Silver Outpacing Gold’s Gains, Likely Just Getting Started

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Silver has quietly scored double the percentage gains of gold this month, and prices for silver probably haven’t topped out for the year, according to MarketWatch.

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“The real value of silver is far from being realized,” said Andrew Chanin, chief executive officer of PureFunds, which offers the PureFunds ISE Junior Silver ETF.

Tracking the most-active futures contracts, silver prices have gained roughly 13% month to date, compared with gold’s 6% climb.
Japanese silver saw a 3.3 percent increase on Thursday, June 26, reaching JPY 682.00 ($6.70) per 10 grams and making it the biggest upwards shift of the day. Indian silver prices rose 0.6 percent to INR 45,850 ($762.90) per kilogram. US silver finished the day up 0.4 percent to $21.02 per ounce. The price of Chinese silver declined 0.2 percent to CNY 4,300 ($689.76) per kilogram.

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The price of Japanese gold bullion closed at JPY 4,300 ($42.23) per gram. Following a couple days of improvement, the metal’s price weakened by 0.3 percent. Chinese gold bullion gained 0.2 percent to finish at CNY 263.40 ($42.25) per gram. The price of US gold bullion held steady at $1,318 per ounce. At INR 27,761 ($461.91) per 10 grams, the price of Indian gold bullion was essentially unchanged.

Japanese platinum bar prices inched up 0.4 percent to JPY 4,799 ($47.13) per gram. The price of US platinum bar increased 0.3 percent to $1,468 per ounce. Following a two-day rise, the price of Chinese platinum bar flattened at CNY 311.00 ($49.89).

The price of Japanese palladium bar rose by 0.8 percent to JPY 2,721 ($26.72) per gram. Chinese palladium bar saw its price rise 0.5 percent to CNY 186.00 ($29.84) per gram. After a 0.5 percent increase, US palladium bar finished the day at $830.00 per ounce.

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