Chinese Silver Sees Large Decrease

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With a decline of 4.9 percent to CNY 5,680 ($896) per kilogram on May 30, 2012, Chinese silver recorded the biggest price shift of the day. The price of US silver closed at $27.65 per ounce. Following a couple days of improvement, the metal’s price weakened by 3.2 percent. Japanese silver prices saw a 2.6 percent decline to JPY 708.00 ($8.90) per 10 grams. The price of Indian silver fell 1.2 percent to INR 53,314 ($957) per kilogram.

Japanese gold bullion finished the day down 1.7 percent to JPY 3,966 ($49) per gram. At CNY 318.30 ($50.27) per gram, Chinese gold bullion fell 1.5 percent on Wednesday. The price of Indian gold bullion declined 0.6 percent to INR 28,970 ($520) per 10 grams, after two days of improvement. The price of US gold bullion saw little movement at $1,543 per ounce.

Following two days of rising prices, the price of US platinum bar dropped 3.1 percent to $1,394 per ounce. The price of Japanese platinum bar declined 1.5 percent to JPY 3,620 ($45) per gram. The price of Chinese platinum bar closed at CNY 310.00 ($48.95) per gram. Following a couple days of improvement, prices fell by 0.6 percent.

Weakening prices followed two days of improvement as the price of US palladium bar dropped 2.5 percent to $593.00 per ounce. Japanese palladium bar ended the day at JPY 1,536 ($19) per gram, after the 0.8 percent drop yesterday. The price of Chinese palladium bar flattened at CNY 146.00 ($23.06) after two days of improvement.

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