Global Precious Metals MMI®: Gold Falls After Early-Year Rally

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Gold Prices Going Up

Gold slipped this week after its early January rally.

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The Federal Reserve said that it will exercise “patience” in any moves to increase interest rates as the strong dollar looks like it will just keep rising for the foreseeable future.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 6.2% decline to JPY 646.00 ($5.51) per 10 grams. This comes on the heels of a 9.4% increase the week before. Following a 3.5% increase in the week prior, the price of US silver fell 5.8% last week to $17.23 per ounce. The price of Indian silver fell 5.1% to INR 38,655 ($623.26) per kilogram after rising 3.1% the week before. Following a 3.7% increase in the week prior, the price of Chinese silver fell 4.8% last week to CNY 3,635 ($581.65) per kilogram.

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The price of Japanese gold bullion fell 1.5% to JPY 4,843 ($41.32) per gram after rising 4.5% the week before. Following a 0.8% increase in the week prior, the price of Indian gold bullion fell 0.9% last week to INR 27,899 ($449.84) per 10 grams. The price of Chinese gold bullion fell 0.9% to CNY 257.90 ($41.27) per gram after rising 1.8% the week before. Following a 1.6% increase in the week prior, the price of US gold bullion fell 0.9% last week to $1,283 per ounce.

The price of Japanese platinum bar fell 3.5% to JPY 4,658 ($39.75) per gram after rising 3.0% the week before. Following a 0.2% increase in the week prior, the price of US platinum bar fell 2.1% last week to $1,238 per ounce. The price of Chinese platinum bar fell 1.8% to CNY 266.00 ($42.56) per gram after rising 1.1% the week before.

The price of Japanese palladium bar rose 0.6% to JPY 2,944 ($25.12) per gram after falling 1.8% during the previous week. Following a 2.1% increase in the week prior, the price of US palladium bar fell 0.5% last week to $769.00 per ounce. Chinese palladium bar remained essentially flat from the previous week at CNY 174.00 ($27.84) 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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