The U.S. dollar has been gaining against the euro on expectations the European Central Bank will enact more easing to keep deflation in check. Economic data such as the weekly jobless report is not helping precious metals keep their value, either as new jobless claims fell 10,000 last week to 311,000. The lowest level since November according to the Labor Department.
Indian silver saw a 2.8 percent drop on Wednesday, March 26, landing at INR 44,461 ($738.19) per kilogram and making it the biggest mover of the day. Following a 0.6 percent rise on Wednesday, the price of Chinese silver closed at CNY 4,135 ($666.52) per kilogram. The price of US silver rose 0.4 percent to $20.00 per ounce after a two-day drop. The price of Japanese silver showed little movement on Wednesday at JPY 666.00 ($6.51) per 10 grams.
Indian gold bullion finished the day up 0.8 percent to INR 29,027 ($481.94) per 10 grams. The price of US gold bullion fell 0.2 percent to $1,312 per ounce. The price of Chinese gold bullion is back up, rising by 0.2 percent on Wednesday to close at CNY 261.45 ($42.14) per gram. At JPY 4,370 ($42.72) per gram, the price of Japanese gold bullion was essentially unchanged.
Chinese platinum bar ended the day at CNY 303.00 ($48.84) per gram, after the 1.0 percent drop on Wednesday. US platinum bar closed 0.4 percent lower at $1,418 per ounce. The price of Japanese platinum bar remained steady at JPY 4,765 ($46.58) per gram.
The price of Japanese palladium bar continues hovering around JPY 2,542 ($24.85) per gram for the fifth day in a row. US palladium bar held its value on Wednesday at $782.00 per ounce. Chinese palladium bar stayed flat at around CNY 178.00 ($28.69) per gram.