The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 14.5 percent decline to JPY 740.00 ($7.52) per 10 grams. This comes on the heels of a 1.6 percent increase the week before. The price of Indian silver fell 12.0 percent over the past week to INR 45,117 ($827.52) per kilogram. This was the fourth week in a row of declining prices. At CNY 5,160 ($832.60) per kilogram, the price of Chinese silver finished the week down 6.9 percent. The price of US silver fell 5.5 percent over the past week to $25.85 per ounce. This was the fourth week in a row of declining prices.
The price of Indian gold bullion fell 9.8 percent over the past week to INR 26,450 ($485.14) per 10 grams. This was the third week in a row of declining prices. For the third week in a row, the price of Chinese gold bullion dropped, falling 8.6 percent to CNY 288.90 ($46.62) per gram. The price of Japanese gold bullion fell 8.4 percent to JPY 4,579 ($46.54) per gram after rising 3.6 percent the week before. US gold bullion saw a 6.7 percent drop-off this week to end at $1,477 per ounce.
Following a 2.3 percent increase in the week prior, the price of Japanese platinum bar fell 5.5 percent last week to JPY 4,623 ($46.99) per gram. US platinum bar prices fell to $1,484 per ounce, down from $1,537 a week ago. The past week saw Chinese platinum bar close at CNY 315.00 ($50.83) per gram after a 3.4 percent decline.
The price of Chinese palladium bar fell 4.8 percent over the past week to CNY 158.00 ($25.49) per gram. This was the fourth week in a row of declining prices. US palladium bar weakened by 3.0 percent to land at $705.00 per ounce. The price of Japanese palladium bar fell 1.6 percent to JPY 2,300 ($23.38) per gram after rising 0.7 percent the week before.
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.