A Comeback for Platinum and Palladium?

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Platinum and palladium futures rose this past week as traders swooped in to take advantage of prices that have fallen as a result of the strong US dollar.

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Russian and Swiss central banks looked to take advantage of the lower prices by stockpiling platinum and gold, respectively.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese palladium bar, which saw a 4.2% increase to JPY 2,742 ($25.19) per gram. This comes on the heels of a 7.3% decline the week prior. The price of US palladium bar rose 2.6% to $779.00 per ounce after falling 3.4% during the previous week. The price of Chinese palladium bar fell 0.6% to CNY 174.00 ($28.33) per gram after rising 1.7% the week before.

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The price of Japanese platinum bar rose 3.7% to JPY 4,378 ($40.21) per gram after falling 8.1% during the previous week. Following a 0.4% increase in the week prior, the price of Chinese platinum bar fell 2.5% last week to CNY 268.00 ($43.64) per gram. The price of US platinum bar rose 1.4% to $1,260 per ounce after falling 4.7% during the previous week.

The price of US gold bullion rose 2.0% to $1,223 per ounce after falling 1.6% during the previous week. The price of Japanese gold bullion rose 1.3% to JPY 4,240 ($38.94) per gram after falling 2.4% during the previous week. Indian gold bullion gained a slight 1.1% this past week, finishing at INR 27,293 ($445.20) per 10 grams. Following a 1.0% increase, Chinese gold bullion finished the week at CNY 243.88 ($39.71) per gram.

The price of Indian silver rose 2.1% to INR 39,515 ($644.56) per kilogram after falling 1.0% during the previous week. The price of Japanese silver rose 1.9% to JPY 600.00 ($5.51) per 10 grams after falling 4.2% during the previous week. The price of US silver rose 1.7% to $17.39 per ounce after falling 2.4% during the previous week. In the past week, Chinese silver saw its price shift up 0.3% to CNY 3,940 ($641.51) per kilogram.

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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