ArmInfo. The decline in prices for precious metals in Armenia continues for the fourth consecutive week. So, this week, precious metals fell by 2.2% after a decline of 0.7% a week earlier. Moreover, now in a downward trend were all precious metals, while last week silver against the background of a decrease in the price of other precious metals was more expensive.
As reported to ArmInfo agency in the Agency of "State treasury of precious metals and stones" of the RA Ministry of Finance, from July 10 to July 16, 2017 the following selling prices for precious metals were established: gram of gold (measured bars) - 18869.51 AMD (acceleration of the weekly decline from 0.2% up to 2%), silver - 247.92 AMD (change of weekly dynamics from 0.4% growth to 3.6% decline), platinum - 14007.08 AMD (acceleration of the weekly decline from 0.6% to 1,3%) and palladium - 12,990.47 AMD (slowing down the weekly decline from 2.4% to 1.8%).
According to international exchanges, July 12, 2017 at 17:37 Moscow time. The spot price of the troy ounce of gold was $ 1221.1 (daily growth by 0.05%), silver - $ 16.06 (daily growth of 0.06%), platinum - $ 920 (without daily changes) and palladium - $ 870 (daily decline of 0.11%). The publication of a correspondence by a younger Trump, which testifies to his readiness to receive information from the Russian source compromising Hillary Clinton, revived the political scandal in the United States. This, of course, played into the hands of gold bulls. Thus, at the reduction of its quotations to support in the area of $ 1,208 per ounce, there was a demand, thanks to which they were able to return to the resistance around $ 1220. According to the analysts, at the current levels, bears can be activated, which can again test support at around $ 1205 per ounce. Break through the current resistance will lead to an increase in the direction of $ 1240. The political scandal in the US provoked another wave of sales of the USD, against which silver could recover to resistance at around $ 15.96 an ounce. In the face of tightening the Fed monetary policy is unlikely to expect sustained growth. The breakthrough of the 16th figure will allow the bulls to test $ 16.20- $ 16.40 per ounce; below $ 16.00 the risks of decline will remain high.