After drifting 4.7 percent, Chinese platinum bar dropped to CNY 344.00 ($55.28) per gram making it the biggest mover on the weekly Global Precious Metals MMI® this week. The price of US platinum bar decreased to $1,607 per ounce, a 4.3 percent decline from the previous week. Japanese platinum bar dropped 4.2 percent over the past week to JPY 4,889 ($51.87) per gram.
The price of Japanese palladium bar increased 2.5 percent this week, closing out the fourth consecutive week of rising prices at JPY 2,296 ($24.36) per gram. Following a 0.3 percent increase in the week prior, the price of US palladium bar fell 2.3 percent last week to $737.00 per ounce. Chinese palladium bar fell 2.2 percent over the past week to CNY 179.00 ($28.77) per gram.
After a 1.8 percent decline, US gold bullion closed out the week at $1,582 per ounce. Indian gold bullion saw a 1.6 percent decline over the past week to INR 29,350 ($540.71) per 10 grams. Japanese gold bullion prices were off slightly at JPY 4,807 ($51.00) per gram, down from JPY 4,879 ($52.05) a week ago. The price of Chinese gold bullion declined 1.3 percent over the past week, settling at CNY 322.34 ($51.80) per gram.
At $28.76 per ounce, the price of US silver finished the week down 3.5 percent. Closing out the third week of declining prices, the price of Chinese silver dropped by 3.2 percent, finishing at CNY 5,905 ($948.98) per kilogram. For the third week in a row, the price of Indian silver dropped, falling 2.9 percent to INR 54,203 ($998.57) per kilogram. The price of Japanese silver rose 2.0 percent to JPY 871.00 ($9.24) per 10 grams after falling 5.8 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.