Global Precious Metals MMI®: Indian Silver Rises 8.4% 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 Indian silver, which saw a 8.4 percent increase to INR 45,060 ($807.23) per kilogram. This comes on the heels of a 6.6 percent decline the week prior. The price of Japanese silver rose 4.2 percent to JPY 739.00 ($7.31) per 10 grams after falling 7.9 percent during the previous week. The price of Chinese silver rose 2.7 percent to CNY 4,520 ($736.27) per kilogram after falling 7.8 percent during the previous week. The price of US silver rose 0.6 percent to $22.39 per ounce after falling 5.9 percent during the previous week.

The price of Indian gold bullion rose 4.5 percent to INR 26,965 ($483.07) per 10 grams after falling 4.4 percent during the previous week. The price of Chinese gold bullion rose 2.8 percent to CNY 280.45 ($45.68) per gram after falling 6.9 percent during the previous week. The price of Japanese gold bullion rose 2.3 percent to JPY 4,548 ($45.00) per gram after falling 5.6 percent during the previous week. The price of US gold bullion rose 1.9 percent to $1,386 per ounce after falling 4.9 percent during the previous week.

Chinese platinum bar saw a 0.7 percent decline over the past week to CNY 304.00 ($49.52) per gram. After a 0.5 percent decline, Japanese platinum bar closed out the week at JPY 4,790 ($47.39) per gram. Following a steady week, prices for US platinum bar closed flat at $1,453 per ounce.

The price of US palladium bar fell 1.4 percent to $726.00 per ounce after rising 2.8 percent the week before. Closing at CNY 166.00 ($27.04) per gram for the week, Chinese palladium bar rose by a slight 0.6 percent. Japanese palladium bar remained essentially flat from the previous week at JPY 2,460 ($24.34) per gram.

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.