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 to JPY 709.00 ($6.90) per 10 grams. This comes on the heels of a 4.1 percent increase the week before. Chinese silver dropped 7.8 percent over the past week to CNY 4,400 ($716.42) per kilogram. The past week saw Indian silver close at INR 41,559 ($757.06) per kilogram after a 6.6 percent decline. US silver weakened by 5.9 percent to land at $22.26 per ounce.
The price of Chinese gold bullion decreased to CNY 272.92 ($44.44) per gram, a 6.9 percent decline from the previous week. The price of Japanese gold bullion fell 5.6 percent to JPY 4,444 ($43.27) per gram after rising 3.5 percent the week before. US gold bullion prices fell to $1,360 per ounce, down from $1,431 a week ago. The price of Indian gold bullion fell 4.4 percent over the past week to INR 25,811 ($470.18) per 10 grams. 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, settling at CNY 306.00 ($49.82) per gram. Following a 6.0 percent increase in the week prior, the price of Japanese platinum bar fell 1.9 percent last week to JPY 4,812 ($46.85) per gram. US platinum bar saw a 1.6 percent decline over the past week to $1,454 per ounce.
Chinese palladium bar rose 3.8 percent over the past week to CNY 165.00 ($26.87) per gram. Finishing at JPY 2,460 ($23.95) per gram for the 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 at $736.00 per ounce.
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.