Wednesday, February 14 2018 17:00
Alina Hovhannisyan

Prices for precious metals in Armenia accelerated the rate of decline

Prices for precious metals in Armenia accelerated the rate of decline

ArmInfo. Prices for  precious metals this week accelerated the rate of decline to 2.6%,  against 1% a week earlier. The current dynamics provoked the  acceleration of the decline in prices for gold, platinum and  palladium, as well as the change in the trend of silver from  ascending to downward.

According to the Armenian Finance Ministry's "State treasury of  precious metals and stones" Agency, from February 12 to 18, 2018, the  following selling prices for precious metals were established: gram  of gold (measured bars) - 20590.15 AMD (acceleration of weekly  decline from 0.2% up to 0.9%), silver - 258.95 drams (change of  weekly dynamics from 0.01% growth to 2.8% decline), platinum - 15  266.28 (acceleration of the weekly decline from 1% to 1.5%), and  palladium - 15589.96 (acceleration of the weekly decline from 3% to  5%).  According to international exchanges, February 14, 2018 at 14:  17msk, the spot price of the troy ounce of gold was $ 1332 (daily  decline by 0, 01%), silver - $ 16.7 (without diurnal changes),  platinum - $ 981 (without diurnal changes) and palladium - $ 990  (without diurnal changes).

The precious metal markets are growing today under the influence of  the weakening of the USD, the stock market continues to be adjusted  upwards.

Gold prices recovered to $ 1340 per troy ounce, after which they are  adjusted downwards. The price levels below $ 1,300 are interesting  for buying metal for a long time. The nearest levels of support in  gold are $ 1325- $ 1310, resistance levels are $ 1340-1365.

Silver prices in correlation with the gold market recovered to $  16.63 per ounce, after which they went down a bit. The ratio of gold  to silver is 80.24 points. The ratio of platinum to silver is 58.74  points. The nearest support levels in silver are $ 16.45-16.20,  resistance levels are $ 16.70-17.0.

Prices for platinum in correlation with the gold market rose to a  level of $ 984 per ounce, after which they dropped to the level of $  978. The spread between gold and platinum is $ 356/ounce. The spread  between platinum and palladium has again turned in favor of palladium  and is - $ 11/ounce. The nearest support levels in platinum are $  973-924, resistance levels are $ 984-1010.

Prices for palladium recovered to the level of $ 987 per ounce in  correlation with the growth in the stock market, after which they  dropped to the level of $ 983. The nearest support levels in  palladium are $ 976- 955, resistance levels are $ 987-1006.

Stocks in gold ETF-funds fell, stocks in other funds have not  changed.

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