The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 6.0 percent decline to JPY 2,029 ($20.40) per gram. 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 palladium bar dropped, falling 2.2 percent to $659.00 per ounce. Chinese palladium bar fell 2.0 percent over the past week to CNY 147.00 ($23.93) per gram.
At JPY 4,173 ($41.95) per gram, the price of Japanese platinum bar finished the week down 3.4 percent. Closing out the third week of declining prices, the price of Chinese platinum bar dropped by 2.8 percent, finishing at CNY 282.00 ($45.91) per gram. The price of US platinum bar dropped 2.7 percent this week, closing out the third consecutive week of falling prices at $1,339 per ounce.
The price of Japanese gold bullion fell 5.8 percent over the past week to JPY 3,831 ($38.51) per gram. This was the third week in a row of declining prices. Closing out the third week of declining prices, the price of US gold bullion dropped by 4.9 percent, finishing at $1,235 per ounce. Chinese gold bullion weakened by 4.7 percent to land at CNY 249.00 ($40.54) per gram. Indian gold bullion saw a 3.2 percent drop-off this week to end at INR 26,000 ($437.31) per 10 grams.
The price of Japanese silver fell 3.8 percent over the past week to JPY 590.00 ($5.93) per 10 grams. This was the third week in a row of declining prices. For the third week in a row, the price of US silver dropped, falling 2.3 percent to $19.66 per ounce. At CNY 3,935 ($640.69) per kilogram, the price of Chinese silver finished the week down 1.0 percent. The price of Indian silver dropped 0.7 percent this week, closing out the third consecutive week of falling prices at INR 40,700 ($684.55) per kilogram.
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.