The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US palladium bar, which saw a 5.7 percent decline to $727.00 per ounce. This comes on the heels of a 1.6 percent increase the week before. Following a 0.6 percent increase in the week prior, the price of Chinese palladium bar fell 4.6 percent last week to CNY 166.00 ($26.80) per gram. The price of Japanese palladium bar rose 0.7 percent to JPY 2,337 ($23.66) per gram after falling 1.1 percent during the previous week.
Chinese platinum bar saw a 2.4 percent decline over the past week to CNY 326.00 ($52.64) per gram. The price of Japanese platinum bar rose 2.3 percent to JPY 4,890 ($49.51) per gram after falling 1.3 percent during the previous week. The price of US platinum bar dropped 1.9 percent this week, closing out the third consecutive week of falling prices at $1,537 per ounce.
The price of Japanese gold bullion rose 3.6 percent to JPY 5,000 ($50.62) per gram after falling 1.7 percent during the previous week. After a 1.3 percent decline, Chinese gold bullion closed out the week at CNY 316.03 ($51.03) per gram. The price of US gold bullion declined 1.0 percent over the past week, settling at $1,582 per ounce. Indian gold bullion fell 0.7 percent over the past week to INR 29,310 ($534.72) per 10 grams.
Chinese silver finished the week at CNY 5,540 ($894.54) per kilogram after falling 3.7 percent. For the third week in a row, the price of US silver dropped, falling 3.4 percent to $27.35 per ounce. Closing out the third week of declining prices, the price of Indian silver dropped by 2.6 percent, finishing at INR 51,270 ($935.34) per kilogram. The price of Japanese silver rose 1.6 percent to JPY 865.00 ($8.76) per 10 grams after falling 3.0 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.