silver price

The price of Indian silver closed up June 19, 2012 at INR 54,890 ($980) per kilogram, halting two days of weakening prices with a one percent shift. At $28.76, the price of US silver finished the market day up 0.7 percent per ounce. The price of Chinese silver rose 0.4 percent to CNY 6,050 ($951) per kilogram after a two-day drop. The price of Japanese silver flattened at JPY 723.00 ($9.15) following two-days of declines.

Indian gold bullion gained 0.5 percent to finish at INR 30,251 ($540) per 10 grams. After a 0.2 percent increase, Japanese gold bullion finished the day at JPY 4,137 ($52) per gram. Chinese gold bullion prices inched up 0.2 percent to CNY 333.00 ($52.37) per gram. The price of US gold bullion remained essentially flat at $1,543 per ounce.

So what did the platinum and palladium price trends look like?

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On June 15, 2012, Chinese palladium bar jumped up 2.7 percent, landing at CNY 153.00 ($24.18) per gram and making it the day’s biggest increase. Japanese palladium bar gained 2.1 percent to finish at JPY 1,629 ($20) per gram. US palladium bar prices rose 1.6 percent to $634.00 per ounce.

Chinese platinum bar saw its price rise 2.1 percent to CNY 325.30 ($51.41) per gram. US platinum bar prices inched up 0.9 percent to $1,492 per ounce. Japanese platinum bar finished the day up 0.3 percent to JPY 3,784 ($47) per gram.

Silver and gold fared relatively well also.

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The price of US silver fell two percent on June 14, 2012 to $28.48 per ounce, making it the day’s biggest mover. The price of Indian silver rose by 0.5 percent to INR 54,789 ($985) per kilogram. Japanese silver finished the day up 0.1 percent to JPY 736.00 ($9.24) per 10 grams. The price of Chinese silver showed little movement on Thursday at CNY 6,070 ($955) per kilogram.

After a 0.8 percent increase, Indian gold bullion finished the day at INR 30,028 ($540) per 10 grams. Chinese gold bullion prices inched up 0.5 percent to CNY 331.70 ($52.23) per gram. The price of Japanese gold bullion increased 0.4 percent to JPY 4,132 ($51) per gram. The price of US gold bullion was unchanged at $1,543 per ounce.

PGMs, meanwhile, saw mixed closing price results.

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US platinum bar saw the biggest upwards shift for the day, rising 1.9 percent to close at $1,466 per ounce on June 13, 2012. The price of Japanese platinum bar increased 1.7 percent to JPY 3,717 ($46) per gram. Chinese platinum bar finished the day up 1.3 percent to CNY 317.00 ($49.75) per gram.

The price of US palladium bar rose 1.3 percent to $624.00 per ounce after a two-day drop. At JPY 1,596 ($20), the price of Japanese palladium bar finished the market day up 0.8 percent per gram. The price of Chinese palladium bar showed little movement on Wednesday at CNY 150.00 ($23.54) per gram.

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Japanese platinum bar saw the biggest price shift of the day, dropping 1.9 percent to close at JPY 3,654 ($46) per gram on June 12, 2012. Chinese platinum bar closed 1.3 percent lower at CNY 313.00 ($49.32) per gram. The price of US platinum bar closed at $1,438 per ounce. Following a couple days of improvement, prices fell by 0.1 percent.

Japanese palladium bar finished the day down 1.9 percent to JPY 1,583 ($19) per gram. Chinese palladium bar prices saw a 0.7 percent decline to CNY 150.00 ($23.64) per gram. At $616.00 per ounce, US palladium bar fell 0.2 percent yesterday.

Some silver and gold prices were also down on the day.

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The week’s biggest mover on the Global Precious Metals MMI® was the price of Japanese silver, which saw a 5.6 percent increase to JPY 734.00 ($9.25) per 10 grams. This comes on the heels of a 2.8 percent decline the week prior.

The price of Chinese silver rose 3.8 percent to CNY 6,060 ($950) per kilogram after falling 0.9 percent during the previous week. The price of Indian silver rose 3.3 percent to INR 54,520 ($982) per kilogram after falling 1.4 percent during the previous week. The price of US silver fell 0.5 percent to $28.40 per ounce after rising 0.9 percent the week before.

Gold, platinum and palladium prices followed suit as well.

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For investors in precious metals, especially gold, returns on their investment may be looking quite good, according to Goldman Sachs. Bloomberg reported this morning that Goldman expects investors to get returns of 18 percent on precious metals over the next year. And a separate Bloomberg report outlined how China is pushing for more gold investment, soon to overtake India as the No. 1 bullion market.

Don’t tell that to the Asian gold markets just yet, however.

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The monthly Global Precious Metals MMI® registered a value of 101 in June, a decrease of 7.3 percent from 109 in May.

Not surprisingly, the Global Precious Metals MMI® has held up the best of all the MMIs throughout 2012, despite the most recent drop from May 1 to June 1. This is the only MMI report in the series that maintains a reading above 100. The Global Precious Metals MMI® baseline began on Jan. 1, 2012, with a reading of 100. This report serves as the first public release of this data.

Source: MetalMiner IndX℠

For more commentary and price point drivers of the index, click below.

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With a 2.3 percent increase on June 6, 2012, Indian silver was the biggest mover on the Global Precious Metals MMI®. Japanese silver prices rose 2.3 percent to JPY 727.00 ($9.29) per 10 grams. The price of US silver increased one percent to $28.53 per ounce. Chinese silver prices inched up 0.9 percent to CNY 6,035 ($947) per kilogram.

Transactional prices of gold rose as well.

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Following two days of increases, the price of US silver dropped by 1.5 percent to end at $28.26 per ounce on June 5, 2012. The price of Japanese silver increased 0.6 percent to JPY 711.00 ($9.10) per 10 grams. At INR 53,631 ($963) per kilogram, Indian silver fell 0.4 percent yesterday. Chinese silver prices rose 0.3 percent to CNY 5,980 ($939) per kilogram.

Indian gold bullion finished the day down 0.5 percent to INR 29,754 ($534) per 10 grams. Japanese gold bullion ended the day at JPY 4,077 ($52) per gram, after the 0.2 percent drop on Tuesday. The price of Chinese gold bullion fell 0.1 percent to CNY 332.30 ($52.22) per gram. The price of US gold bullion remained essentially flat at $1,543 per ounce.

Meanwhile, most platinum and palladium prices were up — save for the US market.

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