Friday, September 1 2017 15:01

ArmInfo. Metals in Armenia  rose by 1.3%, while a week earlier, the prices grew by 0.9%.  Acceleration of the growth rates of prices for precious metals was  provoked by platinum, which replaced the descending vector to the  upward trend, and palladium, which accelerated growth rates, against  which gold and silver showed a slowdown in the rate of ascent.

The  following selling prices for precious metals were established from  August 28 to September 3, 2017:  gold gram (measured ingots) -  19818.54 AMD (a slowing of the weekly growth from 0.8 % to 0.5%),  silver - 261.98 (slowing the weekly growth from 1.3% to 0.8%),  platinum - 15048.29 (change of weekly dynamics from 0.5% decline to  0,9% growth), and palladium - 14392.15 AMD (acceleration of weekly  growth from 1.9% to 3.1%).

According to international exchanges, September 1, 2017 at 13:27  Moscow time, the spot price of the troy ounce of gold was $ 1318.4  (daily decline of 0.02%), silver - $ 17.156 (daily decline of 0.06%),  platinum - $ 999 (without diurnal changes) and palladium - $ 936  (without diurnal changes).

Today, the precious metal markets are growing slightly, continuing  yesterday's impulse for growth, which was influenced by the speech of  Stephen Mnuchin. The US Treasury Secretary said that the US  presidential administration has a detailed tax reform plan that will  be put in place before the end of this year. Under this plan,  corporate tax is expected to decrease from 35% to 15%. In addition,  the rate of annual inflation in the US in July fell to the lowest  levels over the past 1.5 years, which weakened expectations of an  increase in the interest rate of the US Federal Reserve. The latest  data on futures show a shift in expectations for March and June 2018.  The US dollar rate as a whole is stable, but tends to weaken.

Gold prices recovered yesterday to the level of $ 1329 for one troy  ounce, after which they were corrected down to the level of $ 1323.  The nearest levels of support in gold are $ 1314-1292, resistance  levels - $ 1329-1357.

Silver prices rose to $ 17.69 per ounce in correlation with the gold  market, after which they dropped to $ 17.59. The ratio of gold to  silver is 75.06 points. The ratio of platinum to silver is 56.83  points. The nearest support levels in silver are $ 17.40-16.90,  resistance levels are $ 17.70-18.02.

Prices for platinum in correlation with the gold market grew to $  1003 per ounce, after which they dropped to the level of $ 998.  Platinum is receiving additional impetus from the possible growth of  industrial consumption in connection with the growth of the American  economy. The spread between gold and platinum is $ 327/ounce. The  spread between platinum and palladium is $ 61.5/ounce. The nearest  support levels in platinum are $ 984-979, resistance levels are $  1003-1010.

Prices for palladium today are falling to $ 930 per ounce due to a  drop in investment demand in metal.  Positive dynamics in the stock  markets supports the cost of palladium. The nearest support levels in  palladium are $ 926-896, resistance levels are $ 935-950.

The reserves of precious metals declined in all ETF-funds of precious  metals.