platinum price

Gold prices rose above $1,300 an ounce on Thursday, shaking off earlier losses, after European Central Bank President Mario Draghi announced a bigger-than-expected bond-buying program.

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The most actively traded contract, for February delivery, was recently up $9.70, or 0.8%, at $1,303.40 an ounce on the Comex division of the New York Mercantile Exchange.

The ECB will buy €60 billion ($69 billion) of public and private sector debt a month, starting in March 2015 and continuing until September 2016. Although the introduction of a bond-purchasing program was widely expected, analysts and investors said the size was toward the upper end of expectations. Earlier, the ECB kept interest rates on hold at record lows, as expected.

The price of Japanese palladium bar closed as the biggest mover for Wednesday, January 21. Switching from a downward trend, the metal closed at JPY 2,946 ($24.83) per gram following a 2.3% increase. US palladium bar rose 2.2% to $774.00 per ounce. This marked the fifth day in a row of increasing prices and the improvement has accelerated since Thursday, January 15. Chinese palladium bar finished the day up 1.8% to CNY 174.00 ($28.00) per gram.

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US platinum bar saw its price rise 1.3% to $1,277 per ounce. At JPY 4,779 ($40.28), the price of Japanese platinum bar finished the market day up 1.0% per gram. Chinese platinum bar prices rose 0.7% to CNY 270.00 ($43.45) per gram.

US gold bullion prices inched up 1.6% to $1,294 per ounce. After a 1.5% increase, Chinese gold bullion finished the day at CNY 259.90 ($41.82) per gram. The price of Indian gold bullion increased 1.2% to INR 28,173 ($456.85) per 10 grams. Japanese gold bullion gained 1.0% to finish at JPY 4,846 ($40.84) per gram.

At INR 40,428 ($655.58), the price of Indian silver finished the market day up 1.9% per kilogram. US silver prices rose 1.7% to $17.98 per ounce. Chinese silver prices inched up 1.5% to CNY 3,765 ($605.85) per kilogram. The price of Japanese silver increased 1.1% to JPY 667.00 ($5.62) per 10 grams.

Silver miner Hochschild Mining Plc said 2014 production exceeded its expectations and that it had hedged 6 million ounces of silver for this year.

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Shares in the company fell as much as 3.6% as the hedging was made at $17.75 per ounce, below the spot silver prices of about $18.20 per ounce.

An increasing number of precious metals miners, battered by the fall in prices over the last two years, are selling planned output forward to better control their cash flow.

The miner said this hedge was in addition to a previous agreement to hedge 38,000 ounces of gold for 2015 at $1,300 per ounce.

The London-listed company, which has mines and exploration projects in Peru, Chile, Argentina and Mexico, said it produced 22.2 million silver equivalent ounces in 2014 compared with its target of 21 million silver equivalent ounces.

On Tuesday, January 20, Japanese silver jumped up 4.8%, landing at JPY 660.00 ($5.61) per 10 grams and making it the day’s biggest increase. Chinese silver finished the day up 0.7% to CNY 3,710 ($596.71) per kilogram. The price of Indian silver increased 0.5% to INR 39,690 ($643.75) per kilogram. After a couple of days of improving prices, the price of US silver held steady at $17.68.

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

At JPY 4,798 ($40.76), the price of Japanese gold bullion finished the market day up 2.0% per gram. The price of Indian gold bullion declined 0.4% to INR 27,849 ($451.70) per 10 grams, after two days of improvement. Chinese gold bullion prices inched up 0.1% to CNY 256.05 ($41.18) per gram. The price of US gold bullion flattened at $1,273 after two days of improvement.

Japanese platinum bar gained 0.9% to finish at JPY 4,731 ($40.19) per gram. Following a two-day rise, the price of Chinese platinum bar flattened at CNY 268.00 ($43.10). The price of US platinum bar steadied at $1,261 per ounce following two-days of increases.

Japanese palladium bar fell 3.4% to JPY 2,880 ($24.47) per gram. Today marked the fifth in a row of declining prices and the drop-off has accelerated since Wednesday, January 14. The price of Chinese palladium bar rose 0.6% to CNY 171.00 ($27.50) per gram after a two-day drop. The price of US palladium bar steadied at $757.00 per ounce following two-days of dropping prices.

After a rough start to the year, silver and gold bullion performed well with gains across the globe. So much so that the London Metal Exchange is, once again, thinking of starting gold and silver futures contracts.

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Gold and silver were up in all markets this week building on a strong previous week.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of US silver, which saw a 7.9% increase to $17.68 per ounce. Last week marked the fourth in a row of rising prices for the metal. The price of Chinese silver rose 5.4% this week, closing out the third week at CNY 3,685 ($593.59) per kilogram. The price of Indian silver rose 5.3% over the past week to INR 39,490 ($638.27) per kilogram. This was the third week in a row of increasing prices. Following a 1.8% increase in the week prior, the price of Japanese silver fell 0.2% last week to JPY 630.00 ($5.36) per 10 grams.

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

At CNY 255.78 ($41.20) per gram, the price of Chinese gold bullion finished the week 5.3% higher. Closing out the third week of rising prices, the price of US gold bullion increased by 5.3%, landing at $1,273 per ounce. The price of Indian gold bullion rose 2.9% over the past week to INR 27,950 ($451.75) per 10 grams. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the price of Japanese gold bullion increased by 1.2%, landing at JPY 4,706 ($40.03) per gram.

At $1,261 per ounce, the price of US platinum bar finished the week 3.7% higher. The price of Chinese platinum bar rose 3.1% this week, closing out the third week at CNY 268.00 ($43.17) per gram. The price of Japanese platinum bar rose 0.2% to JPY 4,688 ($39.88) per gram after falling 0.3% during the previous week.

The price of US palladium bar dropped 4.2% this week, closing out the third consecutive week of falling prices at $757.00 per ounce. Closing out the third week of declining prices, the price of Chinese palladium bar dropped by 4.0%, finishing at CNY 170.00 ($27.38) per gram. Japanese palladium bar finished the week at JPY 2,980 ($25.35) per gram after falling 3.5%.

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.

Stock futures pointed to a higher start for Canada’s main stock index on Tuesday as prices of commodities, including gold and oil, stabilized after China’s economic growth in the fourth quarter came slightly better than the markets had expected.

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March futures on the S&P TSX index were up 0.69% at 7.15 a.m. ET.

On Monday, January 19, US silver jumped up 4.2%, landing at $17.68 per ounce and making it the day’s biggest increase. The price of Chinese silver jumped 3.2% to CNY 3,685 ($593.59) per kilogram. Indian silver prices inched up 2.3% to INR 39,490 ($638.27) per kilogram. Japanese silver finished the day up 0.2% to JPY 630.00 ($5.36) per 10 grams.

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

Chinese gold bullion gained 1.8% to finish at CNY 255.78 ($41.20) per gram. Indian gold bullion saw its price rise 1.3% to INR 27,950 ($451.75) per 10 grams. After a 1.2% increase, Japanese gold bullion finished the day at JPY 4,706 ($40.03) per gram. The price of US gold bullion increased 0.8% to $1,273 per ounce.

At CNY 268.00 ($43.17), the price of Chinese platinum bar finished the market day up 1.1% per gram. Japanese platinum bar prices rose 0.7% to JPY 4,688 ($39.88) per gram. US platinum bar prices inched up 0.2% to $1,261 per ounce.

At JPY 2,980 ($25.35) per gram, Japanese palladium bar fell 2.9% last Friday. Chinese palladium bar prices saw a 1.7% decline to CNY 170.00 ($27.38) per gram. The price of US palladium bar fell 0.9% to $757.00 per ounce.

Every year in January, ValueWalk.com updates and publishes its Periodic Table of Commodities Returns.

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According to their table, palladium is 2014’s top commodity, performed relatively according to script. For the year it was up 11.35%, compared to its 10-year annualized returns of 14%.

Chinese palladium bar saw the biggest price decline of the day, dropping 3.4% to close at CNY 173.00 ($27.97) per gram on Friday, January 16. At $764.00 per ounce, US palladium bar fell 1.3% last Friday. The price of Japanese palladium bar fell 0.8% to JPY 3,070 ($26.43) per gram.

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

US platinum bar gained 2.7% to finish at $1,258 per ounce. The price of Japanese platinum bar declined 1.5% to JPY 4,654 ($40.07) per gram. Chinese platinum bar prices inched up 0.8% to CNY 265.00 ($42.85) per gram.

After a 2.7% increase, US gold bullion finished the day at $1,263 per ounce. The price of Chinese gold bullion gained 2.5%, finishing at CNY 251.30 ($40.64) per gram. At INR 27,580 ($444.85), the price of Indian gold bullion finished the market day up 2.1% per 10 grams. Japanese gold bullion finished the day down 1.3% to JPY 4,649 ($40.03) per gram.

Indian silver prices rose 1.9% to INR 38,604 ($622.66) per kilogram. Japanese silver closed 0.9% lower at JPY 629.00 ($5.42) per 10 grams. The price of US silver increased 0.7% to $16.95 per ounce. Chinese silver ended the day at CNY 3,570 ($577.27) per kilogram, after the 0.1% drop last Friday.

Barclays said recently it expects gold prices to test new lows in 2015 as the yellow metal battles with a strengthening dollar and the first interest rate hike in 9 years by the Federal Reserve.

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The bank forecasts prices to average $1,170 per ounce, down from its earlier view of $1,180. It forecast the 2016 gold price to be at $1,150 an ounce.

The price of US palladium bar fell 4.9% on Thursday, January 15 to $774.00 per ounce, making it the day’s biggest mover. The price of Japanese palladium bar remained essentially flat at JPY 3,095 ($26.27) per gram. After a couple of days of improving prices, the price of Chinese palladium bar held steady at CNY 179.00 ($28.90).

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

Weakening prices followed two days of improvement as the price of US platinum bar dropped 0.8% to $1,225 per ounce. Following a two-day rise, the price of Chinese platinum bar flattened at CNY 263.00 ($42.46). The price of Japanese platinum bar flattened at JPY 4,726 ($40.12) after two days of improvement.

The price of US gold bullion changed direction with a 0.1% drop. After two days of improving prices, the metal finished at $1,229 per ounce. At CNY 245.25 ($39.59) per gram, the price of Chinese gold bullion was essentially unchanged. The price of Indian gold bullion flattened at INR 27,020 ($436.02) per 10 grams after two days of downward movement. Japanese gold bullion saw little change in its price on Thursday at JPY 4,709 ($39.97) per gram.

Following two days of rising prices, the price of US silver dropped 1.5% to $16.84 per ounce. The price of Chinese silver ended a two-day climb, settling at CNY 3,575 ($577.16) per kilogram. The price of Indian silver steadied at INR 37,900 ($611.58) per kilogram following two-days of increases. The price of Japanese silver showed little movement on Thursday at JPY 635.00 ($5.39) per 10 grams.

In another sign that steel alloys are still the dominant auto-body material, despite recent in-roads by aluminum, Worthington Industries Inc. is acquiring automotive steel manufacture Rome Strip Steel for $55.5 million.

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Worthington, the $3.1 billion Columbus, Ohio, manufacturer said Wednesday it expects to complete the purchase this month.

Rome Strip Steel, with 130 employees, is based in upstate New York and has a warehouse in Walhalla, SC. It makes cold-rolled strip steel for the automotive industry, and recorded 2013 sales of $70 million.

The week’s biggest mover on the weekly Automotive MMI® was Korean 5052 coil premium over 1050 sheet, which saw a 15.4% increase to KRW 4,490 ($4.15) per kilogram. The copper 3-month price dropped 4.7% on the LME this week, closing out the third consecutive week of falling prices at $5,835 per metric ton. The cash price of primary copper fell 4.5% on the LME over the past week to $5,914 per metric ton. This was the third week in a row of declining prices. The price of Chinese lead fell 2.0% last week, settling at CNY 12,400 ($2,002) per metric ton.

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

The price of US HDG dropped 4.4% this week, closing out the third consecutive week of falling prices at $725.00 per short ton.

For the third week in a row, the price of US palladium bar dropped, falling 3.4% to $774.00 per ounce. The price of US platinum bar rose 0.5% this week, closing out the third week at $1,225 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.

The London Metal Exchange is mulling the launch of monthly gold and silver futures contracts, industry sources told FastMarkets.

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The dollar-denominated gold contracts will be physically settled – probably against the London Bullion Metal Association good delivery list, which sets and regulates the acceptable requirements for large gold and silver bars.

The LBMA publishes a list of “acceptable refiners” whose large bars weigh around 400 ounces (12.5kg).

The exchange is also said to be mulling a mini contract alongside the primary gold facility as well as a silver contract – also alongside a mini contract – with a view to introducing similar products for platinium and palladium in the futur

US silver saw the biggest upwards shift for the day, rising 3.5% to close at $17.09 per ounce on Wednesday, January 14. Japanese silver gained 1.4% to finish at JPY 635.00 ($5.39) per 10 grams. Chinese silver prices rose 1.4% to CNY 3,575 ($577.16) per kilogram. At INR 37,900 ($611.58), the price of Indian silver finished the market day up 0.5% per kilogram.

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

Japanese gold bullion finished the day up 1.3% to JPY 4,709 ($39.97) per gram. After a 0.6% increase, US gold bullion finished the day at $1,231 per ounce. Indian gold bullion closed 0.3% lower at INR 27,020 ($436.02) per 10 grams. The price of Chinese gold bullion remained steady at CNY 245.25 ($39.59) per gram.

Japanese platinum bar prices inched up 0.7% to JPY 4,726 ($40.12) per gram. The price of Chinese platinum bar increased 0.4% to CNY 263.00 ($42.46) per gram. US platinum bar saw its price rise 0.3% to $1,235 per ounce.

US palladium bar prices rose 0.9% to $814.00 per ounce. Following a 0.7% rise yesterday, the price of Japanese palladium bar closed at JPY 3,095 ($26.27) per gram. Chinese palladium bar saw its price rise 0.6% to CNY 179.00 ($28.90) per gram.

This week, gold and silver futures rose to 3-week high after Europe’s economic concerns mounted, spurring demand for the precious metals as a haven. Greece continues to threaten to leave the Euro, increasing both investment metals’ value as hedges there.

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Meanwhile, Barclay Plc released a report predicting that if the Federal Reserve raises interest rates it will initially hurt silver and gold prices, but be a long-term positive development for the precious metals.

The week’s biggest mover on the weekly Global Precious Metals MMI® was the price of Japanese silver, which saw a 3.8% increase to JPY 626.00 ($5.30) per 10 grams. This comes on the heels of a 2.3% decline the week prior. The price of US silver rose 2.9% over the past week to $16.52 per ounce. This was the third week in a row of increasing prices. Chinese silver gained a slight 2.5% this past week, finishing at CNY 3,525 ($567.77) per kilogram. The price of Indian silver rose 1.2% to INR 37,726 ($607.30) per kilogram after falling 1.8% during the previous week.

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

The price of Chinese gold bullion increased by a slight 2.3% over the past week to CNY 245.30 ($39.51) per gram. US gold bullion rose 2.1% over the past week to $1,223 per ounce. At JPY 4,648 ($39.32) per gram, the price of Japanese gold bullion finished the week 1.3% higher. The price of Indian gold bullion rose 0.3% to INR 27,113 ($436.46) per 10 grams after falling 0.8% during the previous week.

Following a 2.0% increase, US platinum bar finished the week at $1,231 per ounce. The price of Chinese platinum bar rose 1.6% to CNY 262.00 ($42.20) per gram after falling 0.4% during the previous week. Closing out the third week of rising prices, the price of Japanese platinum bar increased by 0.6%, landing at JPY 4,695 ($39.72) per gram.

Japanese palladium bar saw a 2.5% decline over the past week to JPY 3,073 ($25.99) per gram. The price of US palladium bar rose 1.4% to $807.00 per ounce after falling 2.0% during the previous week. Closing at CNY 178.00 ($28.67) per gram, Chinese palladium bar remained unchanged for the 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 will extend losses this year as US interest rates increase, providing an opportunity for investors to buy the metal to benefit from a rebound spurred by Asian demand, according to Barclays Plc.

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“We expect gold prices to test new lows in 2015,” analysts Suki Cooper and Kevin Norrish wrote in a report dated yesterday, predicting that prices will drop to less than $1,130 an ounce. “The lows of this year and next are likely to offer attractive entry-level prices for the longer-term investor.”

Bullion last year posted the first back-to-back annual drop since 2000 as US equities surged to records amid an improving economy, the dollar rose and assets in bullion-backed exchange-traded products extended losses. While the physical market looks more supportive this year, that won’t be enough to overturn the economic headwinds pressuring prices, the analysts wrote.

With a 2.2% increase on Monday, January 12, US palladium bar was the biggest mover on the Global Precious Metals MMI®. At CNY 178.00 ($28.67), the price of Chinese palladium bar finished the market day up 0.6% per gram. Japanese palladium bar closed 0.5% lower at JPY 3,073 ($25.99) per gram.

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

US platinum bar saw its price rise 1.2% to $1,231 per ounce. The price of Chinese platinum bar increased 0.8% to CNY 262.00 ($42.20) per gram. After a 0.3% increase, Japanese platinum bar finished the day at JPY 4,695 ($39.72) per gram.

The price of US gold bullion is back up, rising by 1.2% on Monday to close at $1,223 per ounce. Chinese gold bullion saw its price rise 1.0% to CNY 245.30 ($39.51) per gram. Indian gold bullion ended the day at INR 27,113 ($436.46) per 10 grams, after the 0.2% drop yesterday. After a couple of days of improving prices, the price of Japanese gold bullion held steady at JPY 4,648 ($39.32).

Following a 0.9% rise yesterday, the price of US silver closed at $16.52 per ounce. Chinese silver finished the day up 0.9% to CNY 3,525 ($567.77) per kilogram. Following two days of rising prices, the price of Japanese silver dropped 0.8% to JPY 626.00 ($5.30) per 10 grams. Following a two-day drop, the price of Indian silver increased by 0.6% to INR 37,726 ($607.30) per kilogram.

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