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.

POST A COMMENT
Input digits     


News
Number of plastic cards up as capital relocated to Armenia Number of plastic cards up as capital relocated to Armenia 
AMD 4,248,945 to AMD 4,248,945 to "QaylTech": The August beneficiary of "The Power of One Dram" is "The Rehabilitation City of Heroes" - psychological rehabilitation center
Airlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in ArmeniaAirlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in Armenia
Cargo traffic down, passenger traffic up in Armenia in first half,  2022Cargo traffic down, passenger traffic up in Armenia in first half,  2022
Growth of trade sector was facilitated by increase in activity in  wholesale and car trade marketsGrowth of trade sector was facilitated by increase in activity in  wholesale and car trade markets
4.5% increase in proceeds of Armenia`s communication sector in first  half 20224.5% increase in proceeds of Armenia`s communication sector in first  half 2022
188,856 tourists visit Armenia this July188,856 tourists visit Armenia this July
Accelerated growth of Armenian industrial sector was driven by  processing industryAccelerated growth of Armenian industrial sector was driven by  processing industry
Veolia Djur proposes to raise water tariff in ArmeniaVeolia Djur proposes to raise water tariff in Armenia
State Revenue Committee of Armenia starts active administration in  pursuance of law State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"
Armenia`s premier calls for revising economic programmes Armenia`s premier calls for revising economic programmes 
EDB to allocate $25 million to implement Armenia`s largest livestock  programEDB to allocate $25 million to implement Armenia`s largest livestock  program
Double-digit growth in economic activity in Armenia is accompanied by  surge in imports and exportsDouble-digit growth in economic activity in Armenia is accompanied by  surge in imports and exports
Armenian business forum to be held in Yerevan for second timeArmenian business forum to be held in Yerevan for second time
Production of aluminum foil in Armeniaincreased by 8% in June 2022Production of aluminum foil in Armeniaincreased by 8% in June 2022
Metallurgy industry of Armenia sums up H1 2022 with a 7% declineMetallurgy industry of Armenia sums up H1 2022 with a 7% decline
EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB 
EADB to allocate $37mln for construction of 11 solar power stationsEADB to allocate $37mln for construction of 11 solar power stations
Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%
 Further rise in food prices in Armenia  Further rise in food prices in Armenia 
Loan payoff with another bank via AppLoan payoff with another bank via App
Deputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpointDeputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpoint
Ferry communication to be launched this month - minister Ferry communication to be launched this month - minister 
Armenia is among the TOP-5 destinations for Russian tourists this  autumArmenia is among the TOP-5 destinations for Russian tourists this  autum
Austria to invest in Armenia`s SyunikAustria to invest in Armenia`s Syunik
Gyumri Breeding Station reports three-fold growth in barley output Gyumri Breeding Station reports three-fold growth in barley output 
CBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banksCBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banks
CBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increaseCBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increase
Minister: The share of the mining industry in the total volume of  Armenia`s exports has decreasedMinister: The share of the mining industry in the total volume of  Armenia`s exports has decreased
Statistical data, real situation in agricultural sector different -  minister Statistical data, real situation in agricultural sector different -  minister 
FLYONE ARMENIA launches flights to Domodedovo International AirportFLYONE ARMENIA launches flights to Domodedovo International Airport
Armenia, Iran deepen cooperation in mining industryArmenia, Iran deepen cooperation in mining industry
CBA raises refinancing rate from 9.25% to 9.5% CBA raises refinancing rate from 9.25% to 9.5% 
23.9% rise in petrol prices in Armenia in first half of 2022 23.9% rise in petrol prices in Armenia in first half of 2022 
Armenia meets Russia`s brand demandArmenia meets Russia`s brand demand
Armenia is not ready to open the land border with Turkey: ExpertArmenia is not ready to open the land border with Turkey: Expert
Armenia, Qatar discuss possible areas of bilateral cooperationArmenia, Qatar discuss possible areas of bilateral cooperation
Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022
Ardshinbank offers a new type of loan for small and medium enterprises.Ardshinbank offers a new type of loan for small and medium enterprises.
Armenia among priority partners of Austrian Development AgencyArmenia among priority partners of Austrian Development Agency
International reserves of Armenia reaches historical maximum by July  2022International reserves of Armenia reaches historical maximum by July  2022
More funds for government-sponsored medical services More funds for government-sponsored medical services 
South Caucasus Railway delivers production equipment from Yerevan to  KrasnodarSouth Caucasus Railway delivers production equipment from Yerevan to  Krasnodar
4% inflation expected in Armenia in medium-term 4% inflation expected in Armenia in medium-term 
Ameriabank leads in list of largest taxpaying banks in ArmeniaAmeriabank leads in list of largest taxpaying banks in Armenia
Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022
Over 500 Armenian servicemen to benefit from soft lending programmeOver 500 Armenian servicemen to benefit from soft lending programme
Washington to allocate $120mln to Armenia for democratic development,  economic stabilityWashington to allocate $120mln to Armenia for democratic development,  economic stability
17.1% increase in food prices significantly affected low-income  citizens of Armenia - study17.1% increase in food prices significantly affected low-income  citizens of Armenia - study
Armenia, Ethiopia consider development of cooperation in e-governance  and technology educationArmenia, Ethiopia consider development of cooperation in e-governance  and technology education
Armenian assets of GeoProMining Group of Compaines significantly  increase payments to state budgetArmenian assets of GeoProMining Group of Compaines significantly  increase payments to state budget
Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s "Gloomy and More Uncertain"  forecast
Armenia`s vice-premier hosts AMD company vice-presidents Armenia`s vice-premier hosts AMD company vice-presidents 
MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development 
Mirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relationsMirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relations
Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022
Converse Bank completes distribution of bonds ahead of scheduleConverse Bank completes distribution of bonds ahead of schedule
Armenia implements intellectual property development strategyArmenia implements intellectual property development strategy
Iran successfully expands trade with Armenia: Iran TPO headIran successfully expands trade with Armenia: Iran TPO head
Converse Bank offers new loans to SME’sConverse Bank offers new loans to SME’s
Read more


Exchange rates
11.08.2022
RUB6.70-0.01
USD406.090.31
EUR419.784.30
GBP495.674.92
CAD318.132.94
JPY30.630.57
CNY60.320.30
CHF431.413.82