Precious Metals Markets are growing up today against the background of weakening US dollar. Overall trading activity is still low as the market is waiting for news from the ECB on the monetary policy, which may arise in the course of the upcoming meeting.
Stocks at ETF funds of precious metals have not changed.
The prices for precious metals in Shanghai grew up, trading volumes remain average. RMB exchange rate against the US dollar remained stable.
The gold prices again have tested the resistance level of $1,334 per ounce, near which they are at the moment. The nearest support levels in gold are $1,330-1,315, resistance levels are $1,334-1,377.
The silver prices continue to overgrow and have tested the level of $19.675 and then dropped to $19.615 an ounce.
The ratio of gold to silver is 68.0 points. The ratio of platinum to silver is 55.685 points. The nearest support levels in silver are $18.90-19.40, resistance levels are $19.68-19.90.
The platinum prices rose to the level of $1,089 an ounce, near which there are now. The spread between gold and platinum narrowed to $257 an ounce. The nearest support levels in platinum are $1,070-1,043, resistance levels are $1,102-1,138. The Miners Association and Construction Union (AMCU) has failed to reach a compromise in the next negotiations on wages between workers and representatives of companies Anglo American Platinum, Impala Platinum and Lonmin. Negotiations last from early July 2016. According to preliminary estimates, the platinum production in South Africa will decrease by about 7% in 2020 from the current level.
The palladium prices in correlation with other metals have recovered to the level of $686 an ounce. At the same time, rates for palladium price growth kept pace with rising prices for platinum. The nearest support levels in palladium are $683-674, resistance levels are $689-700.
The CBR prices of gold and silver coins have grown up under the influence of the weakening ruble against the US dollar.
Source: Uncommercial joint ownership "Trans-regional Association of precious metals producers"