Wednesday, August 16 2017 19:40
Alina Hovhannisyan

Cheapening of silver and palladium slowed the upward trend of precious metals in Armenia

Cheapening of silver and palladium slowed the upward trend of precious metals in Armenia

ArmInfo. Prices for precious metals in Armenia have slowed the ascending weekly trend from 1.9% to 0.8%. Such dynamics this week was triggered by a decrease in the price of silver and palladium against the background of a slowdown in the growth of gold prices and acceleration of the upward trend of platinum.

The following selling prices for precious metals were established from August 14 to 20, 2017: gold gram (measured bars) - 19561,90 drams (a slowing of the weekly growth from 0.9% up to 0.3%), silver - 256.49 drams (change of weekly dynamics from 1.2% growth to 0.1% decline), platinum - 14996.82 drams (acceleration of weekly growth from 2.2% up to 2.8%), and palladium - 13709.60 drams (change of weekly dynamics from 3.3% growth to 0.1% decline).

According to international exchanges, August 16, 2017 at 16:28 Moscow time, the spot price of troy ounce of gold was $ 1270 (daily decline by 0.02%), silver - $ 16.79 (without diurnal changes), platinum - $ 969 (without daily changes) and palladium - $ 896 (daily decline of 0.11%). Today, gold and silver markets are falling under the influence of the strengthening USD, while platinum and palladium are growing. The moods on the market remain mixed, the activity is low due to seasonal factors and the lack of ideas for trade.

Gold prices fell to $ 1,273 per troy ounce under the influence of reminders from representatives of the US Federal Reserve about the interest rate increase, after which they grew to the level of $ 1276. The nearest levels of support in gold are $ 1270- $ 1258, resistance levels - $ 1278- $ 1292.

Prices for silver declined to $ 16.56 per troy ounce in correlation with the gold market, after which they stabilized near $ 16.68. The ratio of gold to silver is 76.47 points. The ratio of platinum to silver is 57.75 points. The nearest support levels in silver are $ 16.56-16.12, resistance levels are $ 16.85- $ 17.15.

Prices for platinum showed a decline to $ 955 per ounce, then recovered to $ 968. The spread between gold and platinum is $ 314 / ounce. The spread between platinum and palladium is $ 71.5 / ounce. The nearest support levels in platinum are $ 958-938, resistance levels are $ 975-996.

Prices for palladium dropped sharply yesterday to $ 878 per ounce under the influence of a large volume of sales, after which they rose to $ 893. The nearest support levels in palladium are $ 884-840, resistance levels are $ 895-905. Stocks in gold and palladium ETF-funds have grown, stocks in platinum funds have gone down.

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