The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 5.1 percent decline. This week marked the third in a row of declining prices for the metal. For the third week in a row, the price of US silver dropped, falling 2.6 percent to $21.69 per ounce. Indian silver fell 0.9 percent over the past week. The price of Chinese silver rose 0.8 percent after falling 0.3 percent during the previous week.
Indian gold bullion finished the week with a 2.8 percent increase. The price of Japanese gold bullion dropped 2.8 percent this week. The price of Chinese gold bullion rose 0.9 percent falling 0.8 percent during the previous week. The price of US gold bullion fell 0.3 percent to $1,385 per ounce after rising 0.1 percent the week before.
One of the big movers this week was Chinese platinum bar, which shot up 3.6 percent. US platinum bar prices climbed to $1,501 per ounce, up from $1,454 a week ago. The price of Japanese platinum bar fell 0.3 percent over the past week. This was the third week in a row of declining prices.
Japanese palladium bar prices were off slightly. The price of US palladium bar rose 0.8 percent over the past week to $755.00 per ounce. This was the fifth week in a row of increasing prices. Prices for Chinese palladium bar remained constant, closing the week at CNY 168.00 ($27.37) 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.