Wednesday, July 19 2017 19:05
Alina Hovhannisyan

In Armenia, palladium has entered a growing trend, unlike other precious metals

In Armenia, palladium has entered a growing trend, unlike other precious metals

ArmInfo. Metals in Armenia  continue to lose value. However, this week, the slowdown slackened  somewhat as a result of a change in the trend of palladium from the  descending to the ascending trend. So, this week prices for precious  metals declined by 0.8%, after a decline of 2.2% a week earlier.

As the State Treasury of Metals of the Ministry of Finance of Armenia  told ArmInfo, the following selling prices for precious metals were  established from 17 to 23 July 2017: gold gram (measured bars) -  18,738.57 AMD (slowing down of the weekly decline from 2% to 0,7%),  silver - 240.88 AMD (slowing down the weekly decline from 3.6% to  2.8%), platinum - 13949.77 AMD (slowing down the weekly decline from  1.3% to 0.4%) and palladium - 13106,95 AMD (change of weekly dynamics  from 1.8% decline to 0.9% growth).

According to international exchanges, July 19, 2017 by 17: 23 Moscow  time, the spot price of troy ounce of gold was $ 1241 (daily decline  by 0.03%), silver - $ 16.32 (daily growth of 0.06%), platinum - $ 925  (without daily changes) and palladium - $ 873 (without daily  changes).

Today, the precious metal markets are slightly lower under the  influence of a small strengthening of the USD and the growing  American stock market. Gold prices rose to $ 1244 a troy ounce  yesterday, but could not go up, and then adjusted down to $ 1238.  Activity on the market is seasonally low. The nearest levels of  support in gold are $ 1236- $ 1225, resistance levels - $ 1244- $  1248.

Silver prices tested a level of $ 16.30 per ounce, after which they  dropped to $ 16.16. Growth is due to the active closure of short  positions. Additional pressure on silver prices has a weakness in  base metals. The ratio of gold to silver is 76.27 points. The ratio  of platinum to silver is 56.55 points. The nearest support levels in  silver are $ 16.05- $ 15.60, resistance levels are $ 16.30- 16.48.

Prices for platinum rose to $ 934 per ounce in correlation with the  gold market, after which they dropped to the level of $ 922. The  spread between gold and platinum is $ 320/ounce. The spread between  platinum and palladium is $ 58.5/ounce. The nearest support levels  in platinum are $ 920- $ 907, resistance levels are $ 925- $ 935.

Prices for palladium rose to $ 867 per ounce, after which they  dropped to $ 859. The nearest support levels in palladium are $ 850-  $ 830, resistance levels are $ 867- $ 880.

Stocks in silver and platinum ETF funds again showed growth, stocks  in gold funds fell slightly, stocks in palladium funds did not  change.

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