Economic Reports Help Gold and Silver Gain

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Gold Prices Going Up

Silver and gold got a boost from speculative buying fueled by European economic reports and continued support for low interest rates from the Federal Reserve yesterday as nearly all precious metals gained.

The price of Indian silver fell 1.1 percent on Thursday, April 10 to INR 45,801 ($763.73) per kilogram, making it the day’s biggest mover. US silver closed 1.1 percent lower at $19.84 per ounce. The price of Japanese silver fell 0.5 percent to JPY 657.00 ($6.43) per 10 grams. After a couple of days of improving prices, the price of Chinese silver held steady at CNY 4,155 ($670.08).

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At JPY 4,305 ($42.16) per gram, Japanese gold bullion fell 0.5 percent on Thursday. US gold bullion prices rose 0.3 percent to $1,312 per ounce. Chinese gold bullion finished the day up 0.2 percent to CNY 262.10 ($42.27) per gram. Indian gold bullion gained 0.2 percent to finish at INR 28,494 ($475.14) per 10 grams.

The price of Chinese platinum bar increased 0.3 percent to CNY 308.00 ($49.67) per gram. US platinum bar prices inched up 0.1 percent to $1,437 per ounce. The price of Japanese platinum bar showed little movement yesterday at JPY 4,734 ($46.36) per gram.

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US palladium bar saw its price rise 0.8 percent to $780.00 per ounce. At CNY 178.00 ($28.71), the price of Chinese palladium bar finished the market day up 0.6 percent per gram. Japanese palladium bar stayed flat at around JPY 2,553 ($25.00) per gram.

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