palladium price

Without major central bank actions, precious metals will continue to fall in Q2 and possibly longer.

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The decline that began in February has taken hold for metals such as palladium, gold and platinum and it looks to be a long-term trend that won’t end, based on market forces alone, for some time.

Global-Precious-Metals_Chart_April-2015_FNL

Palladium price weakness pushed the monthly Global Precious Metals MMI® to a value of 83 in April, a decrease of 3.5% from 86 in March. Read more

The week’s biggest mover on the weekly Automotive MMI® was the cash price of primary copper, which saw a 7.8% increase on the LME to $6,134 per metric ton. This comes on the heels of a 1.6% decline the week prior. The copper 3-month price rose 7.7% on the LME to $6,110 per metric ton after falling 1.4% during the previous week. The price of Chinese lead rose 1.2% to CNY 12,550 ($2,020) per metric ton after falling 0.4% during the previous week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,010 ($3.64) per kilogram.

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The price of US HDG dropped 1.1% this week, closing out the third consecutive week of falling prices at $639.00 per short ton.

The price of US platinum bar rose 2.5% to $1,141 per ounce after falling 0.2% during the previous week. At $763.00 per ounce, the price of US palladium bar finished the week down 2.1%.

The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

North American Palladium‘s stock rose by 51.8% in the past month. This combination of strong price performance and favorable technical data, could suggest that the stock is on the right path.

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North American is an established PGM producer that has been operating its main revenue source, its Lac des Iles mine in northern Ontario, Canada, since 1993.

The week’s biggest mover on the weekly Automotive MMI®, US palladium bar jumped 2.5% to close at $824.00 per ounce. US platinum bar gained a slight 1.0% this past week, finishing at $1,180 per ounce.

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The price of US HDG fell 1.8% over the past week to $662.00 per short ton. This was the fourth week in a row of declining prices.

The price of Chinese lead fell 1.6% for the week to settle at CNY 12,450 ($1,985) per metric ton. Finishing the fourth week of rising prices, the 3-month price of copper increased by 1.4% on the LME, finishing at $5,865 per metric ton. The cash price of primary copper increased 1.3% on the LME this week, closing out the fourth consecutive week of rising prices at $5,881 per metric ton. In the past week, Korean 5052 coil premium over 1050 sheet saw its price shift up 0.5% to KRW 4,016 ($3.65) per kilogram.

The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

The gold price fell to a two-month low on Friday, after data showed the US economy created more jobs than expected last month, bolstering the case for the Federal Reserve to raise interest rates around the middle of this year.

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Gold for April delivery, the most actively traded contract, was recently down 0.9% at $1,185.70 an ounce on the Comex division of the New York Mercantile Exchange. That is the lowest intraday level for the most active gold contract since Jan. 5.

US employers added 295,000 jobs to payrolls in February and the unemployment rate fell to 5.5%, the Labor Department said Friday. Economists surveyed by The Wall Street Journal had expected payrolls to increase by 240,000.

Japanese silver saw a 1.4% drop on Thursday, March 5, landing at JPY 634.00 ($5.30) per 10 grams and making it the biggest mover of the day. The price of Indian silver rose 0.5% to INR 37,302 ($598.65) per kilogram after a two-day drop. The price of Chinese silver fell 0.4% to CNY 3,510 ($559.52) per kilogram. The price of US silver flattened at $16.21 following two-days of declines.

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The price of Indian gold bullion is back up, rising by 0.5% yesterday to close at INR 26,747 ($429.25) per 10 grams. Chinese gold bullion closed 0.3% lower at CNY 243.64 ($38.84) per gram. At $1,200 per ounce, US gold bullion fell 0.3% yesterday. The price of Japanese gold bullion declined 0.2% to JPY 4,641 ($38.79) per gram.

US platinum bar finished the day down 0.2% to $1,180 per ounce. After a 0.2% increase, Japanese platinum bar finished the day at JPY 4,574 ($38.23) per gram. At CNY 257.00 ($40.97) per gram, the price of Chinese platinum bar was essentially unchanged.

US palladium bar ended the day at $824.00 per ounce, after the 0.2% drop yesterday. The price of Japanese palladium bar steadied at JPY 3,202 ($26.76) per gram following two-days of increases. The price of Chinese palladium bar flattened at CNY 186.00 ($29.65) after two days of improvement.

MetalMiner’s monthly Automotive MMI® has hit some bumps in the road – but the wheels haven’t quite fallen off yet.

Automotive_Chart_March-2015_FNL

Our automotive metals price index fell to 85 in March, a decrease of 2.3% from 87 in February. While automotive continues to be one of our stronger metal sectors, particularly aluminum and palladium used in automotive applications, it’s being dragged down by crude oil and other commodities that are keeping prices low.

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Despite a relatively healthy US automotive industry and strong results from manufacturers of original equipment (OEMs), prices are not rising for automotive raw materials such as steel and copper. Copper prices are a big component of our Automotive MMI® and their free-fall continues (even though the 3-month LME copper price inched up a bit this month). General Motors recently cut production of some of its more popular models as the cars are sitting on dealer lots awaiting buyers despite low prices and abundant supply of materials. Read more

The Global Precious Metals MMI® fell to a value of 86 in March, succumbing to the across-the-board decline that has affected commodities this year. It was a decrease of 4.4% from 90 in February, a month in which gold and silver saw a sharp spike as a hedge against weaker currencies.

Global-Precious-Metals_Chart_March-2015_FNL

In February, gold and silver came back down to Earth and the precious metals status quo was maintained.

Fed Inaction Means No Action for Prices

The strong dollar and the resolution of Greece’s latest bailout talks have not helped the investment metals and gold, particularly, lost some of its value as a result this month. Palladium is still in high demand for industrial and automotive uses but, unlike last month, it could not overcome the losses felt by its fellow PGMs.

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The Federal Reserve is widely expected to raise interest rates in the second half of the year, but recent comments by Fed Chairwoman Janet Yellen seem to have soothed the fears of investors who believed such a move could come as early as June. Yellen said the Fed would proceed cautiously during minutes recently released from its 2009 open committee meetings.

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Gold’s relationship with silver and the stock market seems to have changed, writes Jamie Chisholm of the Financial Times.

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The mint ratio is the gold price divided by the silver price. Assuming supply stays reasonably stable, the mint has usually tended to rise when equities fall.

Yet, since mid-2011, the mint and the S&P 500 have rallied in tandem. There is no big jump in silver output to account for this. So does silver’s underperformance mean investors are skeptical about global demand?

Decreasing 1.3% made Indian silver the biggest mover of the day, finishing at INR 37,100 ($600.13) per kilogram on Wednesday, March 4. US silver prices saw a 0.8% decline to $16.23 per ounce. Chinese silver saw its price rise 0.7% to CNY 3,525 ($561.81) per kilogram. The price of Japanese silver held steady at JPY 643.00 ($5.37) per 10 grams.

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Japanese gold bullion ended the day at JPY 4,650 ($38.87) per gram, after the 1.0% drop yesterday. The price of Indian gold bullion declined 0.3% to INR 26,623 ($430.65) per 10 grams. The price of US gold bullion fell 0.2% to $1,204 per ounce. Chinese gold bullion ended the day at CNY 244.29 ($38.93) per gram, after the 0.1% drop yesterday.

Japanese platinum bar finished the day down 0.5% to JPY 4,567 ($38.17) per gram. Chinese platinum bar prices rose 0.4% to CNY 257.00 ($40.96) per gram. US platinum bar prices saw a 0.2% decline to $1,182 per ounce.

At JPY 3,202 ($26.76), the price of Japanese palladium bar finished the market day up 1.0% per gram. The price of Chinese palladium bar increased 0.5% to CNY 186.00 ($29.64) per gram. The price of US palladium bar remained essentially flat at $826.00 per ounce.

Precious metals miner Fresnillo PLC reported lower-than-expected full-year profit and revenue, hurt by falling gold and silver prices.

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Shares in the company fell as much 8.7%. A Reuters poll in January forecast a further decline in silver and gold prices in 2015, with gold expected to average around $1,234 an ounce and silver expected to fetch about $17.20 an ounce.

The company’s pretax profit fell to $251.1 million in the year ended Dec. 31 from $418.7 million a year earlier.

The day’s biggest mover was Chinese silver, dropping 2.6% to settle at CNY 3,500 ($557.67) per kilogram on Tuesday, March 3. The price of US silver closed Tuesday at $16.36 per ounce, halting its two-day flat run with a 1.1% decline. Following a couple days of improvement, the price of Indian silver weakened by 0.8%. Prices closed at INR 37,599 ($607.34) per kilogram. Japanese silver finished the day up 0.8% to JPY 643.00 ($5.35) per 10 grams.

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Japanese gold bullion prices rose 1.5% to JPY 4,699 ($39.09) per gram. The price of Indian gold bullion fell 1.4% to INR 26,715 ($431.53) per 10 grams. Chinese gold bullion finished the day down 1.1% to CNY 244.60 ($38.97) per gram. At $1,206 per ounce, US gold bullion fell 0.3% yesterday.

The price of Japanese platinum bar increased 1.6% to JPY 4,590 ($38.18) per gram. At $1,184, the price of US platinum bar finished the market day up 1.0% per ounce. Chinese platinum bar closed 0.4% lower at CNY 256.00 ($40.79) per gram.

US palladium bar saw its price rise 2.4% to $826.00 per ounce. After a 1.7% increase, Japanese palladium bar finished the day at JPY 3,171 ($26.38) per gram. Chinese palladium bar finished the day up 0.5% to CNY 185.00 ($29.48) per gram.

Gold and silver prices increased this week as Federal Reserve Chairwoman Janet Yellen continued to downplay the possibility of raising interest rates in the short term.

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In the world’s largest gold market, India, the presiding government refused industry demands for a decrease in the 10% gold import tax and, like the Fed, its rate will remain unchanged.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 6.3% increase to JPY 638.00 ($5.32) per 10 grams. This comes on the heels of a 8.8% decline the week prior. The price of Indian silver rose 4.9% to INR 37,912 ($615.02) per kilogram after falling 7.6% during the previous week. The price of Chinese silver fell 1.2% to CNY 3,595 ($574.43) per kilogram after rising 0.8% the week before. The price of US silver rose 0.5% to $16.53 per ounce after falling 4.9% during the previous week.

* Get the complete prices every day on the MetalMiner IndX℠

The price of Indian gold bullion rose 2.6% to INR 27,108 ($439.75) per 10 grams after falling 1.8% during the previous week. The price of Japanese gold bullion rose 0.7% to JPY 4,630 ($38.64) per gram after falling 2.0% during the previous week. The price of US gold bullion rose 0.4% to $1,209 per ounce after falling 2.2% during the previous week. After a 0.2% decline, Chinese gold bullion closed out the week at CNY 247.30 ($39.51) per gram.

The price of Japanese platinum bar rose 1.7% to JPY 4,517 ($37.69) per gram after falling 3.6% during the previous week. Chinese platinum bar saw a 0.8% decline over the past week to CNY 257.00 ($41.06) per gram. The price of US platinum bar rose 0.7% to $1,172 per ounce after falling 3.3% during the previous week.

A 5.7% jump caught the week’s heaviest change for Chinese palladium bar. The price of US palladium bar rose 3.3% to $807.00 per ounce after falling 0.9% during the previous week. The price of Japanese palladium bar rose 2.0% to JPY 3,117 ($26.01) per gram after falling 1.1% during the previous week.

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.

Gold prices edged higher Tuesday as a pullback in US equities and a weaker dollar lent support to the precious metal.

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The most actively traded contract, for April delivery, was recently up $3.50, or 0.3%, at $1,211.70 an ounce on the Comex division of the New York Mercantile Exchange.

Gold had been under pressure as a rally in US stocks lured away investors in recent months. The S&P 500 index and the Dow Jones Industrial Average both closed at fresh records on Monday, while the Nasdaq Composite rose above 5000 for the first time in nearly 15 years.

In other markets, palladium prices held near a five-month high as some investors wagered that China will mandate clear air-quality standards at an annual meeting of its legislature, which starts Thursday.

The price of Indian gold bullion closed as the biggest mover for Monday, March 2. Switching from a downward trend, the metal closed at INR 27,108 ($439.75) per 10 grams following a 2.6% increase. Chinese gold bullion finished the day up 1.0% to CNY 247.30 ($39.51) per gram. The price of US gold bullion remained steady at $1,209 per ounce. After a couple of days of improving prices, the price of Japanese gold bullion held steady at JPY 4,630 ($38.64).

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Indian silver saw its price rise 2.6% to INR 37,912 ($615.02) per kilogram. After a 0.8% increase, Chinese silver finished the day at CNY 3,595 ($574.43) per kilogram. Following a two-day rise, the price of Japanese silver flattened at JPY 638.00 ($5.32). US silver stayed flat at around $16.53 per ounce.

The price of Chinese platinum bar increased 1.2% to CNY 257.00 ($41.06) per gram. The price of US platinum bar steadied at $1,172 per ounce following two-days of increases. The price of Japanese platinum bar flattened at JPY 4,517 ($37.69) after two days of improvement.

Chinese palladium bar gained 0.5% to finish at CNY 184.00 ($29.40) per gram. The price of Japanese palladium bar ended a two-day climb, settling at JPY 3,117 ($26.01) per gram. Following a two-day rise, the price of US palladium bar flattened at $807.00.

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