Gold Strengthens As Speculators See a Bargain; Positive Day for Silver, Too

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Gold, silver and bronze

Gold showed some slight gains as some investors saw a bargain in the wake of recent declines, while platinum closed near a nine-month low as worries about demand weighed on investor interest.

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A slight pullback in the dollar, which eased against a basket of international currencies, helped boost gold’s appeal to foreign buyers. The ICE Dollar Index was recently trading at 84.22, down from 84.40 earlier, the Wall Street Journal reported.

On Tuesday, September 16, the day’s biggest mover was Indian gold bullion, which saw a 0.4 percent increase to INR 27,231 ($445.93) per 10 grams. Chinese gold bullion gained 0.3 percent to finish at CNY 245.05 ($39.90) per gram. The price of US gold bullion flattened at $1,233 per ounce after two days of downward movement. After a couple of days of decreasing prices, the price of Japanese gold bullion held steady at JPY 4,259 ($39.75).

After a 0.4 percent increase, Chinese silver finished the day at CNY 4,135 ($673.23) per kilogram. After falling for two days, the price of US silver rose 0.2 percent to $18.66 per ounce. Indian silver prices inched up 0.2 percent to INR 41,469 ($679.10) per kilogram. At JPY 639.00 ($5.96) per 10 grams, the price of Japanese silver was essentially unchanged.

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The price of US platinum bar fell 0.1 percent to $1,358 per ounce. Chinese platinum bar stayed flat at around CNY 287.00 ($46.73) per gram. The price of Japanese platinum bar showed little movement on Tuesday at JPY 4,693 ($43.80) per gram.

US palladium bar closed 0.1 percent lower at $832.00 per ounce. The price of Japanese palladium bar held steady at JPY 2,947 ($27.50) per gram. At CNY 184.00 ($29.96) per gram, the price of Chinese palladium bar was essentially unchanged.

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