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Precious Metals Experience Gains Following Weak Jobs Data

Published 04/08/2014, 12:55 AM
Updated 07/09/2023, 06:31 AM

Precious metals had some previous gains erased last Friday after weaker-than-expected US jobs data in the monthly Non-Farm Payrolls report came out.

March’s NFP report from the Department of Labor came in with 192,000 jobs added to US payrolls. Average analyst expectations were for 200,000 and some were looking for as high as 275,000. Stronger job growth might have allowed silver and gold’s rally to continue.

With a decline of 2.2% on Friday, Indian silver recorded the biggest price drift of the day. Japanese silver finished the day up 1.5%. US silver ended the day after the 0.8% drop. Chinese silver prices saw a 0.2% decline.

Prices for Japanese gold bullion have gained rising momentum since Monday, March 31. The metal settled up 0.9%. Chinese gold bullion fell 0.3% last Friday. The price of US gold bullion declined 0.2%. The price of Indian gold bullion finished the market day up 0.2% per 10 grams.

Japanese platinum bar gained 0.8%. US platinum bar prices inched up 0.3%. The price of Chinese platinum bar increased 0.3%.

Japanese palladium bar saw its price rise 1.7%. The price of US palladium bar finished the market day up 0.3% per ounce. The price of Chinese palladium bar showed little movement last Friday.

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