In Armenia, precious metals in the first 10 days of 2018 demonstrated a sharp rise in prices

ArmInfo. Since January 1 2018, prices for precious metals have increased by 6% against 1.5% growth in the closing week of 2017. A sharp jump in prices caused an accelerated rise in price of gold, silver and palladium, with a more moderate rise in prices for platinum.

As State Treasury of Metals and Stones of the Ministry of Finance of Armenia tolled ArmInfo, from January 8 to 14, 2018 the following selling prices for precious metals were established: gram of gold (measured bars) - 20462,92 drams (acceleration of growth rates from 0,9% up to 4.8%), silver - 266.26 drams (acceleration of growth from 1.4% to 6.8%), platinum - 14803.78 drams (acceleration of growth rates from 3.2% to 5.1%), and palladium - 16958.02 drams (accelerating the pace of the remainder from 0.9% to 7.1%).

According to international exchanges, January 10, 2017 at 17: 47msk, the spot price of the troy ounce of gold was $ 1319.5 (daily growth by 0, 01%), silver - $ 17.12 (without diurnal changes), platinum - $ 977 (without daily changes) and palladium - $ 1091 (daily growth of 0.09%).

Today, gold and silver markets show a slight increase under the influence of the weakening US dollar and the declining stock market, while the platinum and palladium markets are being adjusted downward. Rising oil prices and rising inflation expectations are supporting the precious metal markets.

Gold prices dropped to $ 1315 after rising to $ 1325 per ounce. Rhetoric of representatives of the US Federal Reserve had a negative impact on price dynamics. The nearest levels of support in gold are $ 1307- 1291, resistance levels - $ 1319-1325.

Prices for silver in correlation with the gold market fell to $ 17.05 per ounce. The ratio of gold to silver is 77.35 points. The ratio of platinum to silver is 56.56 points. The nearest support levels in silver are $ 16.94- 16.73, resistance levels are $ 17.16-17.30.

Prices for platinum in correlation with the gold market recovered to $ 975 per ounce, after which they dropped to $ 966. The spread between gold and platinum is $ 347/ounce. The spread between platinum and palladium is - $ 134.5/ounce. The nearest support levels in platinum are $ 952-937, resistance levels are $ 975-986.  Prices for palladium set a new high at $ 1107 per ounce, after which they dropped to the level of $ 1,093.  The nearest support levels in palladium are $ 1089-1051, resistance levels are $ 1095-1107.