Agnico May Sell Arctic Minority Stake; Japanese Silver Sees 3.6% Increase

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Agnico Eagle Mines Ltd may sell off its “minority stake in its Meliadine gold project in the Canadian sub Arctic, according to two sources familiar with the situation,” reports Reuters.

“The Toronto-based miner, which owns operations in Canada, Finland and Mexico, has held some preliminary discussions with interested parties, said the sources, who asked not to be named as they are not authorized to discuss the matter with the media.”

With a 3.6 percent increase over the past week, Japanese silver was the biggest mover on the weekly Global Precious Metals MMI®. The price of US silver rose 2.9 percent over the past week. This was the third week in a row of increasing prices. The price of Chinese silver rose 2.4 percent over the past week. This was the fifth week in a row of increasing prices. The price of Indian silver finished the week 2.2 percent higher.

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US gold bullion saw its price rise 2.7 percent over the past week. The price of Indian gold bullion increased by a slight 2.4 percent over the past week. Chinese gold bullion rose 1.8 percent over the past week. The price of Japanese gold bullion rose 0.8 percent this week.

US platinum bar rose by a slight 1.1 percent. The price of Japanese platinum bar fell 0.6 percent after rising 3.5 percent the week before. In the past week, Chinese platinum bar saw its price shift up 0.3 percent.

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Following a 2.7 percent increase, Japanese palladium bar finished the week. Following a 5.1 percent increase in the week prior, the price of Chinese palladium bar fell 0.6 percent last week. US palladium bar prices ticked up 0.4 percent over the past 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.