US Silver Rises 4.2%, Canadian Mining Stocks Jump

Stock futures pointed to a higher start for Canada’s main stock index on Tuesday as prices of commodities, including gold and oil, stabilized after China’s economic growth in the fourth quarter came slightly better than the markets had expected.

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March futures on the S&P TSX index were up 0.69% at 7.15 a.m. ET.

On Monday, January 19, US silver jumped up 4.2%, landing at $17.68 per ounce and making it the day’s biggest increase. The price of Chinese silver jumped 3.2% to CNY 3,685 ($593.59) per kilogram. Indian silver prices inched up 2.3% to INR 39,490 ($638.27) per kilogram. Japanese silver finished the day up 0.2% to JPY 630.00 ($5.36) per 10 grams.

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Chinese gold bullion gained 1.8% to finish at CNY 255.78 ($41.20) per gram. Indian gold bullion saw its price rise 1.3% to INR 27,950 ($451.75) per 10 grams. After a 1.2% increase, Japanese gold bullion finished the day at JPY 4,706 ($40.03) per gram. The price of US gold bullion increased 0.8% to $1,273 per ounce.

At CNY 268.00 ($43.17), the price of Chinese platinum bar finished the market day up 1.1% per gram. Japanese platinum bar prices rose 0.7% to JPY 4,688 ($39.88) per gram. US platinum bar prices inched up 0.2% to $1,261 per ounce.

At JPY 2,980 ($25.35) per gram, Japanese palladium bar fell 2.9% last Friday. Chinese palladium bar prices saw a 1.7% decline to CNY 170.00 ($27.38) per gram. The price of US palladium bar fell 0.9% to $757.00 per ounce.

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