Global Precious Metals MMI®: Chinese Silver Falls for Third Straight Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Chinese silver, which saw a 9.9 percent decline to CNY 3,975 ($647.44) per kilogram. This week marked the third in a row of declining prices for the metal. The price of US silver fell 8.9 percent to $20.12 per ounce after rising 1.8 percent the week before. For the third week in a row, the price of Japanese silver dropped, falling 7.4 percent to JPY 613.00 ($6.23) per 10 grams. Following a 0.1 percent increase in the week prior, the price of Indian silver fell 6.1 percent last week to INR 40,999 ($691.67) per kilogram.

The price of US gold bullion fell 6.7 percent to $1,299 per ounce after rising 0.5 percent the week before. The price of Chinese gold bullion dropped 5.8 percent this week, closing out the third consecutive week of falling prices at CNY 261.20 ($42.54) per gram. The price of Japanese gold bullion fell 4.2 percent over the past week to JPY 4,065 ($41.32) per gram. This was the third week in a row of declining prices. Following a 0.2 percent increase in the week prior, the price of Indian gold bullion fell 3.4 percent last week to INR 26,854 ($453.04) per 10 grams.

The past week saw US platinum bar close at $1,376 per ounce after a 4.8 percent decline. Chinese platinum bar weakened by 4.6 percent to land at CNY 290.00 ($47.23) per gram. Japanese platinum bar prices fell to JPY 4,320 ($43.91) per gram, down from JPY 4,457 ($47.25) a week ago.

Chinese palladium bar dropped 8.0 percent over the past week to CNY 150.00 ($24.43) per gram. The price of US palladium bar decreased to $674.00 per ounce, a 7.7 percent decline from the previous week. Japanese palladium bar saw a 0.9 percent decline over the past week to JPY 2,158 ($21.93) 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.