Japanese Gold Bullion Declines With Rest of its Economy

Japanese annual core consumer inflation slowed for a 4th straight month in November due largely to sliding oil prices, highlighting the challenges the central bank faces in achieving its 2% inflation target.

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Factory output unexpectedly fell and real wages marked the steepest drop in five years, underscoring the fragility of the recovery and dealing a blow to premier Shinzo Abe’s stimulus policies aimed at pulling the economy out of stagnation.

On Thursday, December 25, the day’s biggest mover was the price of Japanese gold bullion, which saw a 0.9% decline to JPY 4,556 ($37.83) per gram. At CNY 236.30 ($37.99) per gram, the price of Chinese gold bullion was essentially unchanged. The price of US gold bullion remained essentially flat at $1,177 per ounce. The price of Indian gold bullion remained steady at INR 27,106 ($427.05) per 10 grams.

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At JPY 610.00 ($5.07) per 10 grams, Japanese silver fell 0.7% yesterday. The price of Chinese silver fell 0.4% to CNY 3,370 ($541.84) per kilogram. Indian silver saw little change in its price yesterday at INR 37,026 ($583.34) per kilogram. Following a two-day rise, the price of US silver flattened at $15.79.

Chinese platinum bar prices rose 0.4% to CNY 255.00 ($41.00) per gram. Today marks the fifth day in a row of declining prices for Japanese platinum bar. After falling 0.2%, prices settled at JPY 4,597 ($38.18) per gram, driving an accelerated drop-off since Friday, December 19. US platinum bar stayed flat at around $1,187 per ounce.

Weakening prices followed two days of improvement as the price of Chinese palladium bar dropped 0.6% to CNY 180.00 ($28.94) per gram. Japanese palladium bar prices saw a 0.3% decline to JPY 3,135 ($26.03) per gram. The price of US palladium bar remained essentially flat at $811.00 per ounce.

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