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.
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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.
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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.