The week’s biggest mover on the Global Precious Metals MMI® was the price of Japanese silver, which saw a 5.6 percent increase to JPY 734.00 ($9.25) per 10 grams. This comes on the heels of a 2.8 percent decline the week prior.
The price of Chinese silver rose 3.8 percent to CNY 6,060 ($950) per kilogram after falling 0.9 percent during the previous week. The price of Indian silver rose 3.3 percent to INR 54,520 ($982) per kilogram after falling 1.4 percent during the previous week. The price of US silver fell 0.5 percent to $28.40 per ounce after rising 0.9 percent the week before.
Gold, platinum and palladium prices followed suit as well.
The price of Japanese gold bullion rose 4.1 percent to JPY 4,093 ($51) per gram after falling 1.4 percent during the previous week. Closing out the third week of rising prices, the price of Chinese gold bullion increased by 2.4 percent, landing at CNY 327.60 ($51.39) per gram. The price of Indian gold bullion rose two percent this week, closing out the third week at INR 29,582 ($533) per 10 grams. Prices for US gold bullion remained constant, closing the week at $1,543 per ounce.
The price of Japanese platinum bar rose 5.6 percent to JPY 3,725 ($46) per gram after falling 3.2 percent during the previous week. The price of Chinese platinum bar rose 3.4 percent to CNY 317.00 ($49.72) per gram after falling 1.1 percent during the previous week. The price of US platinum bar increased by a slight 0.5 percent over the past week to $1,440 per ounce.
The price of Japanese palladium bar rose 4.9 percent over the past week to JPY 1,613 ($20) per gram. This was the third week in a row of increasing prices. At CNY 151.00 ($23.69) per gram, the price of Chinese palladium bar finished the week 3.4 percent higher. US palladium bar prices ticked up 1.5 percent over the past week to $617.00 per ounce.
Disclosure: The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends.
