This week in precious metals, Tanaka became the first company to sinter platinum in a 3D printer, Russia kept on hoarding palladium and gold to prop up its highly sanctioned economy, and a reversal of economic fortune in Germany helped push gold prices up across the board.
Even silver is seeing demand increase due to low prices.
Japanese silver saw the largest upwards shift on the weekly Global Precious Metals MMI®, rising 5.5% to settle at JPY 609.00 ($5.17) per 10 grams. Following a 2.9% increase in the week prior, the price of Indian silver fell 3.2% last week to INR 36,138 ($585.06) per kilogram. US silver prices ticked up 2.0% over the past week to $16.39 per ounce. The price of Chinese silver fell 0.1% to CNY 3,520 ($574.75) per kilogram after rising 2.3% the week before.
A 4.7% jump caught the week’s heaviest change for Japanese gold bullion. The price of Indian gold bullion increased by a slight 1.7% over the past week to INR 27,067 ($438.21) per 10 grams. Chinese gold bullion gained a slight 1.4% this past week, finishing at CNY 237.15 ($38.72) per gram. US gold bullion rose 1.1% over the past week to $1,196 per ounce.
The price of Japanese platinum bar rose 3.2% this week, closing out the third week at JPY 4,590 ($38.98) per gram. The price of Chinese platinum bar rose 1.2% to CNY 257.00 ($41.96) per gram after falling 0.8% during the previous week. In the past week, US platinum bar saw its price shift up 0.8% to $1,208 per ounce.
Over the past week, US palladium bar rose 4.1% to $796.00 per ounce. Chinese palladium bar saw its price rise 2.4% over the past week to CNY 174.00 ($28.41) per gram. At JPY 2,885 ($24.50) per gram, the price of Japanese palladium bar finished the week 1.2% higher.
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.