Wednesday, October 25 2017 17:18
Alina Hovhannisyan

Precious metals in Armenia slightly increased in price

ArmInfo. This week precious metals in Armenia slightly added in price - by 0.8%, against growth of 2.6% a week earlier. Dynamics is largely due to the release of the dynamics of the value of gold from a recession to growth, against the backdrop of maintaining prices for palladium and silver in the up trend with some slowdown, in parallel with which the platinum has changed the vector from growth to decline.

According to the Armenian Finance Ministry Agency of State Treasury, from October 23 to October 29, 2017 the following selling prices for precious metals were established: gold gram (measured ingots) - 19947.08 AMD (with scant growth), silver - 265.06 AMD (slowing the weekly growth from 3.1% to 0, 2%), platinum - 14366.33 drams (with a meager decline), and palladium - 15161.52 AMD (slowing the weekly growth from 3.2% to 2.8%).

According to international exchanges, October 25, 2017 at 14:43 Moscow time, spot price of a troy ounce of gold was $ 1274.3 (a daily decline of 0.01%), silver - $ 16. 94 (daily decline of 0.06%), platinum - $ 919 (daily growth of 0.11%) and palladium - $ 960 (without daily changes). The precious metal markets continue to decline today under the influence of the stable US dollar exchange rate and the sluggish market as a whole.

The price of gold fell to $ 1273 per troy ounce. The nearest levels of support in gold are $ 1267-1245, resistance levels are $ 1281-1293.  Prices for silver fell to $ 16.887 per ounce in correlation with the gold market. The ratio of gold to silver is 75.24 points. The ratio of platinum to silver is 54.25 points. The nearest support levels in silver are $ 16.63- 16.37, resistance levels are $ 17.15-17.48.

Prices for platinum fell to a level of $ 917 per ounce in correlation with the gold market. The spread between gold and platinum is $ 356 / oz. The spread between platinum and palladium is - $ 42.5 / ounce.  The nearest support levels in platinum are $ 917-907, resistance levels are $ 931-949.

Prices for palladium declined to $ 949 an ounce, then recovered to $ 956. The nearest support levels in palladium are $ 949-936, resistance levels are $ 961- $ 983.  The reserves in ETF-funds of precious metals have not changed.

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