The week’s biggest mover on the Global Precious Metals MMI® was the price of US palladium bar, which saw a three percent increase to $613.00 per ounce. This comes on the heels of a 8.3 percent decline the week prior. The price of Chinese palladium bar fell 0.3 percent over the past week to CNY 146.50 ($23.16) per gram. This was the third week in a row of declining prices. Japanese palladium bar prices were off slightly at JPY 1,547 ($19) per gram, down from JPY 1,552 ($19) a week ago.
The price of US platinum bar rose 1.3 percent to $1,461 per ounce after falling 5.3 percent during the previous week. The price of Japanese platinum bar dropped 0.7 percent this week, closing out the third consecutive week of falling prices at JPY 3,737 ($47) per gram. For the third week in a row, the price of Chinese platinum bar dropped, falling 0.3 percent to CNY 317.50 ($50.19) per gram.
The price of Indian gold bullion rose 2.8 percent to INR 29,012 ($532) per 10 grams after falling 2.8 percent during the previous week. The price of US gold bullion rose 2.3 percent to $1,592 per ounce after falling 4.9 percent during the previous week. The price of Chinese gold bullion rose 0.7 percent to CNY 325.97 ($51.53) per gram after falling 2.9 percent during the previous week. The price of Japanese gold bullion rose 0.4 percent to JPY 4,077 ($51) per gram after falling 3.5 percent during the previous week.
Closing out the third week of declining prices, the price of Japanese silver dropped by 2.2 percent, finishing at JPY 722.00 ($9.10) per 10 grams. The price of Indian silver rose 1.5 percent to INR 53,656 ($985) per kilogram after falling 4.8 percent during the previous week. At CNY 6,000 ($948) per kilogram, the price of Chinese silver finished the week down 1.3 percent. Following a steady week, prices for US silver closed flat at $28.35 per ounce.
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.