The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 4.9 percent decline to JPY 2,225 ($22.25) per gram. This week marked the third in a row of declining prices for the metal. The price of Chinese palladium bar fell 3.7 percent over the past week to CNY 155.00 ($25.31) per gram. This was the third week in a row of declining prices. US palladium bar prices fell to $698.00 per ounce, down from $722.00 a week ago.
Chinese platinum bar prices were off slightly at CNY 309.00 ($50.45) per gram, down from CNY 318.00 ($51.94) a week ago. The price of US platinum bar declined 2.0 percent over the past week, settling at $1,491 per ounce. Following a steady week, prices for Japanese platinum bar closed flat at JPY 4,808 ($48.08) per gram.
After a 0.6 percent decline, US gold bullion closed out the week at $1,389 per ounce. The price of Japanese gold bullion rose 0.2 percent over the past week to JPY 4,454 ($44.54) per gram. This was the fourth week in a row of increasing prices. The price of Chinese gold bullion declined 0.1 percent over the past week, settling at CNY 276.10 ($45.08) per gram. Indian gold bullion remained essentially flat from the previous week at INR 32,800 ($502.72) per 10 grams.
The price of US silver rose 1.3 percent to $23.84 per ounce after falling 2.3 percent during the previous week. The price of Indian silver increased 0.8 percent this week, closing out the fourth consecutive week of rising prices at INR 56,750 ($869.80) per kilogram. The price of Japanese silver fell 0.4 percent to JPY 750.00 ($7.50) per 10 grams after rising 3.0 percent the week before. Chinese silver saw a 0.1 percent decline over the past week to CNY 4,770 ($778.85) 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.