Investors do not risk to invest in gold on a background of growth of US dollar exchange rate
The prices of precious metals are falling today under the impact of the strengthening of the US dollar. However, the correction of the stock markets are down, geopolitical tensions, higher inflation expectations and the withdrawal of investors from risky assets support insurance metals.
Stocks in gold and palladium ETF funds has declined, stocks in the rest of ETF funds, precious metals have not changed.
Gold prices in Shanghai for SGE decreased, the cost of silver has grown, the trading volume fell, the yuan to the U.S. dollar slightly weakened.
According to statistics, net import of gold from Hong Kong to China in February 2018 totaled 33,245 51,569 tons, against tons in January 2018 Total gold imports from Hong Kong to China amounted to 34,147 tons.
Gold prices tested the level of $1356 amid growth uncertainty and inflation expectations, and then fell sharply to $1339.
The nearest support levels in gold are $1325-1300, resistance levels – $1345-1365.
Silver prices in correlation with the gold market has tested the level of $16,78, and then decreased to the level $of 16.46. The ratio of gold to silver is 81,34 points. The ratio of platinum to silver is 57,07 points.
The next support levels in silver – $16,20-15,90, resistance levels – $16,55-16,78.
The price of platinum in correlation to gold market grew to $966, and then fell to the level of $943. The spread between gold and platinum widened to $401/oz – the insurance function of platinum is expressed clearly smaller than that of gold, the metal carries additional risks from a possible reduction in economic growth and industrial consumption. The spread between platinum and palladium is of$29.5/oz.
The next support levels in platinum – $939-920, resistance levels – $952-966.
Palladium prices were again under selling pressure and fell to $968. The next support levels in palladium – $967-933, resistance levels – $978-991.
Analyst of commodity markets,