Wednesday, February 28 2018 18:24
Alina Hovhannisyan

In Armenia, prices for precious metals turned in the direction of growth

In Armenia, prices for precious metals turned in the direction of growth

ArmInfo. Prices for precious metals this week unfolded the trend from a downward 0.2% to an upward 0.8%. This was triggered by a change in the dynamics of prices for platinum and palladium from a recession to growth, with the continued negative trend of silver and the reversal of gold prices in the direction of recession.

According to the "State Treasury of precious metals and stones" Agency of the RA Ministry of Finance, the following selling prices for precious metals were established from February 26 to March 4, 2018: gram of gold (measured bars) - AMD 20614.85 (change of weekly dynamics from 0.5 % growth on a 0.4% decline), silver - 255.70 drams (maintaining a weekly decline of 0.6%), platinum - 15413.80 drams (a change in the weekly dynamics from a 0.4% decline on 1.4% growth) and palladium - 15980.95 drams (change of weekly dynamics from 0.4% decline to 3% growth).

According to international exchanges, February 28, 2018. at 14: 31 Moscow time. The spot price of troy ounce of gold was $ 1339 (daily growth by 0.01%), silver - $ 16.75 (without diurnal changes), platinum - $ 1005 (without daily changes) and palladium - $ 1057 (daily growth of 0.09%).

The precious metal markets are growing today, despite the strengthening of the US dollar. Stagnation in the stock market and instability in the debt markets support the gold market.

Gold prices fell to $ 1315 per troy ounce under the influence of the speech of Jarom Powell, but the market remains stable. The nearest levels of support in gold are $ 1315-1300, resistance levels - $ 1342-1365.

Prices for silver in correlation with the gold market declined to $ 16.27 per ounce, after which they recovered to $ 16.38. The ratio of gold to silver is 80.26 points. The ratio of platinum to silver is 59.82 points. The nearest support levels in silver are $ 16.28-16.0, resistance levels are $ 16.59-16.70.

Prices for platinum in correlation with the gold market declined to the level of $ 982 per ounce, after which they again recovered to the level of $ 985. The spread between gold and platinum is $ 335/ounce. The spread between platinum and palladium has expanded to - $ 52.5/ounce. The nearest support levels in platinum are $ 982-956, resistance levels are $ 986-1001.

The palladium market again fell to $ 1,029 an ounce, after which prices rose to $ 1039. The nearest support levels in palladium are $ 1029-1015, resistance levels are $ 1041-1053.

Stocks in gold and silver ETF-funds grew up, and stocks in palladium ETF-funds sank.

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