Global Precious Metals MMI®: Indian Silver Falls 14.6% 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 Indian silver, which saw a 14.6 percent decline to INR 48,475 ($765.44) per kilogram. This comes on the heels of a 0.8 percent increase the week before. Following a 1.3 percent increase in the week prior, the price of US silver fell 6.6 percent last week to $22.27 per ounce. Chinese silver saw a 6.4 percent drop-off this week to end at CNY 4,465 ($729.63) per kilogram. Japanese silver weakened by 5.9 percent to land at JPY 706.00 ($7.13) per 10 grams.

Indian gold bullion prices fell to INR 29,442 ($464.90) per 10 grams, down from INR 32,800 ($502.72) a week ago. The price of Japanese gold bullion fell 5.1 percent to JPY 4,228 ($42.69) per gram after rising 0.2 percent the week before. The past week saw US gold bullion close at $1,328 per ounce after a 4.4 percent decline. Chinese gold bullion dropped 4.0 percent over the past week to CNY 265.05 ($43.31) per gram.

The price of Japanese platinum bar decreased to JPY 4,650 ($46.96) per gram, a 3.3 percent decline from the previous week. US platinum bar prices were off slightly at $1,449 per ounce, down from $1,491 a week ago. The price of Chinese platinum bar declined 0.6 percent over the past week, settling at CNY 307.00 ($50.17) per gram.

The price of Chinese palladium bar rose 1.3 percent to CNY 157.00 ($25.66) per gram after falling 3.7 percent during the previous week. The price of US palladium bar rose 0.4 percent to $701.00 per ounce after falling 3.3 percent during the previous week. Japanese palladium bar fell 0.2 percent over the past week to JPY 2,220 ($22.42) 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.

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