Precious Metals Management: FAQs: How are the average monthly prices calculated?

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How are the average monthly prices calculated?

Johnson Matthey lists two types of average at the bottom of each month's table of pgm prices.

"Month Average" is the average of the prices in each column and therefore provides an average for each of the five regular prices set in various time zones.

"Month Average for all time zones" is calculated as follows:

  1. The sum of the daily prices is divided by the number of prices set during that day to give a daily average.

    Please note that in times of high volatility more than five prices may be set during a one day period and this average will include interim prices as well as those listed.

  2. The daily averages are added together and divided by the number of days on which prices were set during the month.