Indian Silver Rises 2.0%

With a 2.0 percent increase on Thursday, January 9, Indian silver was the biggest mover on the Global Precious Metals MMI®. US silver prices weakened by 1.6 percent, settling at $19.52 per ounce. This marked the fifth day in a row of declining prices and the drop-off has accelerated since Friday, January 3. The price of Japanese silver fell 1.2 percent to JPY 666.00 ($6.35) per 10 grams. Chinese silver ended the day at CNY 3,975 ($656.80) per kilogram, after the 0.9 percent drop yesterday.

The price of Japanese gold bullion closed at JPY 4,138 ($39.47) per gram. Following a couple days of improvement, prices fell by 1.1 percent. The price of Indian gold bullion increased 1.0 percent to INR 28,275 ($455.12) per 10 grams. US gold bullion prices saw a 0.5 percent decline to $1,226 per ounce. The price of Chinese gold bullion declined 0.4 percent to CNY 241.78 ($39.95) per gram.

After a 0.3 percent increase, Chinese platinum bar finished the day at CNY 295.00 ($48.74) per gram. US platinum bar held its value on Thursday at $1,414 per ounce. The price of Japanese platinum bar steadied at JPY 4,756 ($45.36) per gram following two-days of increases.

At JPY 2,490 ($23.75), the price of Japanese palladium bar finished the market day up 1.6 percent per gram. Weakening prices followed two days of improvement as the price of US palladium bar dropped 0.7 percent to $735.00 per ounce. The price of Chinese palladium bar held steady at CNY 163.00 ($26.93) per gram.