The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US palladium bar, which saw a 3.4 percent decline to $731.00 per ounce. This comes on the heels of a 2.6 percent increase the week before. Following a 2.4 percent increase in the week prior, the price of Japanese palladium bar fell 1.0 percent last week to JPY 2,384 ($23.75) per gram. The price of Chinese palladium bar fell 0.6 percent to CNY 164.00 ($26.92) per gram after rising 1.2 percent the week before.
Closing out the fifth week of rising prices, the price of Japanese platinum bar gained 1.5 percent, finishing at JPY 4,699 ($46.82) per gram. The price of Chinese platinum bar rose 0.7 percent to CNY 304.00 ($49.89) per gram after falling 0.7 percent during the previous week. The price of US platinum bar declined 0.4 percent over the past week, settling at $1,437 per ounce.
Following a 3.4 percent increase in the week prior, the price of Indian gold bullion fell 3.0 percent last week to INR 29,816 ($475.38) per 10 grams. The price of Chinese gold bullion rose 0.3 percent to CNY 253.78 ($41.65) per gram after falling 2.1 percent during the previous week. The price of Japanese gold bullion rose 0.2 percent to JPY 4,143 ($41.28) per gram after falling 1.1 percent during the previous week. Closing at $1,290 per ounce, US gold bullion remained unchanged for the week.
US silver weakened by 3.4 percent to land at $20.78 per ounce. Japanese silver saw a 2.3 percent decline over the past week to JPY 667.00 ($6.65) per 10 grams. The price of Chinese silver dropped 1.5 percent this week, closing out the third consecutive week of falling prices at CNY 4,250 ($697.54) per kilogram. The price of Indian silver rose 1.1 percent to INR 48,841 ($778.71) per kilogram after falling 3.5 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.