Silver and Gold Gain In Last Daily Session of 2014

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Gold Prices Going Up

Gold and silver gained as the year ended although both metals face an uncertain new year as the US dollar continues to strengthen weakening their appeal as investments.

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Platinum and palladium also saw gains nearly across the board to close out the year.

Following a two-day decline, the price of US silver climbed up 2.9% to end at $16.27 per ounce on Wednesday, December 31. After a 1.5% increase, Indian silver finished the day at INR 37,880 ($597.95) per kilogram. The price of Chinese silver increased 1.5% to CNY 3,450 ($556.25) per kilogram. Following a two-day rise, the price of Japanese silver flattened at JPY 620.00 ($5.19).

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After falling for two days, the price of US gold bullion rose 1.5% to $1,200 per ounce. Chinese gold bullion gained 0.8% to finish at CNY 240.50 ($38.78) per gram. Indian gold bullion prices inched up 0.5% to INR 27,260 ($430.31) per 10 grams. The price of Japanese gold bullion flattened at JPY 4,619 ($38.66) after two days of improvement.

The price of US platinum bar rose 1.5% to $1,210 per ounce after a two-day drop. Chinese platinum bar finished the day up 0.4% to CNY 259.00 ($41.76) per gram. After a couple of days of improving prices, the price of Japanese platinum bar held steady at JPY 4,692 ($39.27).

At CNY 179.00 ($28.86) per gram, Chinese palladium bar fell 0.6% on Wednesday. The price of Japanese palladium bar ended a two-day climb, settling at JPY 3,203 ($26.81) per gram. After dropping for two days, the price of US palladium bar flattened at $808.00.

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