Global Precious Metals MMI®: 3.0% Decline for Japanese Silver

Japanese silver saw a 3.0 percent decline this week, finishing at JPY 851.00 ($9.03) per 10 grams and making it the week’s biggest mover on the weekly Global Precious Metals MMI®. Following a 0.2 percent increase in the week prior, the price of Chinese silver fell 2.5 percent last week to CNY 5,755 ($926.18) per kilogram. The price of Indian silver fell 1.7 percent to INR 52,621 ($969.34) per kilogram after rising 1.3 percent the week before. The price of US silver declined 1.6 percent over the past week, settling at $28.30 per ounce.

Following a 1.3 percent increase in the week prior, the price of Japanese gold bullion fell 1.7 percent last week to JPY 4,826 ($51.19) per gram. The price of Chinese gold bullion fell 0.7 percent to CNY 320.14 ($51.52) per gram after rising 0.6 percent the week before. Following a 1.0 percent increase in the week prior, the price of US gold bullion fell 0.7 percent last week to $1,598 per ounce. Following a steady week, prices for Indian gold bullion closed flat at INR 29,526 ($543.90) per 10 grams.

The price of Japanese platinum bar fell 1.3 percent to JPY 4,778 ($50.68) per gram after rising 1.1 percent the week before. US platinum bar saw a 0.9 percent decline over the past week to $1,567 per ounce. Closing at CNY 334.00 ($53.75) per gram, Chinese platinum bar remained unchanged for the week.

The price of US palladium bar rose 1.6 percent to $771.00 per ounce after falling 1.8 percent during the previous week. Japanese palladium bar prices were off slightly at JPY 2,320 ($24.61) per gram, down from JPY 2,345 ($24.72) a week ago. The price of Chinese palladium bar rose 0.6 percent to CNY 174.00 ($28.00) per gram after falling 3.9 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.

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