Global Precious Metals MMI®: US Silver Falls Nearly 6% For The Week

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The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US silver, which saw a 5.9 percent decline to $26.86 per ounce. This comes on the heels of a 0.5 percent increase the week before.

Japanese silver finished the week at JPY 685.00 ($8.53) per 10 grams after falling 5.3 percent. Chinese silver dropped 5.1 percent over the past week to CNY 5,720 ($898) per kilogram. Indian silver weakened by 3.4 percent to land at INR 52,496 ($918) per kilogram.

Following a 1.4 percent increase in the week prior, the price of Chinese gold bullion fell 2.6 percent last week to CNY 323.71 ($50.86) per gram. The price of Japanese gold bullion fell two percent to JPY 4,046 ($50) per gram after rising 0.9 percent the week before. Following a 1.7 percent increase in the week prior, the price of Indian gold bullion fell 0.8 percent last week to INR 29,838 ($522) per 10 grams. Following a steady week, prices for US gold bullion closed flat at $1,543 per ounce.

The price of Chinese platinum bar fell 3.8 percent to CNY 314.50 ($49.41) per gram after rising 3.2 percent the week before. Following a 2.8 percent increase in the week prior, the price of US platinum bar fell 3.4 percent last week to $1,431 per ounce. The price of Japanese platinum bar fell 2.7 percent to JPY 3,706 ($46) per gram after rising 2.3 percent the week before.

Following a 1.3 percent increase in the week prior, the price of Chinese palladium bar fell 3.9 percent last week to CNY 147.00 ($23.10) per gram. The price of US palladium bar fell 3.8 percent to $605.00 per ounce after rising 1.9 percent the week before. Following a 0.6 percent increase in the week prior, the price of Japanese palladium bar fell 3.4 percent last week to JPY 1,568 ($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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