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 to $22.59 per ounce. This was the third week in a row of increasing prices. The price of Chinese silver rose 2.4 percent over the past week to CNY 4,510 ($741.25) per kilogram. This was the fifth week in a row of increasing prices. At INR 51,204 ($833.33) per kilogram, the price of Indian silver finished the week 2.2 percent higher.
US gold bullion saw its price rise 2.7 percent over the past week to $1,353 per ounce. The price of Indian gold bullion increased by a slight 2.4 percent over the past week to INR 30,375 ($494.34) per 10 grams. Chinese gold bullion rose 1.8 percent over the past week to CNY 264.38 ($43.45) per gram. The price of Japanese gold bullion rose 0.8 percent this week, closing out the third week at JPY 4,190 ($42.94) per gram.
Closing at $1,451 per ounce for the week, US platinum bar rose by a slight 1.1 percent. The price of Japanese platinum bar fell 0.6 percent to JPY 4,535 ($46.47) per gram after rising 3.5 percent the week before. In the past week, Chinese platinum bar saw its price shift up 0.3 percent to CNY 303.00 ($49.80) per gram.
Following a 2.7 percent increase, Japanese palladium bar finished the week at JPY 2,355 ($24.13) per gram. Following a 5.1 percent increase in the week prior, the price of Chinese palladium bar fell 0.6 percent last week to CNY 164.00 ($26.95) per gram. US palladium bar prices ticked up 0.4 percent over the past week to $742.00 per ounce.
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.