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 to JPY 686.00 ($6.97) per 10 grams. 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 to INR 43,600 ($764.03) per kilogram. The price of Chinese silver rose 0.8 percent to CNY 4,540 ($739.61) per kilogram after falling 0.3 percent during the previous week.
Following a 2.8 percent increase, Indian gold bullion finished the week at INR 27,740 ($486.11) per 10 grams. The price of Japanese gold bullion dropped 2.8 percent this week, closing out the third consecutive week of falling prices at JPY 4,380 ($44.52) per gram. The price of Chinese gold bullion rose 0.9 percent to CNY 280.65 ($45.72) per gram after 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 to reach CNY 320.00 ($52.13) per gram. 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 to JPY 4,757 ($48.35) per gram. This was the third week in a row of declining prices.
Japanese palladium bar prices were off slightly at JPY 2,390 ($24.29) per gram, down from JPY 2,432 ($24.19) a week ago. 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.