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. 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. For the third week in a row, the price of Japanese silver dropped, falling 3.3 percent. The price of Chinese silver fell 2.7 percent over the past week. This was the third week in a row of declining prices.
The past week saw US gold bullion close after a 3.6 percent decline. The price of Chinese gold bullion fell 3.3 percent 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. For the third week in a row, the price of Indian gold bullion dropped, falling 2.3 percent.
The price of Chinese platinum bar fell 3.9 percent 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. Following a 1.5 percent increase in the week prior, the price of Japanese platinum bar fell 3.2 percent last week.
The price of Chinese palladium bar decreased, a 3.7 percent decline from the previous week. The price of US palladium bar declined 2.3 percent over the past week. Japanese palladium bar prices were off slightly, down from 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.