Global Precious Metals MMI®: US Gold Bullion Falls 3.1% For The Week

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The week’s biggest mover on the Global Precious Metals MMI® was the price of US gold bullion, which saw a 3.1 percent decline to $1,543 per ounce. This comes on the heels of a 2.3 percent increase the week before.

The price of Japanese gold bullion fell 1.1 percent to JPY 4,032 ($50) per gram after rising 0.4 percent the week before. Following a 0.7 percent increase in the week prior, the price of Chinese gold bullion fell 0.9 percent last week to CNY 323.10 ($51.01) per gram. Indian gold bullion traded sideways last week, hovering around INR 29,030 ($523) per 10 grams.

Silver prices, however, increased, while PGM prices fell.

The price of Japanese silver rose 0.7 percent to JPY 727.00 ($9.14) per 10 grams after falling 2.2 percent during the previous week. The price of Indian silver rose 0.6 percent over the past week to INR 53,973 ($974) per kilogram. This was the third week in a row of increasing prices. US silver rose 0.4 percent over the past week to $28.45 per ounce. For the third week in a row, the price of Chinese silver dropped, falling 0.2 percent to CNY 5,990 ($945) per kilogram.

The price of Chinese platinum bar fell 1.9 percent over the past week to CNY 311.50 ($49.18) per gram. This was the third week in a row of declining prices. The price of US platinum bar fell 1.8 percent to $1,435 per ounce after rising 1.3 percent the week before. The price of Japanese platinum bar dropped 1.6 percent this week, closing out the third consecutive week of falling prices at JPY 3,678 ($46) per gram.

At CNY 143.50 ($22.65) per gram, the price of Chinese palladium bar finished the week down two percent. Following a three percent increase in the week prior, the price of US palladium bar fell 1.8 percent last week to $602.00 per ounce. Closing out the third week of declining prices, the price of Japanese palladium bar dropped by 0.8 percent, finishing at JPY 1,534 ($19) per gram.

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.

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