Global Precious Metals MMI®: US Silver Falls for Fifth Week in a Row

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Metal Prices, Premium

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US silver, which saw a 9.9 percent decline to $23.29 per ounce. Last week marked the fourth in a row of declining prices for the metal. The price of Chinese silver fell 7.8 percent over the past week to CNY 4,760 ($769.38) per kilogram. This was the fourth week in a row of declining prices. The price of Japanese silver rose 1.6 percent to JPY 752.00 ($7.54) per 10 grams after falling 14.5 percent during the previous week. The price of Indian silver fell 1.5 percent over the past week to INR 44,444 ($823.95) per kilogram. This was the third week in a row of declining prices.

The price of US gold bullion fell 4.8 percent over the past week to $1,407 per ounce. This was the third week in a row of declining prices. The price of Japanese gold bullion fell 0.5 percent over the past week to JPY 4,558 ($45.68) per gram. This was the fourth week in a row of declining prices. The price of Indian gold bullion rose 0.4 percent to INR 26,548 ($492.17) per 10 grams after falling 9.8 percent during the previous week. At CNY 289.10 ($46.73) per gram, the week finished with no movement for Chinese gold bullion.

Closing out the third week of declining prices, the price of US platinum bar dropped by 4.0 percent, finishing at $1,425 per ounce. At CNY 304.00 ($49.14) per gram, the price of Chinese platinum bar finished the week down 3.5 percent. The price of Japanese platinum bar fell 0.7 percent over the past week to JPY 4,590 ($46.00) per gram. This was the third week in a row of declining prices.

The price of Japanese palladium bar fell 6.5 percent over the past week to JPY 2,150 ($21.55) per gram. This was the third week in a row of declining prices. The price of US palladium bar dropped 4.3 percent this week, closing out the third consecutive week of falling prices at $675.00 per ounce. The price of Chinese palladium bar fell 0.6 percent over the past week to CNY 157.00 ($25.38) per gram. This was the third week in a row of declining prices.

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.