Prices for precious metals in Armenia continue to decline

ArmInfo. Prices for precious metals in Armenia continue to decline - by 1.8%, against the decline of 0.6% over the past week. This trend was triggered by a more rapid reduction in the price of platinum and a change in the vector of palladium prices from the ascent to a recession. Against this background, a meager rise in price of gold and silver, could not bring the dynamics of prices for precious metals from the recession.

According to the "State Treasury of precious metals and stones" Agency of the RA Ministry of Finance, from March 12 to March 18, 2018 the following selling prices for precious metals were established: gold gram (measured ingots) - 20479.10 drams (change of weekly dynamics from 0.8% decline to 0.2% growth), silver - 255.75 drams (change of weekly dynamics from 0.8% decline to 0.2% growth), platinum - 14792.06 drams (acceleration of the weekly decline from 1.5% to 2.6%) and palladium - 15191.07 drams (change of weekly dynamics from 0.1% growth to 5.1% decline).

According to international exchanges, March 14, 2018. at 14: 33 Moscow time. The spot price of the troy ounce of gold was $ 1326 (daily decline of 0.02%), silver - $ 16.65 (daily decline of 0.06%), platinum - $ 973 (daily decline of 0.1%) and palladium - $ 1008 (without diurnal changes).  Gold and silver markets are now falling under the influence of the strengthening US dollar. Prices for platinum are growing, and the cost of palladium is reduced under the influence of spread trades. Restoration of activity in the stock markets and increased yields on the bond market draw investors' funds from the precious metals markets.

Gold prices rose to $ 1,330 per troy ounce under the influence of growing political uncertainty and protectionist scandals initiated by the United States. The nearest levels of support in gold are $ 1316-1285, resistance levels - $ 1343-1365.

Silver prices in correlation with the gold market rose to $ 16.66 per ounce, after which they dropped to $ 16.59. The ratio of gold to silver is 79.97 points. The ratio of platinum to silver is 58.38 points. The nearest support levels in silver are $ 16.45-16.10, resistance levels are $ 16.65-17.

Platinum prices in correlation with the gold market declined to $ 962, after which they recovered to the level of $ 970. The spread between gold and platinum is $ 364 / oz. The spread between platinum and palladium is - $ 29 / ounce. The nearest support levels in platinum are $ 962-949, resistance levels are $ 974-998. The palladium market recovered to $ 990 after a decline to $ 971 per ounce. The nearest support levels in palladium are $ 966-939, resistance levels are $ 1000-1020.

Stocks in silver ETF-funds have grown, stocks in other ETF-funds of precious metals have not changed.