platinum price

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.

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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.

Gold and silver futures rose for the first time in three sessions as a dispute between Greece’s prime minister and international lenders escalated, boosting demand for the precious metals as a haven. Gold futures for April delivery rose 0.4% to $1,239 an ounce at 10:05 a.m. on the Comex in New York. The price dropped 2.4% in the previous two sessions on gains in the US economy.

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New Prime Minister Alex Tsipras has said Greece, unable to service its debt, would instead seek a bridge loan from its fellow EU member-states than the bailout program currently under way.

“The bailout failed,” Mr Tsipras said on Sunday, in his first major speech to parliament since becoming prime minister. “The new government is not justified in asking for an extension… because it cannot ask for an extension of mistakes.”

Greece’s bonds and stocks fell as Tsipras showed little sign of backing down in the standoff with creditors as he began three days of debates on his government’s policy plans. In January, gold rose 8%, partly on European economic concerns.

Meanwhile, India’s Trade Ministry has asked the nation’s Finance Ministry to reduce the gold import tax to 2% from 10%, according to a report in the Wall Street Journal that cited an unidentified source.

Following two days of increases, the price of Indian silver dropped by 2.8% to end at INR 38,311 ($620.54) per kilogram on Friday, February 6. After improving for two days, the price of Japanese silver declined 1.4% to JPY 649.00 ($5.52) per 10 grams. At CNY 3,615 ($578.12) per kilogram, Chinese silver fell 0.8% last Friday. Following a two-day rise, the price of US silver flattened at $17.33.

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Indian gold bullion ended the day at INR 27,495 ($445.35) per 10 grams, after the 0.6% drop last Friday. The price of Chinese gold bullion fell 0.6% to CNY 254.75 ($40.74) per gram. US gold bullion prices saw a 0.3% decline to $1,265 per ounce. The price of Japanese gold bullion declined 0.2% to JPY 4,782 ($40.68) per gram.

Japanese platinum bar prices rose 1.1% to JPY 4,717 ($40.13) per gram. Chinese platinum bar gained 0.4% to finish at CNY 268.00 ($42.86) per gram. The price of US platinum bar ended a two-day climb, settling at $1,240 per ounce.

Chinese palladium bar finished the day down 0.6% to CNY 178.00 ($28.47) per gram. US palladium bar closed 0.1% lower at $789.05 per ounce. The price of Japanese palladium bar remained essentially flat at JPY 2,944 ($25.05) per gram.

The monthly Global Precious Metals MMI® registered a value of 90 in February, an increase of 4.7% from 86 in January.

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Unlike their base metal brethren, gold and silver got 2015 off to a raring start finding fertile growth ground as hedges against a suddenly uncertain political situation in Europe. Greece elected a far-left new government that is, once again, threatening to abandon the common currency. While lead forecasting analyst Raul De Frutos points out that the strong dollar is likely to weigh down both gold and silver in the long term, the last month has been an unmitigated gain for them.

Global-Precious-Metals_Chart_February-2015_FNL

The recession in Russia is actually good for both, and particularly good for gold. With oil at a 5-year low and economic sanctions effectively gutting international investment in the Russian economy it’s a very good time to mine for gold there.

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A week after nearing one definition of a bull market, silver price, on Jan. 29, fell the most since 2013, wiping $645 million in one day from the value of global funds linked to silver.

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The volatility in silver over the past five years has been about double that of gold, data compiled by Bloomberg show. Bigger price swings increase the chances of bigger losses compared with more stable assets.

Holdings in ETPs backed by silver fell 0.3% last month, after declining 3% in December, while gold holdings jumped 4.1% in January, data compiled by Bloomberg show. Retail investors account for 80% of US purchases, ETF Securities LLC estimates.

With a 2.2% increase on Thursday, February 5, Indian silver was the biggest mover on the Global Precious Metals MMI®. Japanese silver finished the day up 1.9% to JPY 658.00 ($5.61) per 10 grams. Following a two-day drop, the price of Chinese silver increased by 1.4% to CNY 3,645 ($583.56) per kilogram. The price of US silver increased 0.3% to $17.33 per ounce.

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

The price of Chinese gold bullion rose 0.9% to CNY 256.30 ($41.03) per gram after a two-day drop. After falling for two days, the price of Indian gold bullion rose 0.7% to INR 27,670 ($447.38) per 10 grams. The price of US gold bullion is back up, rising by 0.7% on Thursday to close at $1,269 per ounce. Following a 0.3% rise yesterday, the price of Japanese gold bullion closed at JPY 4,791 ($40.84) per gram.

Chinese platinum bar saw its price rise 0.8% to CNY 267.00 ($42.75) per gram. After a 0.7% increase, US platinum bar finished the day at $1,240 per ounce. At JPY 4,667 ($39.79) per gram, the price of Japanese platinum bar was essentially unchanged.

Chinese palladium bar prices inched up 1.7% to CNY 179.00 ($28.66) per gram. At $790.00, the price of US palladium bar finished the market day up 0.6% per ounce. Japanese palladium bar held its value yesterday at JPY 2,944 ($25.10) per gram.

AK Steel Holding Corp. said its fourth-quarter revenue rose 36% on sharply higher shipments, spurred by a strong automotive sector demand and a boost from a recent acquisition.

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Shares rose 3.7% to $4.20 in recent premarket trading as per-share profit, excluding items, beat expectations. AK Steel and other major US steelmakers have benefited from strong demand for automobiles but continue to face challenges from lower-priced imports.

Korean 5052 coil premium over 1050 sheet dropped to KRW 4,260 ($3.91) per kilogram making it the biggest mover on the weekly Automotive MMI® this week, after drifting 5.1%. The 3-month price of copper rose 4.2% on the LME to $5,685 per metric ton after falling 2.6% during the previous week. The primary copper cash price rose 4.0% on the LME to $5,707 per metric ton after falling 2.6% during the previous week. The price of Chinese lead remained steady from the previous week at CNY 12,650 ($2,025) per metric ton.

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Closing out the third week of declining prices, the price of US HDG dropped by 0.8%, finishing at $711.00 per short ton.

The price of US platinum bar declined 0.7% over the past week, settling at $1,240 per ounce. Following a 3.7% increase in the week prior, the price of US palladium bar fell 0.4% last week to $790.00 per ounce.

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.

Gold pared gains after rising 1% on Wednesday, losing its safe haven appeal on falling oil prices after the precious metal initially garnished support from China’s central bank’s move to stimulate its flagging economy.

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Spot gold dropped more than $4 an ounce within one minute shortly after data showed US crude oil stocks rose to a record high and the futures market later fell below the key $50 a barrel mark.

On Wednesday, February 4, Chinese gold bullion fell by 1.1% to CNY 254.10 ($40.62) per gram, making it the day’s biggest mover. At $1,260 per ounce, US gold bullion fell 1.1% on Wednesday. Indian gold bullion closed 1.0% lower at INR 27,475 ($445.87) per 10 grams. Japanese gold bullion prices saw a 0.5% decline to JPY 4,775 ($40.58) per gram.

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

US silver prices inched up 0.5% to $17.27 per ounce. Indian silver finished the day up 0.2% to INR 38,564 ($625.82) per kilogram. After falling for two days, the price of Japanese silver rose 0.2% to JPY 646.00 ($5.49) per 10 grams. The price of Chinese silver declined 0.1% to CNY 3,595 ($574.67) per kilogram.

The price of Japanese platinum bar is back up, rising by 1.0% on Wednesday to close at JPY 4,666 ($39.66) per gram. The price of US platinum bar increased 0.5% to $1,231 per ounce. Chinese platinum bar prices rose 0.4% to CNY 265.00 ($42.36) per gram.

Chinese palladium bar finished the day down 0.6% to CNY 176.00 ($28.13) per gram. The price of Japanese palladium bar remained steady at JPY 2,944 ($25.02) per gram. At $785.00 per ounce, the price of US palladium bar was essentially unchanged.

The monthly Automotive MMI® registered a value of 87 in February, a decrease of 2.2% from 89 in January.

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While prices of raw materials fall, end users continue to thrive. Major automakers with operations in the US all reported their best January domestic vehicles sales in at least 7 years, led by General Motors Co. low oil prices and falling unemployment have pushed sales higher at Ford Motor Co., Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., as well.

Automotive_Chart_February-2015_FNL

GM, the largest US automaker, was projected to increase sales by 19%, while No. 2 Ford’s deliveries were seen rising 13%, the averages of 9 estimates. Toyota deliveries increased 16%, topping the average estimate for a 13% gain.

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The palladium market was in a “sizeable deficit” in 2014, and is forecast to stay in if this year. Imports from the world’s largest palladium producer, Russia, to Switzerland continue to decline, Barclays said in a research note yesterday.

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“In line with our expectations for limited shipments from Russia, the Swiss trade data for December revealed that palladium imports were subdued at 6,700 oz. This takes shipments for 2014 to 184,000 oz, down two-thirds [from 517,300 oz in 2013],” Barclays analyst Suki Cooper told Platts.

The price of US palladium bar closed as the biggest mover for Tuesday, February 3. Switching from a downward trend, the metal closed at $785.00 per ounce following a 2.1% increase. Chinese palladium bar gained 1.7% to finish at CNY 177.00 ($28.27) per gram. The price of Japanese palladium bar remained essentially flat at JPY 2,944 ($25.04) per gram.

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

The price of US platinum bar fell 1.1% to $1,225 per ounce. Japanese platinum bar finished the day down 0.8% to JPY 4,620 ($39.29) per gram. At CNY 264.00 ($42.16) per gram, Chinese platinum bar fell 0.8% yesterday.

Japanese gold bullion closed 0.9% lower at JPY 4,800 ($40.82) per gram. The price of US gold bullion declined 0.7% to $1,274 per ounce. Indian gold bullion prices saw a 0.5% decline to INR 27,747 ($449.38) per 10 grams. Chinese gold bullion ended the day at CNY 257.00 ($41.05) per gram, after the 0.3% drop on Tuesday.

At CNY 3,600 ($574.95) per kilogram, Chinese silver fell 1.0% yesterday. Indian silver finished the day down 0.4% to INR 38,487 ($623.32) per kilogram. US silver closed 0.3% lower at $17.18 per ounce. Japanese silver ended the day at JPY 645.00 ($5.49) per 10 grams, after the 0.2% drop on Tuesday.

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.

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

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.

After two punishing years for Industrias Penoles SAB investors, the stock is poised for a rebound as the world’s biggest silver miner is having the best start in 8 years from surging metal prices, Bloomberg reports.

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Penoles, the operator of seven silver, zinc and lead mines in Mexico, has returned 4.9% this year through Wednesday, the stock’s best start to a year since 2007. The eighth-best performer on Mexico’s benchmark IPC index this year, Penoles was the worst performer on the index the prior two years when it tumbled 56%.

The turnaround for Torreon, Mexico-based Penoles, founded in 1887, is linked to rising gold and silver prices, according to Fernando Bolanos, an analyst at Grupo Financiero Monex SAB.

The price of Indian silver rose 3.4% on Monday, February 2, making it the day’s biggest mover. After two days of falling prices, it closed at INR 38,655 ($623.26) per kilogram. Japanese silver took a large hit on yesterday, sliding down 3.1% before landing at JPY 646.00 ($5.51) per 10 grams. Following a two-day drop, the price of US silver increased by 1.8% to $17.23 per ounce. After falling for two days, the price of Chinese silver rose 1.7% to CNY 3,635 ($581.65) per kilogram.

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

Following a 2.0% rise yesterday, the price of US gold bullion closed at $1,283 per ounce. The price of Chinese gold bullion rose 1.7% to CNY 257.90 ($41.27) per gram after a two-day drop. Indian gold bullion saw its price rise 1.6% to INR 27,899 ($449.84) per 10 grams. Japanese gold bullion finished the day down 0.1% to JPY 4,843 ($41.32) per gram.

The price of US platinum bar is back up, rising by 1.6% on Monday to close at $1,238 per ounce. Japanese platinum bar ended the day at JPY 4,658 ($39.75) per gram, after the 1.5% drop yesterday. Following a two-day drop, the price of Chinese platinum bar increased by 0.8% to CNY 266.00 ($42.56) per gram.

The price of US palladium bar fell 0.3% to $769.00 per ounce. The price of Japanese palladium bar fell 0.2% to JPY 2,944 ($25.12) per gram on Monday after two days of no change. Chinese palladium bar held its value on Monday at CNY 174.00 ($27.84) per gram.

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