Prices for platinum and palladium fell to new lows Thursday, as slowing growth in Europe and China sparked concerns about demand for the precious metals.
The most actively traded platinum futures contract fell to its lowest level since Sept. 4, 2009. January platinum settled down $19.20, or 1.5%, to $1,270.40 a troy ounce on the Comex division of the New York Mercantile Exchange. Palladium fell 2% to $768.65 a troy ounce, the lowest price since April 7.
Closing at $1,276 per ounce on Thursday, October 2, US platinum bar saw the biggest change at a 1.4%. The price of Chinese platinum bar remained steady at CNY 275.00 ($44.80) per gram. Japanese platinum bar held its value yesterday at JPY 4,532 ($41.57) per gram.
US palladium bar gained 0.8% to finish at $774.00 per ounce. Japanese palladium bar stayed flat at around JPY 2,790 ($25.59) per gram. Chinese palladium bar saw little change in its price yesterday at CNY 175.00 ($28.51) per gram.
Following a 0.4% rise yesterday, the price of US gold bullion closed at $1,213 per ounce. The price of Chinese gold bullion remained essentially flat at CNY 241.56 ($39.35) per gram. The price of Indian gold bullion ended a two-day climb, settling at INR 27,000 ($437.62) per 10 grams. The price of Japanese gold bullion held steady at JPY 4,262 ($39.09) per gram.
After falling for two days, the price of US silver rose 1.2% to $17.18 per ounce. The price of Chinese silver showed little movement yesterday at CNY 3,930 ($640.28) per kilogram. After dropping for two days, the price of Indian silver flattened at INR 38,859 ($629.83). At JPY 608.00 ($5.58) per 10 grams, the price of Japanese silver was essentially unchanged.