The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 4.2 percent decline to JPY 2,309 ($23.57) per gram. This comes on the heels of a 3.6 percent increase the week before. The price of Chinese palladium bar fell 3.0 percent to CNY 162.00 ($26.42) per gram after rising 3.1 percent the week before. Following a 3.6 percent increase in the week prior, the price of US palladium bar fell 2.8 percent last week to $725.00 per ounce.
The price of Japanese platinum bar fell 2.9 percent to JPY 4,521 ($46.15) per gram after rising 3.4 percent the week before. Following a 1.0 percent increase in the week prior, the price of Chinese platinum bar fell 0.7 percent last week to CNY 298.00 ($48.60) per gram. Following a steady week, prices for US platinum bar closed flat at $1,427 per ounce.
The price of Indian gold bullion increased 3.3 percent this week, closing out the fourth consecutive week of rising prices at INR 28,116 ($476.02) per 10 grams. Finishing the fourth week of rising prices, the price of US gold bullion increased by 2.9 percent, finishing at $1,334 per ounce. The price of Japanese gold bullion fell 1.6 percent to JPY 4,183 ($42.70) per gram after rising 4.0 percent the week before. The price of Chinese gold bullion rose 0.5 percent over the past week to CNY 265.15 ($43.25) per gram. This was the fourth week in a row of increasing prices.
The price of US silver rose 2.4 percent to $19.99 per ounce after falling 2.0 percent during the previous week. Following a 0.6 percent increase in the week prior, the price of Japanese silver fell 1.4 percent last week to JPY 627.00 ($6.40) per 10 grams. The price of Chinese silver declined 0.1 percent over the past week, settling at CNY 3,970 ($647.51) per kilogram. Indian silver remained essentially flat from the previous week at INR 40,911 ($692.64) 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.