Jobs Report Boosts Silver and Gold

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Today’s jobs report gave a boost to gold, silver and other precious metals despite the unemployment rate staying at a stubborn 6.7%. Non-farm payrolls increased by 192,000 new jobs last month, down from 197,000 in February.

The price of Indian silver rose 3.4 percent on Thursday, April 3, making it the day’s biggest mover. After two days of falling prices, it closed at INR 44,788 ($749.03) per kilogram. The price of US silver increased 1.1 percent to $19.98 per ounce. On the tail of a three-day flat streak, the price of Japanese silver rose by 0.9 percent, settling at JPY 656.00 ($6.32) per 10 grams. Chinese silver gained 0.2 percent to finish at CNY 4,115 ($663.13) per kilogram.

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The price of US gold bullion rose 0.8 percent to $1,290 per ounce after a two-day drop. At CNY 257.43 ($41.48), the price of Chinese gold bullion finished the market day up 0.6 percent per gram. Prices for Japanese gold bullion have gained rising momentum since Friday, March 28. The metal settled at JPY 4,280 ($41.21) per gram after climbing 0.3 percent. Indian gold bullion finished the day up 0.2 percent to INR 27,792 ($464.79) per 10 grams.

After a 3.1 percent increase, the price of Japanese platinum bar finished the day at JPY 4,770 ($45.92) per gram. US platinum bar prices rose 1.0 percent to $1,432 per ounce. The price of Chinese platinum bar remained steady at CNY 306.00 ($49.31) per gram.

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US palladium bar saw its price rise 0.9 percent to $783.00 per ounce. The price of Japanese palladium bar rose by 0.7 percent to JPY 2,543 ($24.48) yesterday after remaining flat for two days. Chinese palladium bar held its value on Thursday at CNY 179.00 ($28.85) per gram.

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