Global Precious Metals MMI®: Indian Gold Bullion Rises 3.6% for the Week

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The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Indian gold bullion, which saw a 3.6 percent increase to INR 30,179 ($483.22) per 10 grams. This comes on the heels of a 2.3 percent decline the week prior. The price of Japanese gold bullion rose 1.1 percent to JPY 4,087 ($39.88) per gram after falling 2.4 percent during the previous week. Closing out the third week of declining prices, the price of US gold bullion dropped by 0.5 percent, finishing at $1,238 per ounce. Chinese gold bullion prices held steady from the previous week at CNY 245.59 ($40.30) per gram.

For the third week in a row, the price of US silver dropped, falling 0.8 percent to $19.66 per ounce. At CNY 4,110 ($674.40) per kilogram, the price of Chinese silver finished the week down 0.6 percent. The price of Japanese silver rose 0.3 percent to JPY 647.00 ($6.31) per 10 grams after falling 3.3 percent during the previous week. At INR 46,650 ($746.96) per kilogram, the week finished with no movement for Indian silver.

The price of US platinum bar dropped 2.2 percent this week, closing out the third consecutive week of falling prices at $1,351 per ounce. The price of Chinese platinum bar fell 1.4 percent over the past week to CNY 288.00 ($47.26) per gram. This was the third week in a row of declining prices. Closing out the third week of declining prices, the price of Japanese platinum bar dropped by 0.8 percent, finishing at JPY 4,512 ($44.02) per gram.

The price of Japanese palladium bar rose 1.4 percent to JPY 2,378 ($23.20) per gram after falling 1.6 percent during the previous week. The price of Chinese palladium bar rose 0.6 percent to CNY 159.00 ($26.09) per gram after falling 3.7 percent during the previous week. The price of US palladium bar rose 0.3 percent to $716.00 per ounce after falling 2.3 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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