Global Precious Metals MMI®: Chinese Silver Rises 6.8% for the 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 6.8 percent increase to CNY 4,020 ($654.65) per kilogram. This comes on the heels of a 4.3 percent decline the week prior. The price of US silver rose 5.4 percent to $19.92 per ounce after falling 3.9 percent during the previous week. Japanese silver rose 3.1 percent over the past week to JPY 632.00 ($6.37) per 10 grams. Following a 2.3 percent increase in the week prior, the price of Indian silver fell 1.5 percent last week to INR 41,026 ($685.04) per kilogram.

The price of US gold bullion rose 5.0 percent to $1,285 per ounce after falling 0.9 percent during the previous week. A 4.3 percent jump caught the week’s heaviest change for Chinese gold bullion. Japanese gold bullion gained a slight 3.0 percent this past week, finishing at JPY 4,088 ($41.20) per gram. Indian gold bullion rose 0.6 percent over the past week to INR 26,717 ($446.11) per 10 grams.

The price of US platinum bar rose 6.3 percent to $1,406 per ounce after falling 1.2 percent during the previous week. The price of Chinese platinum bar rose 5.7 percent to CNY 297.00 ($48.37) per gram after falling 0.4 percent during the previous week. Over the past week, Japanese platinum bar rose 3.3 percent to JPY 4,503 ($45.38) per gram.

One of the big movers this week was Japanese palladium bar, which shot up 6.6 percent to reach JPY 2,326 ($23.44) per gram. With a 6.2 percent climb, Chinese palladium bar claimed the week’s largest gain, settling at CNY 162.00 ($26.38) per gram. US palladium bar closed last week at $720.00 per ounce, after a 5.7 percent rise in price.

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.