Wednesday, October 18 2017 20:51
Alina Hovhannisyan

State Treasury raise precious metals price by 2.6%

State Treasury raise precious metals price by 2.6%

ArmInfo. Precious metals in  Armenia were subdivided into 2.6% against 0.8% decrease of last week.  The growth of prices has provoked the gold, silver and platinum, and  the downward trend is on the rise with the palladium price uptrend.

As reported to ArmInfo by the Agency "State Treasury of Metals and  Stones" of RA Ministry of Finance, from 16 to 22 October 2017,  following deductible prices on metal are established: grams of gold  (slender slices) - 19946.66 AMD (weekly dynamics change from 1,4%  decrease to 1,9% growth), silver - 264,54 AMD (weekly dynamics change  from 1,4% decrease to 3,1% growth), platinum - 14367.17 AMD (weekly  dynamics change from 1,2% decrease to 2,3% growth) and palladium -  14747.15 AMD weekly uptrend increase from 0.6% to 3.2%.

According to the International Monetary Fund, October 18, 2017 at  19:13 PM Moscow time, spot price was $ 1281.7 (daily growth was  0.1%), silver - $ 17.09 (daily growth 0.06%), platinum - $ 926 (no  changes) and palladium - $ 96 (without changes). The market for  precious metals is dropping today, with the continuing expansion of  the USD.

According to a poll of delegates at the LBMA conference, by October  2018, the value of gold could rise to $ 1369 per ounce, silver prices  will rise to $ 21.60, the cost of platinum will increase to $ 1072.6,  palladium - to $ 1150.4.

The stock market continues to grow, which has a negative impact on  the precious metals markets. Gold prices fell to $ 1283 per troy  ounce under the influence of the weakening geopolitical tensions in  the world.  The nearest levels of support in gold are $ 1,290-1,257,  resistance levels are $ 1310-1322. Bank Goldman Sachs believes that  gold is currently close to the fair value, which, according to the  bank, is at $ 1,300 per ounce. According to preliminary estimates, by  mid-2018. The price of gold may fall to $ 1200 before the resumption  of the upward trend. By the end of 2020 the price of gold could reach  $ 1375. The main reason for short-term support for gold is "fear, in  particular for advanced economies," and for a long-term growing  trend, "wealth" is most relevant for emerging economies.

The prices for silver dropped to $ 16.99 per ounce in correlation  with the gold market. The ratio of gold to silver is 75.45 points.  The ratio of platinum to silver is 54.92 points. The nearest support  levels in silver are $ 16.96-16.62, resistance levels are $  17.11-17.48.

Prices for platinum fell to the level of $ 927 per ounce in  correlation with the gold market. The spread between gold and  platinum is $ 355/ounce. The spread between platinum and palladium is  $ 45.8/ounce.  Platinum remains under additional pressure flowing  into palladium consumption. The nearest support levels in platinum  are $ 919-907, resistance levels are $ 937-949.

Prices for palladium remain near the level of $ 976 per ounce under  the influence of profit-taking by market participants. An additional  impetus to the growth of metal received from the additional demand  for cars in the US after the hurricane season - it was damaged about  700 thousand cars, which in the next few months will provide  additional demand. The palladium market also supports the growth of  the global car market:  sales growth in China in September was 5.7%  in annual terms (+ 4.5% in 9 months 2017). In Europe, sales of cars  with a gasoline engine are also growing. The nearest support levels  in palladium are $ 972-957, resistance levels are $ 986-1004.

Stocks in gold and platinum ETF-funds have grown, stocks in silver  and palladium ETF-funds have increased.

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10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

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200 million

Yield at cut-off price

 5.8314%

Maximum yield

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СПРОС (Покупка)

USD

Средневзв. Цена

482,00

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  USD

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-

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482,00

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96 400 000