Interest Rate Fears Still Pushing Down Precious Metals

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Most precious metals continued a pullback that began last week when Fed Chairwoman Janet Yellen signaled that the central bank may raise interest rates as early as this Fall.

At CNY 260.90 ($42.10) per gram, Chinese gold bullion fell 1.3 percent on Tuesday. Japanese gold bullion ended the day at JPY 4,370 ($42.75) per gram, after the 0.2 percent drop yesterday. The price of US gold bullion declined 0.2 percent to $1,315 per ounce. The price of Indian gold bullion remained steady at INR 28,783 ($474.11) per 10 grams.

US platinum bar prices saw a 0.4 percent decline to $1,424 per ounce. The price of Chinese platinum bar fell 0.3 percent to CNY 306.00 ($49.38) per gram. The price of Japanese platinum bar held steady at JPY 4,765 ($46.62) per gram.

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Following a couple days of improvement, the price of US palladium bar weakened by 0.6 percent. Prices closed at $782.00 per ounce. The price of Japanese palladium bar saw essentially no change for the fifth day in a row, remaining around JPY 2,542 ($24.87) per gram. The price of Chinese palladium bar ended a two-day climb, settling at CNY 178.00 ($28.72) per gram.

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The price of Indian silver closed up Tuesday, March 25 at INR 45,750 ($753.59) per kilogram, halting two days of weakening prices with a 2.8 percent shift. Japanese silver closed 1.9 percent lower at JPY 666.00 ($6.52) per 10 grams. The price of US silver fell 0.9 percent to $19.93 per ounce. The price of Chinese silver declined 0.5 percent to CNY 4,110 ($663.26) per kilogram.


 

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