1.1 percent decline. The price of Japanese palladium bar declined 1 percent. US palladium bar held its value yesterday.

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Chinese platinum bar finished the day down 0.6 percent. US platinum bar fell 0.4 percent on Tuesday. Japanese platinum bar stayed flat.

The price of US gold bullion weakened by 0.9 percent after two days of increases. The price of Chinese gold bullion fell 0.4 percent to CNY 269.20 ($43.57) per gram yesterday after two days of no change. Indian gold bullion prices saw a 0.3 percent decline to INR 29,463 ($482.39) per 10 grams. Japanese gold bullion gained 0.2 percent to finish at JPY 4,518 ($44.35) per gram.

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Indian silver closed 0.9 percent lower at INR 47,330 ($774.93) per kilogram. US silver ended the day at $21.19 per ounce, after the 0.8 percent drop on Tuesday. The price of Chinese silver fell 0.7 percent to CNY 4,210 ($681.44) per kilogram. Japanese silver finished the day down 0.3 percent to JPY 698.00 ($6.85) per 10 grams.