The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 7.9 percent decline. This comes on the heels of a 4.1 percent increase the week before.
Chinese silver dropped 7.8 percent over the past week. The past week saw Indian silver close after a 6.6 percent decline. US silver weakened by 5.9 percent.
The price of Chinese gold bullion decreased, a 6.9 percent decline from the previous week. The price of Japanese gold bullion fell 5.6 percent after rising 3.5 percent the week before. US gold bullion prices fell more than $70 per ounce from a week ago. The price of Indian gold bullion fell 4.4 percent over the past week. This was the third week in a row of declining prices.
The price of Chinese platinum bar declined 1.9 percent over the past week. Following a 6.0 percent increase in the week prior, the price of Japanese platinum bar fell 1.9 percent last week. US platinum bar saw a 1.6 percent decline over the past week.
Chinese palladium bar rose 3.8 percent over the past week. Japanese palladium bar climbed 3.6 percent increase. The price of US palladium bar increased 2.8 percent this week, closing out the fourth consecutive week of rising 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.