Global Precious Metals MMI®: Japanese Palladium Bar Falls 3.8% for the Week

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 3.8 percent decline to JPY 1,788 ($21.24) per gram. This comes on the heels of a 2.9 percent increase the week before. Closing out the fifth week of rising prices, the price of US palladium bar gained 0.6 percent, finishing at $701.00 per ounce. The price of Chinese palladium bar fell 0.3 percent to CNY 165.50 ($26.50) per gram after rising 2.5 percent the week before.

The price of Japanese platinum bar rose 1.7 percent this week, closing out the fifth consecutive week of elevating prices at JPY 4,366 ($51.87) per gram. The price of US platinum bar rose 0.6 percent over the past week to $1,615 per ounce. This was the fifth week in a row of increasing prices. Following a 0.4 percent increase in the week prior, the price of Chinese platinum bar fell 0.4 percent last week to CNY 343.00 ($54.92) per gram.

The price of Indian gold bullion dropped 0.9 percent this week, closing out the third consecutive week of falling prices at INR 30,885 ($566.85) per 10 grams. The price of Japanese gold bullion rose 0.9 percent to JPY 4,567 ($54.26) per gram after falling 0.5 percent during the previous week. For the third week in a row, the price of Chinese gold bullion dropped, falling 0.6 percent to CNY 340.00 ($54.44) per gram. After a 0.5 percent decline, US gold bullion closed out the week at $1,696 per ounce.

Chinese silver fell 2.5 percent over the past week to CNY 6,520 ($1,044) per kilogram. US silver saw a 2.4 percent decline over the past week to $32.31 per ounce. The price of Indian silver declined 2.2 percent over the past week, settling at INR 60,040 ($1,102) per kilogram. Japanese silver prices were off slightly at JPY 864.00 ($10.27) per 10 grams, down from JPY 877.00 ($10.62) a week ago.

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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