Wednesday, June 21 2017 21:12
Alina Hovhannisyan

Armenian State Depository sharply lowered prices for precious metals after 4-week rally top

Armenian State Depository sharply lowered prices for precious metals after 4-week rally top

ArmInfo. SD sharply lowered prices for precious metals in Armenia, after a 4-week rally up. So, this week precious metals have fallen in price by 1% against growth by 4% a week earlier. And, gold, silver and platinum have fallen in price, against which background the upward trend and palladium has sharply reduced.

According to the "State Depository precious metals and stones" agency of the RA Ministry of Finance, the following selling prices for precious metals were established from June 19 to June 25, 2017: gram of gold (measured bars) - 19559.86 AMD (change of weekly dynamics from 2% growth by 1.7% decline), silver - 262.56 AMD (change of weekly dynamics from 2.4% growth to 3.3% decline), platinum - 14448.28 AMD (change of weekly dynamics from 0.3% growth on 1.8% decline) and palladium - 13653.36 AMD (slowing the weekly growth from 11.3% to 3%).

According to international exchanges, June 21, 2017. At 7:33 Moscow time. The spot price of a troy ounce of gold was $ 1245.2 (daily growth of 0.02%), silver - $ 16.48 (without diurnal changes), platinum - $ 925 (daily decline of 0.11%), and palladium - $ 885 (without diurnal changes). Today, the precious metal markets are growing under the influence of the weakening of the USD. The US stock market is adjusted downward, which contributes to a slight decrease in the price of palladium. Representatives of the US Federal Reserve confirm the intention of further tightening of interest rates. Political instability around the world supports the demand for gold. Gold prices fell to $ 1,242 per troy ounce, after which they grew to $ 1248. The summer season provokes low activity in the market. The nearest levels of support in gold are $ 1242- $ 1220, resistance levels - $ 1250- $ 1265. Prices for silver declined to $ 16.36 per troy ounce in correlation with the gold market, after which they recovered to $ 16.45. The ratio of gold to silver is 75.32 points. The ratio of platinum to silver is 55.91 points. The nearest support levels in silver are $ 16.36- $ 16.12, resistance levels are $ 16.50- $ 16.80. Prices for platinum in correlation with the gold market declined to $ 917 per ounce, after which they grew to the level of $ 923. The spread between gold and platinum is $ 324/oz. The spread between platinum and palladium is $ 50.5/ounce. The nearest support levels in platinum are $ 917- $ 900, resistance levels are $ 930- $ 955. Prices for palladium fell again to $ 850 per ounce, after which they rose to $ 868. The nearest support levels in palladium are $ 852- $ 823, resistance levels are $ 870- $ 890.

Stocks in silver ETF-funds fell, stocks in other ETF-funds of precious metals have not changed.

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