Gold and silver traded lower today on news that the US economy added 217,000 jobs in May. The unemployment rate stayed at 6.3% but the news was generally seen as a good sign for the job market and a strengthening US dollar, which was bad news for the hedging metals gold and silver.
On Thursday, June 5, the day’s biggest mover was the price of Indian silver, which saw a 2.1 percent decline to INR 39,975 ($674.46) per kilogram. Chinese silver prices saw a 0.4 percent decline to CNY 4,090 ($654.34) per kilogram. Japanese silver prices rose 0.2 percent to JPY 618.00 ($6.02) per 10 grams. The price of US silver remained essentially flat at $18.80 per ounce.
Japanese gold bullion finished the day up 0.3 percent to JPY 4,116 ($40.09) per gram. Following a couple days of improvement, the price of Indian gold bullion weakened by 0.2 percent. Prices closed at INR 25,800 ($435.30) per 10 grams. Chinese gold bullion finished the day down 0.2 percent to CNY 250.57 ($40.09) per gram. The price of US gold bullion remained steady at $1,244 per ounce.
At $1,434, the price of US platinum bar finished the market day up 0.6 percent per ounce. The price of Japanese platinum bar fell 0.1 percent to JPY 4,726 ($46.03) per gram. After a couple of days of decreasing prices, the price of Chinese platinum bar held steady at CNY 305.00 ($48.80).
The price of Japanese palladium bar improved by 1.3 percent, closing at JPY 2,765 ($26.93) per gram on Thursday. A 30-day high was reached by the price of US palladium bar following a 0.1 percent increase, to finish at $834.00 per ounce. Chinese palladium bar held its value on Thursday at CNY 188.00 ($30.08) per gram.