The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese gold bullion, which saw a 4.0 percent increase to JPY 4,252 ($42.35) per gram. This week marked the third in a row of rising prices for the metal. Closing out the third week of rising prices, the price of Indian gold bullion increased by 1.9 percent, landing at INR 27,219 ($458.69) per 10 grams. The price of Chinese gold bullion rose 1.5 percent this week, closing out the third week at CNY 263.80 ($42.99) per gram. At $1,297 per ounce, the price of US gold bullion finished the week 0.9 percent higher.
The price of US silver fell 2.0 percent to $19.53 per ounce after rising 5.4 percent the week before. Following a 6.8 percent increase in the week prior, the price of Chinese silver fell 1.1 percent last week to CNY 3,975 ($647.79) per kilogram. The price of Japanese silver rose 0.6 percent over the past week to JPY 636.00 ($6.34) per 10 grams. This was the third week in a row of increasing prices. The price of Indian silver declined 0.3 percent over the past week, settling at INR 40,921 ($689.59) per kilogram.
At JPY 4,654 ($46.36) per gram, the price of Japanese platinum bar finished the week 3.4 percent higher. Closing out the third week of rising prices, the price of US platinum bar increased by 1.4 percent, landing at $1,426 per ounce. The price of Chinese platinum bar rose 1.0 percent over the past week to CNY 300.00 ($48.89) per gram. This was the third week in a row of increasing prices.
The price of US palladium bar rose 3.6 percent this week, closing out the third week at $746.00 per ounce. At JPY 2,409 ($24.00) per gram, the price of Japanese palladium bar finished the week 3.6 percent higher. Closing out the third week of rising prices, the price of Chinese palladium bar increased by 3.1 percent, landing at CNY 167.00 ($27.22) 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.