The price of gold falls on stronger U.S. dollar
Markets gold, silver and platinum today, falling under the impact of the strengthening of the U.S. dollar, and the palladium market is growing in correlation with the rebound in the stock market.
Investors continue to sell precious metals in anticipation of the fed raising interest rates USA (March 21, 2018), but the insurance function of metal demand, which allows to avoid the dramatic decline in prices. Instability in the stock markets and generally in the world economy supports interest in gold.
The ECB started to shift the focus of debate to the discussion of the rate of increase in interest rates in connection with necessity of completion of the program of buying bonds in September this year. The original discussion start raising rates in mid-2019.
Stocks in the silver ETF-funds have grown, stocks in the rest of ETF funds, precious metals have not changed.
Prices on precious metals in Shanghai SGE declined, the volume of trading in platinum rose sharply, the yuan to the U.S. dollar slightly strengthened.
Gold prices rose to the level of $1315 in the background, risks and pending the decision of the U.S. Federal reserve. Market consolidation continues near the level of $1300 aktiviziruyutsya purchase.
The nearest support levels in gold are $1300-1285, resistance levels – $1320-1343.
Silver prices in correlation with the market of gold rose to $16,31. The ratio of gold to silver is 80,62 points. The ratio of platinum to silver is 58,40 points.
The next support levels in silver – $of 16.21-16,10, resistance levels – $16,34-16,48.
The price of platinum in correlation with the market of gold decreased to the level of $943, and then recovered to the level of $956. The spread between gold and platinum is $363/oz. The spread between platinum and palladium is $37/oz.
The next support levels in platinum – $943-922, resistance levels at $970-990.
The palladium market after rising to the level of $993 decreased again to the level of $989. The stock market’s weakness and overbought have a negative impact on prices.
The next support levels in palladium – $981-939, resistance levels – $993-1020.
Analyst of commodity markets,