Monthly Global Precious Metals MMI®: Gold and Silver Bounce Back

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Gold, silver and bronze

Gold and silver bounced back strongly this week. On the Comex, gold futures hit a 6-week high.

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MetalMiner Lead Analyst Raul de Frutos cautions that this could be nothing more than bargain-hunting at low prices for the investment metals.

The monthly Global Precious Metals MMI® registered a value of 87 in December, an increase of 1.2% from 86 in November.

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For the second month in a row, the price of Japanese palladium bar increased, rising 11.5% over the past month to $25.90 per gram. The price of Japanese gold bullion closed the month up 4.1% at $37.18 per gram. At $38.48 per gram, the price of Japanese platinum bar increased 3.3%. At $1,196, US gold bullion finished the month up 2.3% per ounce. US silver rose 1.4% to $16.30 per ounce. Chinese palladium bar prices inched up 1.1% to $28.60 per gram. At $802.00 per ounce, the price of US palladium bar finished the month 0.4% higher. This was the second straight month of declines.

Following a 8.1% decline in price, Chinese silver finished the month at $525.61 per kilogram. At $4.76 per 10 grams, Japanese silver was down 3.9% for the month. The price of Chinese platinum bar drifted 2.3% lower to $40.94 per gram. Indian silver fell 1.8% to $603.01 per kilogram. US platinum bar prices decreased by 1.1% this month, ending at $1,225 per ounce. Last month, Chinese gold bullion prices dropped by 0.7% to $37.03 per gram. The value of Indian gold bullion weakened by 0.2% this month, settling at $424.39 per 10 grams.

The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends over a 30-day period. 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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