Global Precious Metals MMI®: 3.5% Decrease for Indian Silver

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Metal Prices, Premium

Indian silver’s 3.5 percent decline made it this week’s biggest mover on the weekly Global Precious Metals MMI®, closing at INR 48,319 ($762.73) per kilogram. The price of US silver fell 1.6 percent over the past week to $21.51 per ounce. This was the fourth week in a row of declining prices. After a 1.4 percent decline, Chinese silver closed out the week at CNY 4,315 ($708.51) per kilogram. Japanese silver fell 0.7 percent over the past week to JPY 683.00 ($6.88) per 10 grams.

The price of Indian gold bullion rose 3.4 percent to INR 30,740 ($485.24) per 10 grams after falling 2.1 percent during the previous week. Chinese gold bullion saw a 2.1 percent decline over the past week to CNY 253.05 ($41.55) per gram. The price of US gold bullion fell 2.0 percent over the past week to $1,290 per ounce. This was the third week in a row of declining prices. The price of Japanese gold bullion declined 1.1 percent over the past week, settling at JPY 4,134 ($41.67) per gram.

Following a 0.3 percent increase in the week prior, the price of Chinese platinum bar fell 0.7 percent last week to CNY 302.00 ($49.59) per gram. US platinum bar saw a 0.6 percent decline over the past week to $1,443 per ounce. At JPY 4,628 ($46.65) per gram, the price of Japanese platinum bar finished the week 0.5 percent higher.

The price of US palladium bar rose 2.6 percent to $757.00 per ounce after falling 0.5 percent during the previous week. The price of Japanese palladium bar rose 2.4 percent to JPY 2,408 ($24.27) per gram after falling 0.2 percent during the previous week. The price of Chinese palladium bar rose 1.2 percent to CNY 165.00 ($27.09) per gram after falling 0.6 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.

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