platinum price

Gold prices slipped on Monday as buyers cashed in gains after the metal posted its biggest monthly rise in 3 years in January, but a shaky outlook for the global economy underpinned its appeal as a haven from risk.

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The initial rally rally was sparked by concerns over the European economy after the Swiss National Bank scrapped the franc’s peg to the euro, the European Central Bank announced quantitative easing and Greece elected the anti-bailout Syriza party.

With a decline of 6.4% to INR 37,380 ($604.89) per kilogram on Friday, January 30, Indian silver recorded the biggest price drift of the day. A $1.05 price decline in the US silver left the price at $16.91 per ounce. Chinese silver fell 4.5% to CNY 3,575 ($572.39) per kilogram. Japanese silver finished the day down 0.3% to JPY 667.00 ($5.64) per 10 grams.

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At INR 27,452 ($444.24) per 10 grams, Indian gold bullion fell 2.1% last Friday. US gold bullion ended the day at $1,258 per ounce, after the 2% drop last Friday. The price of Chinese gold bullion declined 1.7% to CNY 253.70 ($40.62) per gram. The price of Japanese gold bullion fell 0.9% to JPY 4,848 ($40.99) per gram.

The price of US platinum bar declined 2.5% to $1,218 per ounce. Chinese platinum bar ended the day at CNY 264.00 ($42.27) per gram, after the 1.5% drop last Friday. Japanese platinum bar closed 0.7% lower at JPY 4,731 ($40.00) per gram.

The price of US palladium bar closed at $771.00 per ounce. Following a couple days of improvement, the metal’s price weakened by 2.8%. Chinese palladium bar prices saw a 2.2% decline to CNY 174.00 ($27.86) per gram. Japanese palladium bar held its value last Friday at JPY 2,950 ($24.94) per gram.

Automotive production is up so much due to low oil prices that the price of palladium is rising.

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According to several analysts, aluminum may be replacing copper as the bellwether commodity that predicts economic trends in the larger economy because of its expanded industrial and automotive uses.

The week’s biggest mover on the weekly Automotive MMI® was the price of US palladium bar, which saw a 3.7% increase to $793.00 per ounce. This comes on the heels of a 1.2% decline the week prior. Following a 3.6% increase in the week prior, the price of US platinum bar fell 1.6% last week to $1,249 per ounce.

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The price of US HDG fell 1.0% over the past week to $717.00 per short ton. This was the fourth week in a row of declining prices.

The copper 3-month price fell 2.6% on the LME over the past week to $5,455 per metric ton. This was the fourth week in a row of declining prices. The primary copper cash price fell 2.6% on the LME over the past week to $5,485 per metric ton. This was the fourth week in a row of declining prices. The price of Chinese lead fell 0.4% to CNY 12,650 ($2,026) per metric ton after rising 2.4% the week before. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,490 ($4.17) 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.

Palladium is poised to outperform again in 2015, with prices seen rising 6% even as the wider precious metals complex struggles, a Reuters survey showed on Tuesday.

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Palladium’s sister metal platinum is facing a third year of losses, however.

Respondents to a poll of 32 analysts, traders and other market participants conducted earlier this month forecast that palladium prices would average $845 an ounce this year, up from $799 an ounce in 2014. Palladium is forecast to extend those gains to average $900 an ounce in 2016.

On Thursday, January 29, the day’s biggest mover was the price of Chinese palladium bar, which saw a 2.3% increase to CNY 178.00 ($28.50) per gram. This increase comes after two straight days of stagnant prices. US palladium bar saw its price rise 1.8% to $793.00 per ounce. Japanese palladium bar saw little change in its price on Thursday at JPY 2,950 ($25.08) per gram.

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

US platinum bar closed 0.9% lower at $1,249 per ounce. Chinese platinum bar ended the day at CNY 268.00 ($42.91) per gram, after the 0.7% drop on Thursday. Japanese platinum bar prices rose 0.4% to JPY 4,766 ($40.53) per gram.

Following a two-day drop, the price of Japanese gold bullion increased by 0.8% to JPY 4,894 ($41.62) per gram. US gold bullion finished the day down 0.7% to $1,283 per ounce. Chinese gold bullion prices saw a 0.6% decline to CNY 258.00 ($41.31) per gram. The price of Indian gold bullion increased 0.1% to INR 28,040 ($457.46) per 10 grams.

The price of Chinese silver declined 0.5% to CNY 3,745 ($599.69) per kilogram. The price of US silver fell 0.4% to $17.96 per ounce. At INR 39,916 ($651.21) per kilogram, Indian silver fell 0.4% yesterday. After dropping for two days, the price of Japanese silver flattened at JPY 669.00 ($5.69).

Spot gold prices were little changed on Wednesday after the Federal Reserve signaled that it would remain patient when it comes raising interest rates.

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In a statement after its latest policy meeting, the Fed made clear that no rate increase is imminent. Chair Janet Yellen said after last month’s meeting that by saying it would be “patient,” the Fed was signaling there would be no rate increase for at least two meetings.

The Fed’s statement Wednesday said the factors holding inflation below its 2% target rate have intensified since its last meeting in December. Inflation has stayed ultra-low partly because of a plunge in energy prices and a steadily strengthening dollar.

The Federal Open Market Committee is scheduled to release a statement at the end of its two-day policy meeting later on Wednesday and a dovish bias could support a non-interest bearing asset such as gold.

Decreasing 2.5% made Japanese silver the biggest mover of the day, finishing at JPY 669.00 ($5.68) per 10 grams on Wednesday, January 28. After a 0.7% increase, US silver finished the day at $18.03 per ounce. Chinese silver prices rose 0.4% to CNY 3,765 ($603.23) per kilogram. At INR 40,068 ($652.69), the price of Indian silver finished the market day up 0.2% per kilogram.

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

Following a two-day drop, the price of US gold bullion increased by 0.8% to $1,292 per ounce. The price of Chinese gold bullion increased 0.8% to CNY 259.60 ($41.59) per gram. The price of Japanese gold bullion fell 0.6% to JPY 4,856 ($41.23) per gram. The price of Indian gold bullion flattened at INR 28,002 ($456.14) following two-days of declines.

The price of US platinum bar rose 1.0% to $1,260 per ounce after a two-day drop. Chinese platinum bar prices inched up 0.7% to CNY 270.00 ($43.26) per gram. The price of Japanese platinum bar remained steady at JPY 4,749 ($40.32) per gram.

The price of Japanese palladium bar is back up, rising by 2.3% on Wednesday to close at JPY 2,950 ($25.05) per gram. US palladium bar finished the day up 0.3% to $779.00 per ounce. The price of Chinese palladium bar held steady at CNY 174.00 ($27.88) per gram.

Hedge funds are snapping up gold, pushing their net long positions to levels not seen for almost two years, CNBC reported.  Meanwhile, analysts are split over what 2015 will hold for the precious metal.

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Speculative investors bought gold for a fourth successive week at a “strong pace” upping long positions. Silver has also been bought for close to 12 weeks, but positioning remains “far from stretched,” according to data from Bank of America Merrill Lynch.

The bank said its indicators suggest investors remain bullish for precious metals, a view which is supported by a number of investment banks and economists, but targets for where the metal will end up by year end differ dramatically.

Gold prices jumped more than 1% last week, topping $1,300 per ounce for the first time since the third quarter last year, as the euro tumbled to an 11-year low after the European Central Bank’s new stimulus plans were revealed.

Commodity analysts at Citi said this “elevated” gold trading ties into its raised forecast for 2015 bullion prices to the mid- $1,200s level – up from its $1,220 estimate in the fourth quarter of 2014. But the bank said the metal may well struggle to “firmly break-out too far above” $1,300.

US silver had the largest decline on Tuesday, January 27, dropping 2.1% and landing at $17.91 per ounce. The price of Chinese silver closed at CNY 3,750 ($599.51) per kilogram. Following a couple days of improvement, prices fell by 1.8%. At INR 40,000 ($650.85) per kilogram, Indian silver fell 1.8% on Tuesday. Following two days of rising prices, the price of Japanese silver dropped 0.4% to JPY 686.00 ($5.79) per 10 grams.

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

Weakening prices followed two days of improvement as the price of Chinese gold bullion dropped 1.1% to CNY 257.50 ($41.17) per gram. US gold bullion prices saw a 1.0% decline to $1,281 per ounce. Japanese gold bullion ended the day at JPY 4,883 ($41.19) per gram, after the 0.7% drop yesterday. The price of Indian gold bullion declined 0.5% to INR 28,018 ($455.89) per 10 grams.

At JPY 4,750 ($40.07) per gram, Japanese platinum bar fell 1.6% on Tuesday. US platinum bar closed 1.3% lower at $1,247 per ounce. The price of Chinese platinum bar fell 1.1% to CNY 268.00 ($42.84) per gram.

Japanese palladium bar finished the day down 1.4% to JPY 2,884 ($24.33) per gram. US palladium bar saw its price rise 0.5% to $777.00 per ounce. The price of Chinese palladium bar showed little movement yesterday at CNY 174.00 ($27.82) per gram.

America’s renewed love affair with the automobile is tightening global supplies of palladium, a metal rarer than gold.

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While each car requires only a few grams of palladium, demand in 2015 will probably exceed supply for a fourth consecutive year, according to Johnson Matthey Plc, a maker of catalytic converters for automobiles that use the metal to reduce harmful tailpipe emissions. Global car sales rose 3.4% last year to a record 81.6 million vehicles, Macquarie Group Ltd. said in a report last week.

The lowest oil prices in 5 years and cheap bank loans are helping to extend a rebound in automobile sales that began in 2009, boosting demand for everything from catalytic converters to Alcoa Inc.’s aluminum sheets and Goodyear Tire & Rubber Co.’s wheels. Even after palladium prices soared to a 13-year high in September, Morgan Stanley and Deutsche Bank AG remain bullish because car parts account for 70% of the metal’s use.

At $773.00 per ounce, US palladium bar moved up 1.0% on Monday, January 26, the day’s biggest change. The price of Chinese palladium bar increased 0.6% to CNY 174.00 ($27.73) per gram. The price of Japanese palladium bar declined 0.3% to JPY 2,926 ($24.93) per gram.

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

The price of US platinum bar fell 0.4% to $1,264 per ounce. The price of Japanese platinum bar held steady at JPY 4,827 ($41.13) per gram. Chinese platinum bar held its value yesterday at CNY 271.00 ($43.19) per gram.

US gold bullion prices saw a 0.6% decline to $1,294 per ounce. At JPY 4,919 ($41.91), the price of Japanese gold bullion finished the market day up 0.4% per gram. Indian gold bullion finished the day down 0.4% to INR 28,165 ($458.41) per 10 grams. Chinese gold bullion prices rose 0.2% to CNY 260.30 ($41.49) per gram.

Japanese silver saw its price rise 1.0% to JPY 689.00 ($5.87) per 10 grams. Chinese silver finished the day up 0.5% to CNY 3,820 ($608.84) per kilogram. The price of US silver ended a two-day climb, settling at $18.30 per ounce. After a couple of days of improving prices, the price of Indian silver held steady at INR 40,729 ($662.90).

Gold prices marched higher Tuesday as losses in US equities and a pullback in the US dollar spurred investors’ appetite for the precious metal as a haven asset.

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Gold for February delivery, the most actively traded contract, was recently up $9.40, or 0.7%, at $1,289.80 an ounce on the Comex division of the New York Mercantile Exchange.

US equities opened sharply lower amid a flurry of disappointing earnings reports and surprisingly weaker durable goods orders. The Dow Jones Industrial Average was down nearly 400 points, or 1.7%, while the S&P 500 was down 1.4%.

Earlier this week, the European Central Bank announced a larger-than-expected bond buying program that also helped the precious metals regain their value as hedges against weaker currencies.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 9.4% increase to JPY 689.00 ($5.87) per 10 grams. This comes on the heels of a 0.2% decline the week prior. The price of Chinese silver rose 3.7% over the past week to CNY 3,820 ($608.84) per kilogram. This was the third week in a row of increasing prices. Closing out the fifth week of rising prices, the price of US silver gained 3.5%, finishing at $18.30 per ounce. At INR 40,729 ($662.90) per kilogram, the price of Indian silver finished the week 3.1% higher.

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

A 4.5% jump caught the week’s heaviest change for Japanese gold bullion. Closing out the third week of rising prices, the price of Chinese gold bullion increased by 1.8%, landing at CNY 260.30 ($41.49) per gram. The price of US gold bullion rose 1.6% this week, closing out the third week at $1,294 per ounce. The price of Indian gold bullion rose 0.8% over the past week to INR 28,165 ($458.41) per 10 grams. This was the third week in a row of increasing prices.

The price of Japanese platinum bar increased by a slight 3.0% over the past week to JPY 4,827 ($41.13) per gram. At CNY 271.00 ($43.19) per gram, the price of Chinese platinum bar finished the week 1.1% higher. The price of US platinum bar rose 0.2% this week, closing out the third week at $1,264 per ounce.

The price of Chinese palladium bar rose 2.4% to CNY 174.00 ($27.73) per gram after falling 4.0% during the previous week. The price of US palladium bar rose 2.1% to $773.00 per ounce after falling 4.2% during the previous week. The price of Japanese palladium bar fell 1.8% over the past week to JPY 2,926 ($24.93) per gram. This was the third week in a row of declining prices.

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.

Fresh concerns about the future of the eurozone resurfaced to unsettle markets Monday after Greece’s far-left Syriza party swept to power supported by voters opposed to the terms of the nation’s international bailout.

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Syriza party leader Alexis Tsipras agreed to form a coalition government with the Independent Greeks party, a right-wing group that is similarly opposed to the budget cuts and other austerity measures demanded by the European Commission, European Central Bank and International Monetary Fund in return for a massive $270 billion bailout.

The price of Japanese palladium bar fell 1.9% on Friday, January 23 to JPY 2,935 ($24.71) per gram, making it the day’s biggest mover. US palladium bar held its value last Friday at $765.00 per ounce. Chinese palladium bar saw little change in its price last Friday at CNY 173.00 ($27.87) per gram.

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

Chinese platinum bar prices inched up 0.4% to CNY 271.00 ($43.66) per gram. Following two days of rising prices, the price of Japanese platinum bar dropped 0.3% to JPY 4,824 ($40.62) per gram. The price of US platinum bar showed little movement last Friday at $1,269 per ounce.

The price of US gold bullion increased 0.7% to $1,302 per ounce. Indian gold bullion gained 0.7% to finish at INR 28,269 ($459.57) per 10 grams. Chinese gold bullion saw its price rise 0.5% to CNY 259.82 ($41.86) per gram. After improving for two days, the price of Japanese gold bullion declined 0.4% to JPY 4,899 ($41.25) per gram.

US silver prices rose 1.1% to $18.31 per ounce. After a 0.6% increase, Japanese silver finished the day at JPY 682.00 ($5.74) per 10 grams. At INR 40,715 ($661.90), the price of Indian silver finished the market day up 0.6% per kilogram. Chinese silver finished the day up 0.5% to CNY 3,800 ($612.24) per kilogram.

On Thursday, the European Central Bank offered the latest reason to pile into precious metals by unleashing a bigger-than-expected bond-buying program amid continued worries about Europe’s economy. Gold futures ended above $1,300 a troy ounce for the first time since August, while silver neared bull-market territory, defined as a 20% increase from a recent low.

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Gold and silver are drawing buyers of all stripes, a sign fears about a worsening economic outlook run deep in financial markets. The metals are popular havens for nervous investors but had fallen out of favor after setting price records in 2011 as the US recovery gained speed. Now these metals are luring back some money managers, as collapsing oil prices, fears of a recession in Europe and volatility in currency markets shake their faith in stocks and other investments, the Wall Street Journal reported.

Both metals remain far below their peaks, and many investors are skeptical that economic conditions are dire enough to sustain recent gains. But others make the case that gold and silver look more promising than stocks, which are at or near record highs in many markets, or government bonds, where yields are near zero across the developed world.

Japanese silver saw the biggest upwards shift for the day, rising 1.6% to close at JPY 678.00 ($5.75) per 10 grams on Thursday, January 22. US silver gained 0.8% to finish at $18.11 per ounce. Chinese silver finished the day up 0.4% to CNY 3,780 ($608.53) per kilogram. Indian silver saw its price rise 0.1% to INR 40,481 ($657.67) per kilogram.

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

After a 1.5% increase, Japanese gold bullion finished the day at JPY 4,919 ($41.74) per gram. The price of Chinese gold bullion declined 0.5% to CNY 258.55 ($41.62) per gram, after two days of improvement. Indian gold bullion prices saw a 0.3% decline to INR 28,075 ($456.12) per 10 grams. US gold bullion ended the day at $1,293 per ounce, after the 0.1% drop on Thursday.

Today marks the fifth day in a row of rising prices for Japanese platinum bar. After climbing 1.2%, prices settled at JPY 4,838 ($41.05) per gram, driving an accelerated improvement since Friday, January 16. The price of US platinum bar fell 0.6% to $1,269 per ounce. Chinese platinum bar stayed flat at around CNY 270.00 ($43.47) per gram.

Japanese palladium bar gained 1.6% to finish at JPY 2,992 ($25.39) per gram. The price of US palladium bar declined 1.2% to $765.00 per ounce. After improving for two days, the price of Chinese palladium bar declined 0.6% to CNY 173.00 ($27.85) per gram.

As the Washington, DC, Auto Show begins, materials suppliers, original equipment manufacturers and auto executives are descending on Washington not just to show off their wares, but lobby congress to help their industries.

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Hal Quinn, president and CEO of the National Mining Association wrote in the Hill today that due to an inefficient domestic mine permitting process, the US remains more than 50% import-dependent on 40 key mineral commodities — including copper and zinc, which make up electric parts, and platinum and palladium, key ingredients in catalytic converters — according to the US Geological Survey. As the process stands, it can take seven to 10 years for a new mine to be approved in the United States — compared to countries like Canada and Australia, where mines have comparable environmental regulations, but the permitting process takes just two to three years on average. If the United States is to remain economically competitive, this domestic minerals policy must change.

The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 4.8% decline on the LME to $5,630 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The 3-month price of copper fell 4.0% on the LME over the past week to $5,600 per metric ton. This was the third week in a row of declining prices. The price of Chinese lead rose 2.4% to CNY 12,700 ($2,045) per metric ton after falling 2.0% during the previous week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,490 ($4.16) per kilogram.

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

The price of US HDG fell 0.1% over the past week to $724.00 per short ton. This was the third week in a row of declining prices.

The price of US platinum bar rose 3.6% over the past week to $1,269 per ounce. This was the fourth week in a row of increasing prices. For the third week in a row, the price of US palladium bar dropped, falling 1.2% to $765.00 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.

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