Metal Prices Changeable Following Japan Quake

Earthquake and tsunami in Japan have an impact on changes in market prices of precious metals. The gold price is schdeuled to gain for a second day as unrest in the Middle East and North Africa, and Japan’s nuclear crisis boost demand for a protection of wealth. Platinum and palladium have touched three-month lows, reports Bloomberg.

Immediate-delivery gold bullion in fact declined $1.24, or 0.1 percent, to $1,397.64 (£865) an ounce according to the FTSE in London this morning. Gold for April delivery was 0.1 percent higher at $1,398 (£866) an ounce on the Comex in New York.

Demand for precious metals has been changeable in the past few weeks, with demand for silver rising 0.4 percent to $34.3625 (£21.28) an ounce. The silver price has dropped 6.5 percent since climbing to $36.7525 (£22.76) last week, the highest level since February 1980, when the metal reached a record $50.35 (£31.19) in New York.

Palladium was up 1.3 percent at $707.50 (£438) an ounce after earlier today falling to $688.25, the lowest level since November 30. Palladium had slumped 18 percent since hitting its highest price in a decade last month.

Bloomberg also reported, Platinum has dropped as much as 2.2 percent to $1,657.75 (£1,026) an ounce, the lowest price since December 1, and was last little changed at $1,695.57 (£1,050) yesterday.

Lady Gaga Creates Bracelet for Japan

Pop star Lady Gaga has showed her support for victims of the tsunami in Japan by creating a fundraising bracelet.

The star, famous for hits such as Poker Face as well as her outrageous sense of style, is now selling a simple white bangle on her website with the message “Pray for Japan” in English and Japanese and an image of a hand.

The price has been set at US$5 but the site is urging shoppers to increase the amount they pay at the checkout to help raise cash for Japan relief efforts, to which it claims all the proceeds from the bangles will go.

Lady Gaga’s website sells a vast selection of official merchandise, including jewellery. Some of the jewellery on sale at the site ladygaga.shop.bravadousa.com, includes necklaces with key, moniker, telephone and cross charms, as well as a rose motif ring in the style of Lola Rose.

Japanese Diamond Industry Escapes Deadly Tsunami

The earthquake and resulting tsunami that swept through Japan has caused thousands of fatalities. No members of the Japanese diamond industry have been hurt by the tsunami that has ravaged the country, according to the World Federation of Diamond Bourses (WFDB).

The WFDB said that to its knowledge no members of the Japanese diamond trade have been affected by the earthquake and resulting tsunami that led to the death of thousands of Japanese people last week. The WFDB added that it would be offering support to the Tokyo Diamond Exchange.

WDFB president Avi Paz said: "We have all been shocked and horrified by the pictures we have seen following the earthquakes and the tsunami. Our hearts go out to the people of Japan at this terrible time, particularly to the families of those who have perished.

"The WFDB is a global family and we all come together at times like these. On behalf of the WFDB, I would like to send my heartfelt best wishes for a speedy recovery, and to offer any help and support to our colleagues in Japan, particularly to our friends and colleagues at the Tokyo Diamond Exchange."