Wednesday, April 5 2017 19:52
Alina Hovhannisyan

Metal prices in Armenia slackened weekly growth from 2.7% to 0.9%

ArmInfo. This week prices for metals slackened to 0.9% from 2.7% a week earlier. Moreover, in the reporting period, all precious metals held in an uptrend, with the exception of platinum, which replaced the vector from growth to decline.

As the State Revenue Committee of the Ministry of Finance of Armenia told ArmInfo, from April 3 to 9, 2017 the following selling prices for metals were established: gold gram (measured ingots) - 19454.03 AMD (slackening of weekly growth from 2.5% to 0,7%), silver- 280,4 AMD (acceleration of the weekly growth from 1,7% to 3,3%), platinum - 14899,93 AMD (change of weekly dynamics from 2,1% growth to 0,7% decline) and palladium - 12347.31 AMD (slackening of weekly growth from 4.6% to 0.3%).

According to international exchanges data on April 5, 2017, 19: 27, the spot price of troy ounce of gold was $ 1248.8 (daily decline by 0.03%), silver - $ 18.29 (daily decline by 0.05%), platinum - $ 963 (without diurnal changes), and palladium - $ 817 (without diurnal changes). Gold and silver markets are slackening today under the influence of strengthening of the USD, platinum and palladium are growing. Political tensions support prices, but the expectation of a possible increase in the interest rate of the US Federal Reserve in the beginning of the quarter is holding back price growth. Gold prices yesterday reached $ 1263 per troy ounce, after which they dropped to the level of $ 1254. The nearest levels of support in gold are $1250- $1242, resistance levels - $1263- $1280.

Prices for silver in correlation with the gold market tested the level of $ 18.43 per troy ounce, after which they decreased to $ 18.26. The ratio of gold to silver is 68.57 points. The ratio of platinum to silver is 52.83 points. The nearest support levels in silver are $ 18.22- $ 18.06, resistance levels are $ 18.43- $ 18.74.

Prices for platinum rose to $ 972 per ounce, after which they dropped to $ 966. Currently, platinum remains the weakest of the precious metals markets due to negative fundamental factors showing a decrease in demand. The spread between gold and platinum is $ 293/ounce. The nearest support levels in platinum are $ 964- $ 942, resistance levels are $ 972- $ 984.

Prices for palladium reached the level of $ 810 per ounce, after what dropped to the level of $ 802, but again rose to $ 807. The market is supported by strong fundamental factors and by limits.

Stocks in silver and platinum ETF funds declined, stocks in other funds did not change.

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