Wednesday, September 13 2017 15:15
Alina Hovhannisyan

Armenian State Treasury raised prices for metals by 2%

Armenian State Treasury raised prices for metals by 2%

ArmInfo. This week  precious metals in Armenia went up by 2%, against 1.7% a week  earlier. A slight acceleration in the growth of prices for precious  metals was provoked mostly by palladium and partly by platinum, while  gold and silver slowed the upward trend.

The following selling prices for precious metals were established  from 11 to 17 September 2017: gold gram (measured bars) - 20589.57  AMD (slowing of the weekly growth from 2% to 1,8%), silver - 274.94  (slowing the weekly growth from 2.6% to 2.2%), platinum - 15501.95  (acceleration of weekly growth from 1% to 1.4%), and palladium -  14794.27 (acceleration of weekly growth from 0.3% to 2.5%).

According to international exchanges, September 13, 2017 at 11:57  Moscow time, the spot price of the troy ounce of gold was $ 1334.3  (daily decline by 0.01%), silver - $ 18.02 (daily decline of 0.06%),  platinum - $ 990 (daily decline of 0.1%) and palladium - $ 953).  Today, the precious metals markets are adjusted upwards, removing  yesterday's oversold due to the continued weakening of the USD. The  American stock market is also declining from the established record,  which supports the precious metal markets.

Gold prices rose sharply to $ 1340 per troy ounce, after which they  were went down to $ 1336. The consolidation of the price of gold  above the level of $ 1,330 opens the market path to the levels of $  1,450- 1620. The nearest levels of support in gold are $ 1334-1322,  resistance levels - $ 1340- $ 1376.

The price of silver yesterday declined to $ 17.80 per ounce in  correlation with the gold market, after which it recovered to $ 18.0.  The ratio of gold to silver is 74.29 points. The ratio of platinum to  silver is 54.71 points. The nearest support levels in silver are $  17,80-17,67, resistance levels are $ 18,05-18,29.

Platinum prices fell to $ 983 per ounce in correlation with the gold  market, after which they recovered to $ 990. The spread between gold  and platinum is $ 348/ounce. The spread between platinum and  palladium is $ 42/ounce. The nearest support levels in platinum are $  983-970, resistance levels are $ 993- 1007.

Prices for palladium rose to $ 953 in correlation with growth in the  stock market, after which they dropped to the level of $ 946. New  records on the US stock market support prices for palladium. The  nearest support levels in palladium are $ 928-895, resistance levels  are $ 953-975.

Stocks in silver and palladium ETF funds have grown, stocks in  platinum and gold funds have not changed. 

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