The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 3.7 percent decline to JPY 2,210 ($23.62) per gram. This comes on the heels of a 2.5 percent increase the week before. US palladium bar saw a 2.3 percent decline over the past week to $720.00 per ounce. After a 2.2 percent decline, Chinese palladium bar closed out the week at CNY 175.00 ($28.13) per gram.
The price of Japanese platinum bar dropped 3.1 percent this week, closing out the third consecutive week of falling prices at JPY 4,739 ($50.65) per gram. Closing out the third week of declining prices, the price of US platinum bar dropped by 2.2 percent, finishing at $1,571 per ounce. Chinese platinum bar fell 0.9 percent over the past week to CNY 341.00 ($54.81) per gram.
At JPY 4,740 ($50.66) per gram, the price of Japanese gold bullion finished the week down 1.4 percent. Chinese gold bullion saw a 0.6 percent decline over the past week to CNY 320.30 ($51.49) per gram. The price of Indian gold bullion rose 0.4 percent to INR 29,480 ($536.89) per 10 grams after falling 1.6 percent during the previous week. The price of US gold bullion dropped 0.3 percent this week, closing out the third consecutive week of falling prices at $1,577 per ounce.
Following a 2.0 percent increase in the week prior, the price of Japanese silver fell 2.4 percent last week to JPY 850.00 ($9.08) per 10 grams. The price of US silver fell 0.6 percent over the past week to $28.58 per ounce. This was the fourth week in a row of declining prices. The price of Indian silver fell 0.5 percent over the past week to INR 53,937 ($982.29) per kilogram. This was the fourth week in a row of declining prices. Chinese silver remained essentially flat from the previous week at CNY 5,905 ($949.21) per kilogram.
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.