Global Precious Metals MMI®: Japanese Silver Price Falls 14.5% on Week
The biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 14.5 percent decline. 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. This was the fourth week in a row of declining prices. 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. 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. 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. The price of Japanese gold bullion fell 8.4 percent after rising 3.6 percent the week before. US gold bullion saw a 6.7 percent drop-off this week.
Following a 2.3 percent increase in the week prior, the price of Japanese platinum bar fell 5.5 percent last week. US platinum bar prices fell as well. The past week saw Chinese platinum bar close after a 3.4 percent decline.
The price of Chinese palladium bar fell 4.8 percent over the past week. This was the fourth week in a row of declining prices. US palladium bar weakened by 3.0 percent. The price of Japanese palladium bar fell 1.6 percent 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.
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