The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 6.7 percent decline to JPY 681.00 ($6.96) per 10 grams. This comes on the heels of a 3.4 percent increase the week before. The price of Chinese silver rose 1.9 percent to CNY 4,365 ($711.84) per kilogram after falling 4.0 percent during the previous week. The price of Indian silver rose 1.2 percent to INR 48,800 ($775.65) per kilogram after falling 0.5 percent during the previous week. Prices for US silver remained constant, closing the week at $21.78 per ounce.
Following a 3.1 percent increase in the week prior, the price of Japanese gold bullion fell 3.2 percent last week to JPY 4,219 ($43.12) per gram. Indian gold bullion gained a slight 2.4 percent this past week, finishing at INR 30,186 ($479.79) per 10 grams. The price of Chinese gold bullion rose 1.2 percent to CNY 265.00 ($43.22) per gram after falling 1.2 percent during the previous week. The price of US gold bullion rose 0.8 percent to $1,336 per ounce after falling 0.2 percent during the previous week.
The price of Japanese platinum bar fell 3.9 percent to JPY 4,500 ($46.00) per gram after rising 0.7 percent the week before. At CNY 298.00 ($48.60) per gram, the price of Chinese platinum bar finished the week down 1.0 percent. The price of US platinum bar fell 1.0 percent over the past week to $1,415 per ounce. This was the third week in a row of declining prices.
Following a 6.5 percent increase in the week prior, the price of Japanese palladium bar fell 2.5 percent last week to JPY 2,306 ($23.57) per gram. US palladium bar saw its price rise 1.4 percent over the past week to $728.00 per ounce. Chinese palladium bar prices ticked up 0.6 percent over the past week to CNY 160.00 ($26.09) 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.