Global Precious Metals MMI®: 5.8% Decrease for Japanese Silver

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The biggest mover this week was Japanese silver with a 5.8 percent fall on the weekly Global Precious Metals MMI® to close the week at JPY 854.00 ($9.11) per 10 grams. Closing out the third week of declining prices, the price of US silver dropped by 5.2 percent, finishing at $29.80 per ounce. Following a 0.2 percent increase in the week prior, the price of Chinese silver fell 4.8 percent last week to CNY 6,100 ($978.98) per kilogram. Indian silver weakened by 3.1 percent to land at INR 55,837 ($1,030) per kilogram.

The price of US gold bullion fell 3.4 percent to $1,610 per ounce after rising 0.2 percent the week before. Following a 0.3 percent increase in the week prior, the price of Chinese gold bullion fell 3.3 percent last week to CNY 326.70 ($52.43) per gram. The price of Japanese gold bullion fell 2.7 percent to JPY 4,879 ($52.05) per gram after rising 0.5 percent the week before. Following a 0.9 percent increase in the week prior, the price of Indian gold bullion fell 1.9 percent last week to INR 29,821 ($549.91) per 10 grams.

The price of Chinese platinum bar fell 2.0 percent to CNY 361.00 ($57.94) per gram after rising 2.2 percent the week before. Following a 2.3 percent increase in the week prior, the price of US platinum bar fell 1.9 percent last week to $1,680 per ounce. The price of Japanese platinum bar fell 0.5 percent to JPY 5,106 ($54.47) per gram after rising 1.1 percent the week before.

The price of Japanese palladium bar rose 0.9 percent to JPY 2,240 ($23.90) per gram after falling 1.3 percent during the previous week. Following a 0.5 percent increase in the week prior, the price of Chinese palladium bar fell 0.5 percent last week to CNY 183.00 ($29.37) per gram. The price of US palladium bar rose 0.3 percent this week, closing out the fifth consecutive week of elevating prices at $754.00 per ounce.

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.