Friday, November 3 2017 20:07

ArmInfo. This week precious metals in Armenia fell by 1%, against growth by 0.8% a week earlier. The dynamics is caused by the change in the trend of gold, silver and palladium from ascending to descending, parallel with what the price of platinum continued to go down.

The following selling prices for precious metals were established from October 30 to November 5, 2017:  gold gram (measured ingots) - 1,752.55 AMD (after a tiny growth a week earlier the recession was followed by 1%), silver - 262.34 (change of weekly dynamics from 0.2% growth to 1% decline), platinum - 14240.55 (acceleration of the rate of decline to 0.9%), and palladium - 14997.66 AMD (change of weekly dynamics from 2.8% growth to 1.1% decline).

According to international exchanges, November 3, 2017 at 17:53

Moscow time, the spot price of a troy ounce of gold was $ 1270.2 (daily growth of 0.05%), silver - $ 16. 92 (daily growth of 0.12%), platinum - $ 921 (daily growth of 0.11%) and palladium - $ 995 (without diurnal changes).

The precious metal markets are declining today under the influence of the strengthening US dollar exchange rate and the growing stock market. Donald Trump has appointed J. Powell as the new head of the US Federal Reserve, who is considered to be a supporter of a milder monetary policy than Janet Yellen.

The Bank of England raised interest rates for the first time in the past 10 years, which will have a slightly negative impact on the precious metal markets in the region.

Gold prices again rose to $ 1283 per troy ounce, after which they dropped to $ 1276. The nearest levels of support in gold are $ 1275-1245, resistance levels $ 1283-1293.

Silver prices rose to $ 17,212 per ounce in correlation with the gold market, after which they dropped to $ 17,119. The ratio of gold to silver is 74.56 points. The ratio of platinum to silver is 54.01 points. The nearest support levels in silver are $ 17.05- $ 16.60, resistance levels are $ 17.20-17.48.

Prices for platinum once again rose to $ 936 per ounce in correlation with the gold market, after which they fell to $ 925. The spread between gold and platinum is $ 350/ounce. The spread between platinum and palladium expanded to a new high of $ 71.2/ounce. The nearest support levels in platinum are $ 924-907, resistance levels are $ 939-949.

Prices for palladium cannot yet consolidate above $ 1000 per ounce, showing a decline to the level of $ 991. The nearest support levels in palladium are $ 987-968, resistance levels are $ 1002-1010.

Stocks in gold ETFs have slightly decreased, stocks in platinum ETF funds have grown, stocks in silver and palladium funds have not changed.