SilverCrest Sees 3Q Silver Production Record; Chinese Gold Bullion Down 4.2%

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SilverCrest Mines Inc. had some exciting numbers to report for Q3. They “produced a company record 202,736 ounces of silver in the third quarter, an increase of 4% year-on-year,” reported Kitco News.

“Santa Elena continued its solid operating performance during the third quarter, closely matching our projections,” says N. Eric Fier, president and chief operating officer of SilverCrest.

After drifting 4.2 percent, Chinese gold bullion dropped making it the biggest mover on the weekly Global Precious Metals MMI® this week. The price of US gold bullion dropped 2.9 percent this week, closing out the third consecutive week of falling prices. Closing out the third week of declining prices, the price of Indian gold bullion dropped by 2.8 percent. The price of Japanese gold bullion fell 0.5 percent over the past week. This was the fourth week in a row of declining prices.

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The price of Indian silver rose 2.2 percent after falling 1.5 percent during the previous week. Chinese silver fell 1.9 percent over the past week. The price of US silver fell 1.8 percent over the past week. This was the fourth week in a row of declining prices. The price of Japanese silver rose 0.3 percent after falling 1.3 percent during the previous week.

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The price of Chinese platinum bar saw a 3.0 percent decline from the previous week. The price of US platinum bar fell 1.4 percent over the past week. This was the fourth week in a row of declining prices. The price of Japanese platinum bar rose 0.9 percent after falling 2.9 percent during the previous week.

Chinese palladium bar saw a 1.9 percent decline over the past week. The price of US palladium bar rose 1.9 percent after falling 4.0 percent during the previous week. The price of Japanese palladium bar rose 0.5 percent after falling 4.2 percent during the previous 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.