PGM Market Update
US palladium bar’s 8.3 percent decline made it this week’s biggest mover on the Global Precious Metals MMI® , closing at $595.00 per ounce. The price of Japanese palladium bar dropped 7.1 percent this week, closing out the third consecutive week of falling prices at JPY 1,552 ($19) per gram. The price of Chinese palladium bar fell 5.8 percent over the past week to CNY 147.00 ($23.30) per gram. This was the third week in a row of declining prices.
US platinum bar weakened by 5.3 percent to land at $1,442 per ounce. The price of Japanese platinum bar decreased to JPY 3,764 ($47) per gram, a 3.2 percent decline from the previous week. Closing out the third week of declining prices, the price of Chinese platinum bar dropped by three percent, finishing at CNY 318.50 ($50.47) per gram.
Gold and Silver Markets
US gold bullion finished the week at $1,557 per ounce after falling 4.9 percent. The price of Japanese gold bullion dropped 3.5 percent this week, closing out the third consecutive week of falling prices at JPY 4,062 ($50) per gram. After a 2.9 percent decline, Chinese gold bullion closed out the week at CNY 323.70 ($51.30) per gram. Indian gold bullion saw a 2.8 percent decline over the past week to INR 28,224 ($526) per 10 grams.
US silver saw a 5.4 percent drop-off this week to end at $28.33 per ounce. The price of Indian silver fell 4.8 percent to INR 52,859 ($985) per kilogram after rising 0.3 percent the week before. The price of Chinese silver fell 4.6 percent over the past week to CNY 6,080 ($963) per kilogram. This was the third week in a row of declining prices. Closing out the third week of declining prices, the price of Japanese silver dropped by 3.8 percent, finishing at JPY 738.00 ($9.23) per 10 grams.
The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends. For more information on the Global Precious Metals MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.