The price of gold rose on falling stock markets

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The precious metals markets today, falling under the impact of the strengthening of the US dollar. The fall in the stock market and instability in the debt markets have supported the gold market. Stocks in ETF funds, precious metals have not changed.
Prices on precious metals in Shanghai SGE decreased trading volumes have grown, yuan to U.S. dollar weakened.
According to the Ministry of Finance of the Russian Federation, the decision on the abolition of VAT on sales of gold ingots to individuals deferred articulated reason for the reluctance to “stimulate the flow of funds from the banking system” in gold.
The Ministry against granting citizens the most reliable method of long-term investment in gold, since it reduces the possibility of manipulation leads to real prosperity. Also, the Finance Ministry intends to extend the system of continuous tracking of the movement of goods for gold bullion.
According to the Ministry of Finance of the Russian Federation, the problem of taxation of the gold industry VAT “extremely difficult”. In addition, the Ministry of Finance allows for the possibility of a ban on the export of secondary raw materials containing precious metals.
Gold prices fell to the level of $1308 under the influence of speech George. Powell and the strengthening of the U.S. dollar.
According to a poll of analysts by Reuters, by the end of 2018, gold prices can break above $1400 and reach $1450, because the growth of uncertainty markets stocks and bonds increases the demand for protective assets. An increase in inflation expectations is also supporting the precious metals markets.
The nearest support levels in gold are $1300-1285, resistance levels – $1322-1343.
Silver prices in correlation with the gold market declined to $16,2. The ratio of gold to silver is 80,32 points. The ratio of platinum to silver is 59,56 points.
The next support levels in silver – just $15.95-of 15.75, the resistance levels – $16,58 is 16.7.
The price of platinum in correlation with the market of gold fell to $971. The spread between gold and platinum is $335/oz. The spread between platinum and palladium has widened to -$59/oz.
The next support levels in platinum – $956-949, resistance levels – $986-1001.
The palladium market fell sharply from $1035 to $1006 in correlation with the weakness in the stock market and the markets of other precious metals.
The next support levels in palladium – $982-957, resistance levels – $1013-1035.
Oksana Lukicheva
Analyst of commodity markets,
“Opening Broker”