After drifting 4.2 percent, Japanese palladium bar dropped to JPY 2,208 ($22.70) per gram making it the biggest mover on the weekly Global Precious Metals MMI® this week. The price of US palladium bar fell 4.0 percent to $699.00 per ounce after rising 1.4 percent the week before. At CNY 160.00 ($26.16) per gram, the week finished with no movement for Chinese palladium bar.
Closing out the third week of declining prices, the price of Japanese platinum bar dropped by 2.9 percent, finishing at JPY 4,368 ($44.90) per gram. At $1,386 per ounce, the price of US platinum bar finished the week down 2.0 percent. At CNY 298.00 ($48.73) per gram, the price of Chinese platinum bar did not change since the previous week.
The price of Japanese gold bullion fell 2.6 percent over the past week to JPY 4,109 ($42.24) per gram. This was the third week in a row of declining prices. Following a 0.8 percent increase in the week prior, the price of US gold bullion fell 1.9 percent last week to $1,311 per ounce. The price of Indian gold bullion fell 1.4 percent to INR 29,754 ($484.71) per 10 grams after rising 2.4 percent the week before. Chinese gold bullion traded sideways last week, hovering around CNY 265.00 ($43.33) per gram.
Following a 1.2 percent increase in the week prior, the price of Indian silver fell 1.5 percent last week to INR 48,050 ($782.76) per kilogram. For the third week in a row, the price of Japanese silver dropped, falling 1.3 percent to JPY 672.00 ($6.91) per 10 grams. After a 0.2 percent decline, US silver closed out the week at $21.74 per ounce. Closing at CNY 4,365 ($713.78) per kilogram, Chinese silver 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.