Gold prices on world markets are falling
The precious metals markets today, falling under the influence of a strengthening US dollar, rising stock market and lower yields. In Asia, continuing a long weekend, which reduces the activity of trade. Today in the United States celebrate President’s Day, which also reduced market activity.
In platinum stocks ETF-funds has not changed, the stocks in the other funds decreased.
Trading on the stock exchange SGE Shanghai are not carried out. Award for the supply of gold in the domestic market in Shanghai last week fell to $3-4/oz versus $9-10/ounce last week.
Award for the supply of gold in Hong Kong and Singapore have not changed, but demand remained good in the holidays. Award for the supply of gold in Tokyo amounted to $0.1/ounce.
Discounts on the supply of gold in India amounted to$3/ounce against premiums of $1.5/oz last week in connection with a falling due to rising prices demand.
The price of gold once again failed to pass the strong resistance at $1365, and then fell to the level of $1350. At the exit of the market above the resistance level of $1365 trend may continue to the $1395-1400.
The nearest support levels in gold are $1348-1310, resistance levels – $1365-1395.
Silver prices in correlation with the gold market fell to a level of $16,625. The ratio of gold to silver is to 80.85 points. The ratio of platinum to silver is 60,67 points.
The next support levels in silver – $16,59-16,20, resistance levels – $16,90-17,20.
The price of platinum in correlation with the gold market showed high volatility in the range of $1006-1016, the result of advancing to a level of $1015. The spread between gold and platinum is $345/ounce. The spread between platinum and palladium has widened to -$42/ounce.
The next support levels in platinum – $1006-956, resistance levels – $1016-1023.
The palladium market was seized with optimism, and metal prices recovered to the $1043/oz in correlation with the growth in the stock market.
The next support levels in palladium – $1014-997, resistance levels – $1054-1083.
Analyst of commodity markets,