Global Precious Metals MMI®: Indian Gold Bullion Falls 5.8% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Indian gold bullion, which saw a 5.8 percent decline to INR 28,441 ($465.03) per 10 grams. This comes on the heels of a 3.6 percent increase the week before. The price of Japanese gold bullion fell 1.4 percent to JPY 4,030 ($39.08) per gram after rising 1.1 percent the week before. After a 1.1 percent decline, Chinese gold bullion closed out the week at CNY 242.85 ($39.92) per gram. At $1,231 per ounce, the price of US gold bullion finished the week down 0.6 percent.

Indian silver prices fell to INR 44,775 ($732.10) per kilogram, down from INR 46,650 ($746.96) a week ago. Following a 0.3 percent increase in the week prior, the price of Japanese silver fell 2.2 percent last week to JPY 633.00 ($6.14) per 10 grams. The price of Chinese silver dropped 1.1 percent this week, closing out the third consecutive week of falling prices at CNY 4,065 ($668.28) per kilogram. The price of US silver fell 0.6 percent over the past week to $19.54 per ounce. This was the third week in a row of declining prices.

Closing out the third week of declining prices, the price of Chinese platinum bar dropped by 1.0 percent, finishing at CNY 285.00 ($46.85) per gram. At JPY 4,470 ($43.35) per gram, the price of Japanese platinum bar finished the week down 0.9 percent. The price of US platinum bar rose 0.3 percent to $1,355 per ounce after falling 2.2 percent during the previous week.

US palladium bar closed last week at $738.00 per ounce, after a 3.1 percent rise in price. Following a 2.5 percent increase, Chinese palladium bar finished the week at CNY 163.00 ($26.80) per gram. Closing at JPY 2,400 ($23.27) per gram for the week, Japanese palladium bar rose by a slight 0.9 percent.

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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