Indian Silver Jumps 3.1%, Speculators Fuel Positive Gains in Japan

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Silver recovered on Friday thanks to strong speculative demand. Silver has struggled to hold gains this year but a significant jump on the Indian and Japanese markets led to gains for its precious metal cousin, gold as well.

On Friday, April 18, Indian silver jumped up 3.1 percent, landing at INR 45,209 ($749.65) per kilogram and making it the day’s biggest increase. The price of Japanese silver is back up, rising by 0.8 percent on Thursday to close at JPY 641.00 ($6.26) per 10 grams. The price of Chinese silver fell 0.2 percent to CNY 4,070 ($654.36) per kilogram. US silver gained 0.1 percent to finish at $19.65 per ounce.

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Chinese gold bullion ended the day at CNY 258.97 ($41.64) per gram, after the 0.4 percent drop yesterday. The price of Japanese gold bullion fell 0.2 percent to JPY 4,253 ($41.51) per gram. US gold bullion saw little change in its price on Thursday at $1,302 per ounce. Indian gold bullion held its value yesterday at INR 28,151 ($466.79) per 10 grams.

US platinum bar finished the day down 1.8 percent to $1,408 per ounce. Chinese platinum bar closed 1.6 percent lower at CNY 301.00 ($48.39) per gram. Today marks the fifth day in a row of declining prices for Japanese platinum bar. After falling 1.5 percent, prices settled at JPY 4,635 ($45.24) per gram, driving an accelerated drop-off since Monday, April 14.

After falling for two days, the price of Japanese palladium bar rose 2.1 percent to JPY 2,640 ($25.77) per gram. The price of US palladium bar declined 0.6 percent to $794.00 per ounce. Chinese palladium bar prices saw a 0.5 percent decline to CNY 181.00 ($29.10) per gram.

 

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