Gold, Silver Stabilize as Stocks Lose Steam

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Gold Prices Going Up

Gold steadied on Tuesday, clawing back early losses, as a rally in European stocks lost steam and US stocks opened flat and economic data painted a mixed picture of the economy, Reuters reported.

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Japanese silver saw the biggest price decline of the day, dropping 1.6 percent to close at JPY 633.00 ($6.23) per 10 grams on Friday, May 9. At $19.15 per ounce, US silver fell 0.8 percent last Friday. The price of Indian silver declined 0.4 percent to INR 43,745 ($729.81) per kilogram, after two days of improvement. Chinese silver prices inched up 0.1 percent to CNY 4,085 ($655.95) per kilogram.

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Japanese gold bullion finished the day down 1.2 percent to JPY 4,222 ($41.56) per gram. Following a 0.3 percent rise last Friday, the price of Indian gold bullion closed at INR 27,992 ($467.00) per 10 grams. Following two days of downward movement, the price of US gold bullion held steady at $1,290 per ounce. Chinese gold bullion stayed flat at around CNY 259.00 ($41.59) per gram.

The price of Japanese platinum bar declined 0.6 percent to JPY 4,722 ($46.48) per gram. US platinum bar saw its price rise 0.3 percent to $1,432 per ounce. At CNY 303.00 ($48.64) per gram, the price of Chinese platinum bar was essentially unchanged.

US palladium bar gained 1.3 percent to finish at $803.00 per ounce. A 30-day high was reached by the price of Japanese palladium bar following a 1.2 percent increase, to finish at JPY 2,633 ($25.92) per gram. The price of Chinese palladium bar remained steady at CNY 182.00 ($29.22) per gram.

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