Wednesday, August 23 2017 17:56

ArmInfo. State Treasury of Precious Metals raised prices for precious metals in Armenia by 0.9%, after rising by 0.8% a week earlier. This dynamics was provoked by silver and palladium, which changed the trend from descending to ascending, and gold continues to grow in price, against which platinum became cheaper.

The following selling prices for precious metals were established from August 21 to 27, 2017: gold gram (measured bars) - 19717.08 AMD (acceleration of weekly growth from 0.3% up to 0.8%), silver - 259.86 AMD (change of weekly dynamics from 0.1% decline to 1.3% growth), platinum - 14917.03 AMD (change of weekly dynamics from 2.8% growth by 0.5% decline), and palladium - 13964.67 AMD (change of weekly dynamics from 0.1% decline to 1.9% growth).

According to international exchanges, August 22, 2017 at 15:32 Moscow time, the spot price of the troy ounce of gold was $ 1291.3 (daily decline of 0.02%), silver - $ 17.16 (daily decline of 0.06%), platinum - $ 986 (without daily changes) and palladium - $ 937 (daily decline of 0.11% ).

The stock indexes and the USD got a boost yesterday due to news about the progress of the administration of US President Donald Trump in reaching a consensus on tax reform. Against this background, gold remained under pressure. Nevertheless, the decline in precious metal quotes is still limited to support at around $ 1,282 per ounce. Attempts to grow, in turn, are limited by resistance in the region of $ 1,290.  According to the analysts of the OIFT, before the speeches of the heads of central banks at the symposium in Jackson Hole, gold can remain in the consolidation range. Loss of support $ 1,282/80 per ounce will lead to a decrease in the direction of $ 1270- $ 1260.

In recent days, fluctuations in silver prices have not been dynamic. His quotes are squeezed in a narrow range between the levels of $ 17.12 and $ 16.87 per ounce. Breaking the resistance around $ 17.20 will lead to an increase in the direction of $ 17.70 per ounce, and a loss of support of $ 16.90 - to a decrease to support of $ 16.60 / 50.