Thursday, December 7 2017 17:27

In Armenia, silver is cheaper against the background of a rise in price of gold, platinum and palladium

ArmInfo. In Armenia, this  week prices for precious metals slightly accelerated growth rates -  to 0.2% from 0.01% last week. Moreover, during the reporting period  only silver was delayed in a downtrend, while gold and palladium  continued to grow in price, and platinum changed the vector from a  decline to growth.

According to the state treasury of precious metals and stones of the  Ministry of Finance of Armenia, following selling prices for precious  metals were established from December 4 to December 10, 2017: gold  gram (measured ingots) - 20036.61 AMD (acceleration of weekly growth  from 0.01% up to 0.02%), silver - 261.47 AMD (acceleration of the  weekly decline from 0.4% to 1.4%), platinum-14681.25 AMD (change of  weekly dynamics from 0.03% decline to 1% growth), and palladium -  15736.83 AMD (acceleration of weekly growth from 0.7% to 1%).

According to international exchanges, December 7, 2017 at 11:37  Moscow time. The spot price of a troy ounce of gold was $ 1258.5  (daily growth by 0, 01%), silver - $ 15. 98 (without diurnal  changes), platinum - $ 904 (without diurnal changes) and palladium -  $ 1001 (without diurnal changes). The precious metal markets are now  falling under the influence of growth in the US stock market and  strengthening the US dollar. A small increase is observed in  palladium.

Gold prices fell from $ 1,270 to $ 1258 per troy ounce. Investors are  in anticipation of the December meeting of the US Federal Reserve.  The nearest levels of support in gold are $ 1245-1220, resistance  levels are $ 1270-1290.

Prices for silver in correlation with the gold market fell from $  16.145 to $ 15.90 per ounce. The ratio of gold to silver is 79.15  points. The ratio of platinum to silver is 56.66 points. The nearest  support levels in silver - $ 15.88-15.70, resistance levels - $  16.15-15.40.

Prices for platinum in correlation with the gold market dropped from  $ 920 to $ 899 per ounce. A significant reduction in prices can lead  to testing a three-year price minimum. The spread between gold and  platinum is $ 362 / oz. The spread between platinum and palladium  again expanded to - $ 92 / ounce. The nearest levels of support in  platinum- $ 897-832, the resistance levels are $ 903-916.

Prices for palladium fell to $ 980 per ounce in correlation with the  fall of the stock market, after which the market recovered to $ 990.  The nearest support levels in palladium are $ 980-969, resistance  levels are $ 993-1017.

Stocks in gold and palladium ETFs fell, stocks in silver ETF funds  increased.

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