palladium price

According to a World Gold Council report released last week, gold demand for 2014 stood at 842.7 metric tons compared to 974.8 mt in 2013.

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Demand for gold in India fell by 14% in 2014 led by a sharp contraction in investment demand, which fell in response to restrictions on gold imports, which were in place most of the year.

Total investment demand fell by 50% to 180.6 mt, even though demand for gold jewellery rose by 8% at 662.1 mt

In value terms, overall gold demand was lower by 23% in dollar terms, the report said.

On Wednesday, February 18, the day’s biggest mover was Indian silver, which saw a 2.8% decline to INR 37,470 ($603.19) per kilogram. At JPY 650.00 ($5.45) per 10 grams, Japanese silver fell 1.7% on Wednesday. US silver finished the day up 0.3% to $16.36 per ounce. The price of Chinese silver held steady at CNY 3,640 ($581.81) per kilogram.

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Japanese gold bullion ended the day at JPY 4,623 ($38.78) per gram, after the 1.3% drop on Wednesday. Indian gold bullion closed 0.9% lower at INR 26,447 ($425.74) per 10 grams. The price of US gold bullion declined 0.5% to $1,199 per ounce. The price of Chinese gold bullion remained essentially flat at CNY 247.91 ($39.63) per gram.

Japanese platinum bar finished the day down 2.0% to JPY 4,471 ($37.50) per gram. US platinum bar prices saw a 0.6% decline to $1,162 per ounce. Chinese platinum bar held its value on Wednesday at CNY 259.00 ($41.40) per gram.

The price of Japanese palladium bar increased 0.3% to JPY 3,100 ($26.00) per gram. US palladium bar closed 0.1% lower at $776.00 per ounce. At CNY 174.00 ($27.81) per gram, the price of Chinese palladium bar was essentially unchanged.

Gold and silver prices fell to their lowest levels since early January, wiping out a multiweek rally as weak short-term precious-metal demand and an easing of tensions over Greek sovereign debt combined to weigh on the safe-haven market.

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Gold appeared to be correcting from a recent rally that had been driven by concerns that the European Central Bank’s new round of stimulus could weaken currencies and prompt inflation, and that the election of a new government in Greece could threaten the country’s commitment to repaying its debt.

US silver saw the biggest price decline of the day, dropping 5.7% to close at $16.32 per ounce on Tuesday, February 17. The price of Indian silver declined 1.5% to INR 38,532 ($619.41) per kilogram. The price of Chinese silver increased 0.8% to CNY 3,640 ($582.30) per kilogram. Japanese silver prices rose 0.5% to JPY 661.00 ($5.58) per 10 grams.

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The price of US gold bullion fell 2.2% to $1,204 per ounce. Indian gold bullion prices saw a 0.8% decline to INR 26,691 ($429.07) per 10 grams. Japanese gold bullion ended the day at JPY 4,682 ($39.51) per gram, after the 0.2% drop on Tuesday. The price of Chinese gold bullion remained essentially flat at CNY 247.91 ($39.66) per gram.

At $1,169 per ounce, US platinum bar fell 2.9% on Tuesday. Japanese platinum bar ended the day at JPY 4,564 ($38.52) per gram, after the 1.0% drop yesterday. Chinese platinum bar stayed flat at around CNY 259.00 ($41.43) per gram.

The price of US palladium bar fell 1.4% to $777.00 per ounce. Japanese palladium bar held its value yesterday at JPY 3,091 ($26.09) per gram. At CNY 174.00 ($27.84) per gram, the price of Chinese palladium bar was essentially unchanged.

While gold has received most of the attention this year, silver actually outperformed it this week, particularly in the US.

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The strong dollar is still having an effect on all of the precious metals but silver showed encouraging signs this week.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US silver, which saw a 3.7% increase to $17.30 per ounce. This comes on the heels of a 3.1% decline the week prior. The price of Indian silver rose 3.3% to INR 39,120 ($630.20) per kilogram after falling 2.0% during the previous week. The price of Japanese silver rose 2.8% to JPY 658.00 ($5.55) per 10 grams after falling 0.9% during the previous week. The price of Chinese silver rose 1.5% to CNY 3,610 ($578.85) per kilogram after falling 2.2% during the previous week.

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At INR 26,912 ($433.54) per 10 grams, the price of Indian gold bullion finished the week down 1.0%. For the third week in a row, the price of Japanese gold bullion dropped, falling 0.8% to JPY 4,692 ($39.57) per gram. The price of Chinese gold bullion dropped 0.5% this week, closing out the third consecutive week of falling prices at CNY 248.10 ($39.78) per gram. For the third week in a row, the price of US gold bullion dropped, falling 0.2% to $1,231 per ounce.

Closing out the third week of declining prices, the price of US platinum bar dropped by 1.3%, finishing at $1,204 per ounce. The price of Chinese platinum bar fell 1.1% over the past week to CNY 259.00 ($41.53) per gram. This was the third week in a row of declining prices. Japanese platinum bar prices were off slightly at JPY 4,610 ($38.88) per gram, down from JPY 4,659 ($39.15) a week ago.

In the past week, Japanese palladium bar saw its price shift up 1.8% to JPY 3,091 ($26.07) per gram. Following a 1.1% increase in the week prior, the price of Chinese palladium bar fell 1.1% last week to CNY 174.00 ($27.90) per gram. Closing out the third week of rising prices, the price of US palladium bar increased by 0.8%, landing at $788.00 per ounce.

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 fell Tuesday, with thinner volumes seen as the market approaches the Lunar New Year.

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Gold for April delivery, the most actively traded contract, was down 1.1% at $1,213.60 an ounce on the Comex division of the New York Mercantile Exchange.

China vies with India for the top spot in terms of global consumption of the yellow metal, and the absence of traders at their desks during the extended holiday tends to mean lower demand and lower prices.

For Monday, February 16, US gold bullion traded sideways, keeping at $1,231 per ounce. The price of Chinese gold bullion held steady at CNY 248.10 ($39.78) per gram. The price of Indian gold bullion showed little movement last Friday at INR 26,912 ($433.54) per 10 grams. The price of Japanese gold bullion flattened at JPY 4,692 ($39.57) following two-days of declines.

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

Chinese silver stayed flat at around CNY 3,610 ($578.85) per kilogram. At INR 39,120 ($630.20) per kilogram, the price of Indian silver was essentially unchanged. The price of Japanese silver remained essentially flat at JPY 658.00 ($5.55) per 10 grams. US silver held its value last Friday at $17.30 per ounce.

Chinese platinum bar saw little change in its price last Friday at CNY 259.00 ($41.53) per gram. The price of US platinum bar held steady at $1,204 per ounce. The price of Japanese platinum bar showed little movement last Friday at JPY 4,610 ($38.88) per gram.

At JPY 3,091 ($26.07) per gram, the price of Japanese palladium bar was essentially unchanged. US palladium bar stayed flat at around $788.00 per ounce. The price of Chinese palladium bar remained steady at CNY 174.00 ($27.90) per gram.

Gold prices gained in Asia on Friday as investors eyed demand from the upcoming Chinese New Year, February 19, holidays next week.

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On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.25% to trade at $1,223.80 an ounce.

Also on the Comex, silver futures for March delivery rose 0.42% to trade at $16.865 an ounce.

Overnight, gold extended gains on Thursday, after weaker than expected US retail sales and jobless claims data dampened optimism over the strength of the economic recovery.

On Thursday, February 12, the day’s biggest mover was Indian silver, which saw a 2.8% decline to INR 37,904 ($607.49) per kilogram. The price of US silver declined 0.7% to $16.79 per ounce. Chinese silver prices saw a 0.3% decline to CNY 3,560 ($570.27) per kilogram. Japanese silver finished the day down 0.2% to JPY 642.00 ($5.34) per 10 grams.

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

Indian gold bullion ended the day at INR 26,776 ($429.14) per 10 grams, after the 1.3% drop yesterday. Chinese gold bullion closed 1.3% lower at CNY 245.75 ($39.37) per gram. The price of US gold bullion fell 1.3% to $1,218 per ounce. Japanese gold bullion prices saw a 0.5% decline to JPY 4,720 ($39.28) per gram.

The price of Chinese platinum bar fell 1.5% to CNY 258.00 ($41.33) per gram on Thursday after two days of no change. The price of US platinum bar declined 1.2% to $1,191 per ounce. At JPY 4,597 ($38.25) per gram, Japanese platinum bar fell 1.1% on Thursday.

Chinese palladium bar ended the day at CNY 174.00 ($27.87) per gram, after the 0.6% drop yesterday. US palladium bar finished the day down 0.3% to $766.00 per ounce. The price of Japanese palladium bar remained steady at JPY 2,979 ($24.79) per gram.

This week Austrian steelmaker Voestalpine AG talked to the media for the first time about its project to fuse aluminum with steel for automotive use. Voestalpine also said low oil prices will not hinder its attempts to enter the US automotive market.

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In platinum Glencore officially divested its interest in platinum/palladium miner Lonmin Plc by selling it to its investors.

The week’s biggest mover on the weekly Automotive MMI® was the price of US platinum bar, which saw a 4.0% decline to $1,191 per ounce. This week marked the third in a row of declining prices for the metal. US palladium bar saw a 3.0% drop-off this week to end at $766.00 per ounce.

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

Closing out the third week of declining prices, the price of US HDG dropped by 2.4%, finishing at $694.00 per short ton.

After a 2.3% decline, Korean 5052 coil premium over 1050 sheet closed out the week at KRW 4,163 ($3.79) per kilogram. Following a 4.0% increase in the week prior, the primary copper cash price fell 1.1% on the LME last week to $5,645 per metric ton. Following a 0.8% drop, the price of Chinese lead finished the week at CNY 12,550 ($2,010) per metric ton. The 3-month price of copper fell 0.7% on the LME to $5,648 per metric ton after rising 4.2% the week before.

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 rout in commodity prices to the lowest in 12 years will spur deeper spending cuts by the world’s biggest mining companies in Africa, hurting a region more reliant on mineral exports than any other on the planet.

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Miners will scale back spending by $20 billion this year, according to Macquarie Group Ltd., as they cut growth plans amid waning demand for raw materials. With projects planned during the decade-long commodities boom now being shelved, Africa is likely to bear the brunt of the cuts, investors told Bloomberg News.

Unrest in the Democratic Republic of Congo as well as uncertainty over mining taxes in Zambia — the two largest copper producers on the continent — has added to investor unease in recent weeks.

On Wednesday, February 11, the day’s biggest mover was the price of Indian silver, which saw a 3.3% increase to INR 38,999 ($625.52) per kilogram. This increase comes after the price fell for the two previous days. At $16.91 per ounce, US silver fell 0.4% on Wednesday. The price of Chinese silver fell 0.1% to CNY 3,570 ($572.27) per kilogram. The price of Japanese silver showed little movement yesterday at JPY 643.00 ($5.39) per 10 grams.

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

Indian gold bullion finished the day down 0.6% to INR 27,136 ($435.24) per 10 grams. The price of Chinese gold bullion fell 0.5% to CNY 249.00 ($39.91) per gram. US gold bullion finished the day down 0.4% to $1,234 per ounce. At JPY 4,743 ($39.73) per gram, the price of Japanese gold bullion was essentially unchanged.

US platinum bar closed 0.7% lower at $1,206 per ounce. The price of Chinese platinum bar remained steady at CNY 262.00 ($42.00) per gram. The price of Japanese platinum bar steadied at JPY 4,647 ($38.93) per gram following two-days of dropping prices.

US palladium bar ended the day at $768.00 per ounce, after the 1.2% drop on Wednesday. At CNY 175.00 ($28.05) per gram, Chinese palladium bar fell 0.6% yesterday. The price of Japanese palladium bar held steady at JPY 2,979 ($24.96) per gram.

Glencore Plc, the mining and commodities trading company headed by billionaire Ivan Glasenberg, said it’s planning to distribute its 23.9% holding in platinum producer Lonmin Plc to its own shareholders, Bloomberg News reported.

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“As we do not trade platinum and have no special insight into the market, we believe that it is better to leave to our shareholders the decision as to how to manage the Lonmin shares,” Glasenberg said in a statement Wednesday.

Shares of Lonmin, the world’s third-biggest platinum producer, slumped 5.6% to 162.8 pence by 1 p.m. in London. Glencore’s stake is worth about $347 million. Glencore was little changed at 271.4 pence.

On Tuesday, February 10, Japanese palladium bar fell by 1.8% to JPY 2,979 ($25.12) per gram, making it the day’s biggest mover. US palladium bar closed 0.6% lower at $777.00 per ounce. After a couple of days of decreasing prices, the price of Chinese palladium bar held steady at CNY 176.00 ($28.17).

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

US platinum bar prices saw a 0.4% decline to $1,215 per ounce. Japanese platinum bar ended the day at JPY 4,647 ($39.19) per gram, after the 0.3% drop on Tuesday. Chinese platinum bar held its value yesterday at CNY 262.00 ($41.93) per gram.

After falling for two days, the price of US gold bullion rose 0.4% to $1,239 per ounce. The price of Indian gold bullion is back up, rising by 0.4% on Tuesday to close at INR 27,292 ($439.17) per 10 grams. Following a 0.4% rise yesterday, the price of Chinese gold bullion closed at CNY 250.35 ($40.07) per gram. The price of Japanese gold bullion rose 0.3% to JPY 4,743 ($40.00) per gram after a two-day drop.

US silver finished the day up 1.7% to $16.97 per ounce. Following a two-day drop, the price of Chinese silver increased by 0.6% to CNY 3,575 ($572.16) per kilogram. The price of Japanese silver rose 0.5% to JPY 643.00 ($5.42) per 10 grams after a two-day drop. The price of Indian silver fell 0.3% to INR 37,762 ($607.64) per kilogram.

The Bank of Montreal has launched a new way for investors to buy physical gold, offering greater security than private storage.

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The launch comes at a critical time for bullion, with investors in recent weeks making a tentative return to the market after a prolonged exodus as the oil rout and euro zone instability reignite gold’s appeal as a safe-haven investment.

The first of its kind in the US the Canadian bank’s new gold deposit receipt program (GOLDR) allows investors to buy and sell shares that are backed by physical bullion stored in Canada and which track the price of spot gold.

The week’s biggest mover on the weekly Global Precious Metals MMI® was US gold bullion, which saw a 3.9% decline to $1,233 per ounce. The past week saw Chinese gold bullion close at CNY 249.45 ($39.97) per gram after a 3.3% decline. After a 2.6% decline, Indian gold bullion closed out the week at INR 27,180 ($438.60) per 10 grams. Japanese gold bullion prices were off slightly at JPY 4,728 ($39.73) per gram, down from JPY 4,843 ($41.32) a week ago.

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

US silver saw a 3.1% drop-off this week to end at $16.68 per ounce. After a 2.2% decline, Chinese silver closed out the week at CNY 3,555 ($569.62) per kilogram. Indian silver fell 2.0% over the past week to INR 37,881 ($611.27) per kilogram. Japanese silver saw a 0.9% decline over the past week to JPY 640.00 ($5.38) per 10 grams.

The price of Chinese platinum bar declined 1.5% over the past week, settling at CNY 262.00 ($41.98) per gram. US platinum bar prices were off slightly at $1,220 per ounce, down from $1,238 a week ago. At JPY 4,659 ($39.15) per gram, the week finished with no movement for Japanese platinum bar.

In the past week, the price of Japanese palladium bar shot up 3.1% to JPY 3,035 ($25.51) per gram. The price of US palladium bar rose 1.7% to $782.00 per ounce after falling 0.5% during the previous week. Following a 1.1% increase, Chinese palladium bar finished the week at CNY 176.00 ($28.20) 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.

Gold dipped on Tuesday as an uptick in the dollar offset the supportive impact of concerns over Greece’s future in the euro zone and fears over escalating violence in Ukraine, which hurt risk appetite.

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A 0.2% in the dollar against its currency basket led gold to stall after the previous day’s rise, preventing a steeper recovery from Friday’s three-week low.

Spot gold was down 0.2% at $1,236.30 an ounce this morning, while US gold futures for April delivery were down $4.90 an ounce also at $1,236.60.

Prices slid to $1,228.25 on Friday after upbeat US jobs data fuelled expectations that the Federal Reserve will raise interest rates this year, overriding concerns, Reuters reported.

On Monday, February 9, the day’s biggest mover was US silver, which saw a 3.7% decline to $16.68 per ounce. The price of Chinese silver fell 1.7% to CNY 3,555 ($569.62) per kilogram. Japanese silver prices saw a 1.4% decline to JPY 640.00 ($5.38) per 10 grams. The price of Indian silver declined 1.1% to INR 37,881 ($611.27) per kilogram.

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

US gold bullion prices saw a 2.5% decline to $1,233 per ounce. The price of Chinese gold bullion declined 2.1% to CNY 249.45 ($39.97) per gram. Indian gold bullion finished the day down 1.1% to INR 27,180 ($438.60) per 10 grams. Japanese gold bullion closed 1.1% lower at JPY 4,728 ($39.73) per gram.

Following two days of rising prices, the price of Chinese platinum bar dropped 2.2% to CNY 262.00 ($41.98) per gram. At $1,220 per ounce, US platinum bar fell 1.6% yesterday. The price of Japanese platinum bar fell 1.2% to JPY 4,659 ($39.15) per gram.

The price of Japanese palladium bar finished the day at JPY 3,035 ($25.51) per gram following a 3.1% increase. Chinese palladium bar ended the day at CNY 176.00 ($28.20) per gram, after the 1.1% drop on Monday. The price of US palladium bar declined 0.9% to $782.00 per ounce.

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