The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 6.5 percent increase to JPY 2,365 ($23.82) per gram. This comes on the heels of a 0.2 percent decline the week prior. Closing at $718.00 per ounce for the week, US palladium bar rose by a slight 2.4 percent. Chinese palladium bar rose 1.3 percent over the past week to CNY 159.00 ($25.99) per gram.
For the third week in a row, the price of Chinese platinum bar dropped, falling 2.0 percent to CNY 301.00 ($49.20) per gram. The price of US platinum bar fell 1.4 percent over the past week to $1,429 per ounce. This was the third week in a row of declining prices. The price of Japanese platinum bar rose 0.7 percent to JPY 4,682 ($47.15) per gram after falling 3.3 percent during the previous week.
The price of Japanese gold bullion rose 3.1 percent to JPY 4,358 ($43.89) per gram after falling 5.1 percent during the previous week. The price of Chinese gold bullion dropped 1.2 percent this week, closing out the third consecutive week of falling prices at CNY 261.95 ($42.82) per gram. At $1,326 per ounce, the price of US gold bullion finished the week down 0.2 percent. The price of Indian gold bullion rose 0.2 percent to INR 29,489 ($471.94) per 10 grams after falling 10.2 percent during the previous week.
Closing out the third week of declining prices, the price of Chinese silver dropped by 4.0 percent, finishing at CNY 4,285 ($700.47) per kilogram. The price of Japanese silver rose 3.4 percent to JPY 730.00 ($7.35) per 10 grams after falling 5.9 percent during the previous week. For the third week in a row, the price of US silver dropped, falling 2.1 percent to $21.80 per ounce. The price of Indian silver fell 0.5 percent over the past week to INR 48,232 ($771.90) per kilogram. This was the third week in a row of declining prices.
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.