Global Precious Metals MMI®: US Gold Bullion Rises 4.0% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US gold bullion, which saw a 4.0 percent increase to $1,463 per ounce. This comes on the heels of a 4.8 percent decline the week prior. In the past week, the price of Chinese gold bullion shot up 3.8 percent to CNY 300.20 ($48.70) per gram. Closing out the third week of rising prices, the price of Indian gold bullion increased by 3.2 percent, landing at INR 27,386 ($503.60) per 10 grams. The price of Japanese gold bullion rose 2.8 percent to JPY 4,684 ($47.86) per gram after falling 0.5 percent during the previous week.

The price of Chinese silver rose 4.0 percent to CNY 4,950 ($803.08) per kilogram after falling 7.8 percent during the previous week. The price of US silver rose 3.2 percent to $24.04 per ounce after falling 9.9 percent during the previous week. The price of Indian silver rose 2.7 percent to INR 45,644 ($839.34) per kilogram after falling 1.5 percent during the previous week. The price of Japanese silver rose 0.8 percent this week, closing out the third week at JPY 758.00 ($7.75) per 10 grams.

The price of US platinum bar rose 3.6 percent to $1,476 per ounce after falling 4.0 percent during the previous week. The price of Chinese platinum bar rose 2.3 percent to CNY 311.00 ($50.46) per gram after falling 3.5 percent during the previous week. The price of Japanese platinum bar rose 2.0 percent to JPY 4,684 ($47.86) per gram after falling 0.7 percent during the previous week.

The price of Japanese palladium bar rose 3.9 percent to JPY 2,233 ($22.82) per gram after falling 6.5 percent during the previous week. The price of Chinese palladium bar rose 0.6 percent to CNY 158.00 ($25.63) per gram after falling 0.6 percent during the previous week. The price of US palladium bar rose 0.4 percent to $678.00 per ounce after falling 4.3 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.