Global Precious Metals MMI®: US Gold Bullion Falls 4.1% 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 US gold bullion, which saw a 4.1 percent decline to $1,188 per ounce. This comes on the heels of a 0.7 percent increase the week before. Following a 1.3 percent increase in the week prior, the price of Indian gold bullion fell 4.0 percent last week to INR 27,647 ($445.70) per 10 grams. Chinese gold bullion fell 2.1 percent over the past week to CNY 237.60 ($39.13) per gram. The price of Japanese gold bullion fell 2.0 percent to JPY 4,012 ($38.56) per gram after rising 1.5 percent the week before.

The price of Japanese silver increased by a slight 2.4 percent over the past week to JPY 653.00 ($6.28) per 10 grams. Following a 0.7 percent increase in the week prior, the price of US silver fell 2.2 percent last week to $19.25 per ounce. The price of Indian silver fell 1.4 percent to INR 44,799 ($722.22) per kilogram after rising 1.5 percent the week before. The price of Chinese silver fell 1.0 percent over the past week to CNY 3,985 ($656.35) per kilogram. This was the third week in a row of declining prices.

Following a 0.4 percent increase in the week prior, the price of US platinum bar fell 3.4 percent last week to $1,315 per ounce. The price of Chinese platinum bar fell 2.1 percent to CNY 280.00 ($46.12) per gram after rising 0.4 percent the week before. Following a 1.4 percent increase in the week prior, the price of Japanese platinum bar fell 2.1 percent last week to JPY 4,439 ($42.67) per gram.

US palladium bar prices were off slightly at $695.00 per ounce, down from $715.00 a week ago. Chinese palladium bar saw a 2.5 percent decline over the past week to CNY 155.00 ($25.53) per gram. The price of Japanese palladium bar declined 2.5 percent over the past week, settling at JPY 2,339 ($22.48) per gram.

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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