Global Precious Metals MMI®: Indian Silver Up 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 Indian silver, which saw a 5.5 percent increase to INR 43,750 ($718.79) per kilogram. This week marked the third in a row of rising prices for the metal. At CNY 4,190 ($684.08) per kilogram, the price of Chinese silver finished the week 4.9 percent higher. The price of US silver rose 3.4 percent to $20.56 per ounce after falling 0.5 percent during the previous week. Japanese silver prices were off slightly at JPY 622.00 ($6.47) per 10 grams, down from JPY 626.00 ($6.33) a week ago.

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The price of Indian gold bullion rose 2.1 percent over the past week to INR 28,919 ($475.12) per 10 grams. This was the third week in a row of increasing prices. Japanese gold bullion fell 1.4 percent over the past week to JPY 4,071 ($42.37) per gram. The price of Chinese gold bullion rose 0.6 percent to CNY 265.65 ($43.37) per gram after falling 0.4 percent during the previous week. US gold bullion traded sideways last week, hovering around $1,315 per ounce.

The price of US platinum bar rose 3.7 percent this week, closing out the fifth consecutive week of elevating prices at $1,499 per ounce. Closing out the fifth week of rising prices, the price of Chinese platinum bar gained 3.6 percent, finishing at CNY 313.00 ($51.10) per gram. The price of Japanese platinum bar rose 1.3 percent over the past week to JPY 4,634 ($48.23) per gram. This was the fifth week in a row of increasing prices.

Chinese palladium bar saw its price rise 1.9 percent over the past week to CNY 165.00 ($26.94) per gram. Closing out the fifth week of rising prices, the price of US palladium bar gained 1.4 percent, finishing at $740.00 per ounce. Closing at JPY 2,309 ($24.03) per gram, Japanese palladium bar remained unchanged for the week.

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.