Another Record-Setting Week For Palladium

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Palladium is now at a 13-year-high as the situation in Ukraine has pushed prices up even further on supply concerns from number two producer Russia. Meanwhile, a strengthening dollar has hindered gold’s advances.

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Unsurprisingly, South Africa’s three big platinum miners – Impala, Anglo-American Platinum and Lonmin – all posted big losses this week as the full effect of the mining strike earlier this year was finally seen on a balance sheet. Implats and AmPlats both hinted that restructuring was coming.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 3.2 percent increase to JPY 2,994 ($28.87) per gram. This comes on the heels of a 1.4 percent decline the week prior. The price of Chinese palladium bar rose 3.1 percent to CNY 198.00 ($32.23) per gram after falling 1.5 percent during the previous week. The price of US palladium bar rose 0.8 percent to $883.00 per ounce after falling 2.0 percent during the previous week.

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US platinum bar saw a 1.0 percent decline over the past week to $1,400 per ounce. The price of Japanese platinum bar rose 0.7 percent to JPY 4,781 ($46.10) per gram after falling 1.2 percent during the previous week. The price of Chinese platinum bar rose 0.3 percent to CNY 300.00 ($48.84) per gram after falling 2.3 percent during the previous week.

The price of Indian gold bullion rose 1.7 percent to INR 28,095 ($463.51) per 10 grams after falling 2.8 percent during the previous week. The price of Japanese gold bullion rose 0.6 percent to JPY 4,295 ($41.41) per gram after falling 0.3 percent during the previous week. The price of Chinese gold bullion rose 0.4 percent to CNY 254.70 ($41.46) per gram after falling 1.5 percent during the previous week. The price of US gold bullion rose 0.2 percent to $1,281 per ounce after falling 1.6 percent during the previous week.

Japanese silver rose 2.2 percent over the past week to JPY 650.00 ($6.27) per 10 grams. The price of Indian silver rose 2.1 percent to INR 42,890 ($707.60) per kilogram after falling 3.5 percent during the previous week. The price of Chinese silver rose 0.8 percent to CNY 4,220 ($686.97) per kilogram after falling 0.6 percent during the previous week. At $19.36 per ounce, the price of US silver did not change since 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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