Global Precious Metals MMI®: US Silver Down for Third Straight Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US silver, which saw a 4.6 percent decline to $19.83 per ounce. This week marked the third in a row of declining prices for the metal. Following a 1.1 percent increase in the week prior, the price of Indian silver fell 4.5 percent last week to INR 46,638 ($740.35) per kilogram. For the third week in a row, the price of Japanese silver dropped, falling 3.3 percent to JPY 645.00 ($6.37) per 10 grams. The price of Chinese silver fell 2.7 percent over the past week to CNY 4,135 ($678.47) per kilogram. This was the third week in a row of declining prices.

The past week saw US gold bullion close at $1,244 per ounce after a 3.6 percent decline. The price of Chinese gold bullion fell 3.3 percent to CNY 245.43 ($40.27) per gram after rising 0.3 percent the week before. Following a 0.2 percent increase in the week prior, the price of Japanese gold bullion fell 2.4 percent last week to JPY 4,044 ($39.91) per gram. For the third week in a row, the price of Indian gold bullion dropped, falling 2.3 percent to INR 29,141 ($462.59) per 10 grams.

The price of Chinese platinum bar fell 3.9 percent to CNY 292.00 ($47.91) per gram after rising 0.7 percent the week before. Closing out the third week of declining prices, the price of US platinum bar dropped by 3.9 percent, finishing at $1,381 per ounce. Following a 1.5 percent increase in the week prior, the price of Japanese platinum bar fell 3.2 percent last week to JPY 4,548 ($44.88) per gram.

The price of Chinese palladium bar decreased to CNY 158.00 ($25.92) per gram, a 3.7 percent decline from the previous week. The price of US palladium bar declined 2.3 percent over the past week, settling at $714.00 per ounce. Japanese palladium bar prices were off slightly at JPY 2,345 ($23.14) per gram, down from JPY 2,384 ($23.75) a week ago.

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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