Gold’s Volatility at Lowest Level Since 2010

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Gold Prices Going Up

Gold volatility slumped to a 44-month low before the Federal Reserve concludes a two-day policy meeting today.

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The 60-day historical volatility dropped to 11.4, the lowest since Oct. 18, 2010, according to data compiled by Bloomberg. Gold futures traded in a range of $45 an ounce this month, compared with $74 in May.

On Wednesday, June 18, Japanese gold bullion fell by 1.3 percent to JPY 4,145 ($40.56) per gram, making it the day’s biggest mover. At INR 26,880 ($445.61) per 10 grams, Indian gold bullion fell 0.2 percent yesterday. The price of US gold bullion remained essentially flat at $1,272 per ounce. The price of Chinese gold bullion showed little movement yesterday at CNY 254.00 ($40.79) per gram.

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Japanese silver prices inched up 0.5 percent to JPY 642.00 ($6.28) per 10 grams. US silver gained 0.5 percent to finish at $19.76 per ounce. At CNY 4,140 ($664.87), the price of Chinese silver finished the market day up 0.4 percent per kilogram. Indian silver finished the day up 0.2 percent to INR 43,288 ($717.61) per kilogram.

The price of Japanese platinum bar declined 0.7 percent to JPY 4,703 ($46.02) per gram. The price of US platinum bar rose 0.4 percent to $1,436 per ounce after a two-day drop. Chinese platinum bar prices rose 0.3 percent to CNY 306.00 ($49.14) per gram.

Following a 0.7 percent rise on Wednesday, the price of US palladium bar closed at $815.00 per ounce. Chinese palladium bar saw its price rise 0.5 percent to CNY 184.00 ($29.55) per gram. The price of Japanese palladium bar fell 0.4 percent to JPY 2,700 ($26.42) per gram.

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