The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 8.9 percent decline to JPY 2,178 ($23.09) per gram. This week marked the third in a row of declining prices for the metal. The price of US palladium bar fell 3.3 percent to $730.00 per ounce after rising 0.8 percent the week before. The price of Chinese palladium bar declined 3.0 percent over the past week, settling at CNY 163.00 ($26.59) per gram.
The price of Japanese platinum bar fell 6.3 percent over the past week to JPY 4,457 ($47.25) per gram. This was the third week in a row of declining prices. Following a 3.6 percent increase in the week prior, the price of Chinese platinum bar fell 5.0 percent last week to CNY 304.00 ($49.59) per gram. The price of US platinum bar fell 3.7 percent to $1,445 per ounce after rising 3.2 percent the week before.
Japanese gold bullion weakened by 3.1 percent to land at JPY 4,245 ($45.00) per gram. Following a 0.9 percent increase in the week prior, the price of Chinese gold bullion fell 1.2 percent last week to CNY 277.38 ($45.25) per gram. The price of US gold bullion rose 0.5 percent to $1,392 per ounce after falling 0.3 percent during the previous week. The price of Indian gold bullion rose 0.2 percent over the past week to INR 27,798 ($483.30) per 10 grams. This was the fourth week in a row of increasing prices.
Japanese silver finished the week at JPY 662.00 ($7.02) per 10 grams after falling 3.5 percent. The price of Chinese silver fell 2.9 percent to CNY 4,410 ($719.35) per kilogram after rising 0.8 percent the week before. The price of US silver rose 1.8 percent to $22.08 per ounce after falling 2.6 percent during the previous week. The price of Indian silver rose 0.1 percent to INR 43,648 ($758.87) per kilogram after falling 0.9 percent during the previous week.
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.