Chinese Silver Up for Third Straight Week on Precious Metal Price Index

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The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Chinese silver, which saw a 6.8 percent increase to CNY 7,065 ($1,115) per kilogram. This week marked the third in a row of rising prices for the metal.

Closing out the third week of rising prices, the price of Japanese silver increased by 6.5 percent, landing at JPY 846.00 ($10.81) per 10 grams. The price of Indian silver increased 5.2 percent this week, closing out the fourth consecutive week of rising prices at INR 62,050 ($1,119) per kilogram. Finishing the fourth week of rising prices, the price of US silver increased by 3.9 percent, finishing at $33.34 per ounce.

The price of Indian gold bullion rose 2.7 percent over the past week to INR 31,962 ($576.46) per 10 grams, the fourth week in a row of increasing prices. The price of Japanese gold bullion rose 2.7 percent over the past week to JPY 4,370 ($55.86) per gram, the third week in a row of rising prices. The price of Chinese gold bullion rose 2.6 percent this week, closing out the third week of rises at CNY 354.40 ($55.91) per gram. At $1,725 per ounce, the price of US gold bullion finished the week 1.9 percent higher.

The price of Chinese platinum bar rose 4 percent to CNY 335.00 ($52.85) per gram after falling 1.5 percent during the previous week. The price of Japanese platinum bar rose 3.2 percent to JPY 4,030 ($51.51) per gram after falling 0.2 percent during the previous week. Finishing the fourth week of rising prices, the price of US platinum bar increased by 2.9 percent, finishing at $1,590 per ounce.

The price of US palladium bar rose 5.9 percent to $665.00 per ounce after falling 2.9 percent during the previous week. The price of Japanese palladium bar rose 4.7 percent to JPY 1,659 ($21.20) per gram after falling 4.8 percent during the previous week. The price of Chinese palladium bar rose 3.9 percent to CNY 158.00 ($24.93) per gram after falling 3.8 percent during the previous week.

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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