Correction: This article has been updated to reflect a revised Global Precious Metals MMI index value due to a formula error. We apologize for any inconvenience this may have caused.
The monthly Global Precious Metals MMI® registered a value of 111 in December, one point above November’s value.
The global precious metals monthly price index exhibited some unusual behavior this month, despite the nearly flat reading of 111.
All metals covered by the index, including gold, silver, platinum and palladium, dropped for all regions covered – India, China and Japan — with support only coming from the United States, whose prices for each of the four metals increased from the previous month.
“The global precious metals index will win the award of ‘most volatile index’ within the MetalMiner MMI series for 2012,” said Lisa Reisman, managing editor of MetalMiner.
“The November-to-December time period represented the only flat reading for this index value throughout 2012,” Reisman noted.
Select Price Drivers of the Precious Metals Index
The US gold bullion price ticked up 1 percent, to $1,726 per ounce, while US silver prices increased 3.5 percent to $33.40 per ounce.
The biggest drop was sustained by Japanese palladium bars, falling 7.4 percent.
The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends over a 30-day period. 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.