Silver and Gold Fall as Europe Doesn’t Change Interest Rates

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Gold fell on Wednesday as the dollar firmed after the European Central Bank kept interest rate changes on hold and pledged to use unconventional measures to combat low inflation, while an expected improvement in jobs data did not materialize in the US.

Indian silver saw the biggest price decline of the day, dropping 2.0 percent to close on Wednesday. The price of US silver was essentially unchanged. Chinese silver saw little change in its price on Wednesday. Japanese silver held its value yesterday.

Indian silver saw the biggest price decline of the day, dropping 2.0 percent to close at INR 43,301 ($724.22) per kilogram on Wednesday, April 2. At $19.76 per ounce, the price of US silver was essentially unchanged. Chinese silver saw little change in its price on Wednesday at CNY 4,105 ($661.26) per kilogram. Japanese silver held its value yesterday at JPY 650.00 ($6.27) per 10 grams.

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At $1,280 per ounce, US gold bullion fell 0.4 percent on Wednesday. At INR 27,740 ($463.96), the price of Indian gold bullion finished the market day up 0.2 percent per 10 grams. Today marks the fifth day in a row of rising prices for Japanese gold bullion. After climbing 0.2 percent, prices settled at JPY 4,268 ($41.18) per gram, driving an accelerated improvement since Thursday, March 27. The price of Chinese gold bullion showed little movement yesterday at CNY 255.80 ($41.21) per gram.

Chinese platinum bar finished the day up 1.3 percent to CNY 306.00 ($49.29) per gram. US platinum bar saw its price rise 0.4 percent to $1,418 per ounce. The price of Japanese platinum bar remained steady at JPY 4,628 ($44.65) per gram.

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Chinese palladium bar prices rose 1.7 percent to CNY 179.00 ($28.83) per gram. After a 0.3 percent increase, US palladium bar finished the day at $776.00 per ounce. The price of Japanese palladium bar held steady at JPY 2,526 ($24.37) per gram.

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