Platinum prices breached their resistance levels on Tuesday and palladium futures advanced as better-than-expected US car sales data and a new strike in South Africa, this one by engineers and metalworkers organized by the National Union of Metalworkers of South Africa (NUMSA), lured buyers into both markets.
On Monday, June 30, the day’s biggest mover was US palladium bar, which saw a 1.3 percent increase to $845.00 per ounce. Chinese palladium bar gained 0.5 percent to finish at CNY 187.00 ($30.06) per gram. The price of Japanese palladium bar fell 0.4 percent on Monday, just off the 30-day high of JPY 2,756 ($27.17) per gram it hit the day prior.
US platinum bar prices rose 1.2 percent to $1,481 per ounce. The price of Chinese platinum bar increased 0.6 percent to CNY 314.00 ($50.48) per gram. Japanese platinum bar saw its price rise 0.3 percent to JPY 4,832 ($47.63) per gram.
The price of Japanese gold bullion fell 0.5 percent to JPY 4,284 ($42.23) per gram. Indian gold bullion finished the day down 0.5 percent to INR 27,705 ($461.44) per 10 grams. The price of Chinese gold bullion declined 0.3 percent to CNY 262.50 ($42.20) per gram. US gold bullion saw little change in its price on Monday at $1,317 per ounce.
After improving for two days, the price of US silver declined 1.2 percent to $20.87 per ounce. Weakening prices followed two days of improvement as the price of Indian silver dropped 0.6 percent to INR 45,803 ($762.87) per kilogram. The price of Japanese silver closed at JPY 680.00 ($6.70) per 10 grams. Following a couple days of improvement, prices fell by 0.4 percent. Chinese silver prices saw a 0.2 percent decline to CNY 4,290 ($689.64) per kilogram.