Wednesday, October 11 2017 19:06
Alina Hovhannisyan

Precious metals lose prices slower in Armenia

Precious metals lose prices slower in Armenia

ArmInfo. This week precious metals in Armenia fell by 0.8%, against the 1.2% decline a week earlier. The slowdown in the decline in prices for precious metals provoked palladium, which against the background of cheaper other precious metals maintained an upward trend.

As the State Treasury agency of precious metals and stones reported of the RA Ministry of Finance told ArmInfo, from October 9 to October 15, 2017 the following selling prices for precious metals were established: gram of gold (measured bars) - 19580.88 AMD (acceleration of the weekly decline from 1.1% up to 1.4%), silver - 256.61 AMD (deceleration of the weekly decline from 1.6% to 1.4%), platinum - 14041.74 (slowing down the weekly decline from 2.5% to 1.2%), and palladium - 14290.69 (acceleration of weekly growth from 0.5% to 0.6%).

According to international exchanges, October 11, 2017 at 17:34 Moscow time, the spot price of troy ounce of gold was $ 1289.7 (daily growth of 0.02%), silver - $ 17.23 (daily decline of 0.12%), platinum - $ 937 (without daily changes) and palladium - $ 935 (daily decline of 0.1%). The precious metal markets, with the exception of palladium, are slightly down today, the USD rate does not show significant fluctuations.

Gold prices stabilized near the level of $ 1292 for one troy ounce under the influence of growth in demand in India, but the momentum is clearly not enough to restore the growth in prices. The nearest levels of support in gold are $ 1289-1257, resistance levels - $ 1296-1310. The price of silver rose to $ 17.24 per ounce in correlation with the gold market, after which it dropped to $ 17.16. The ratio of gold to silver is 75.24 points. The ratio of platinum to silver is 54.34 points. The nearest support levels in silver are $ 17.06- 16.65, resistance levels are $ 17.25-17.67. Prices for platinum rose to $ 938 per ounce in correlation with the gold market, after which they fell to $ 932. The spread between gold and platinum is $ 358/ounce. The spread between platinum and palladium is - $ 4.5/ounce. The nearest support levels in platinum are $ 925- 907, resistance levels are $ 938- 949. Palladium prices have risen to $ 938 per ounce in correlation with other precious metals markets, after which they have fallen to the level of $ 935. The nearest support levels in palladium are $ 918-904, resistance levels are $ 943-950. Stocks in gold and silver ETF-funds have grown, stocks in other ETF-funds of precious metals have not changed.

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