Indian Silver Changes Directions

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Metal Prices, Premium

The price of Indian silver closed as the biggest mover for Friday, September 6. Switching from a downward trend, the metal closed at INR 56,740 ($861.42) per kilogram following a 5.8 percent increase. Chinese silver prices saw a 1.9 percent decline to CNY 4,650 ($759.79) per kilogram. The price of US silver declined 1.1 percent to $23.21 per ounce. Following two days of downward movement, the price of Japanese silver held steady at JPY 753.00 ($7.52) per 10 grams.

US gold bullion prices saw a 1.7 percent decline to $1,368 per ounce. Following a two-day drop, the price of Indian gold bullion increased by 1.4 percent to INR 32,235 ($489.39) per 10 grams. Chinese gold bullion ended the day at CNY 273.05 ($44.61) per gram, after the 1.2 percent drop last Friday. At JPY 4,446 ($44.40) per gram, the price of Japanese gold bullion was essentially unchanged.

Chinese platinum bar closed 1.3 percent lower at CNY 310.00 ($50.65) per gram. The price of US platinum bar declined 0.5 percent to $1,483 per ounce. The price of Japanese platinum bar held steady at JPY 4,820 ($48.14) per gram.

US palladium bar finished the day down 1.6 percent to $685.00 per ounce. The price of Chinese palladium bar fell 0.6 percent to CNY 153.00 ($25.00) per gram. After a couple of days of decreasing prices, the price of Japanese palladium bar held steady at JPY 2,249 ($22.46).