The rate of gold may be reduced after the decision of the US fed at the rate of
The palladium market today growing up under the influence of the weakening U.S. dollar, and the markets of gold, silver and platinum remain under selling pressure. This week held a two-day fed policy meeting (20-21 March), which may be increased interest rate. This puts pressure on the precious metals markets. The COTR report showed that investors reduced positions in these markets. Stocks in gold and silver ETF funds grew, the inventory of the platinum ETF-funds fell.
Prices on precious metals in Shanghai SGE decreased trading volumes have grown, yuan to U.S. dollar weakened. Award for the supply of gold in the domestic market in China last week was about $8/oz, trading activity declined sharply. Premiums in Hong Kong amounted to us $0,6-1,2/ounce in Singapore – $0,6-0,8/ounce in Tokyo – $0,5-0,75/oz. The demand for gold in Tokyo continues to grow due to currency fluctuations. In India, there is still weak demand, which contributed to the fall of the discount -$3/ounce.
Gold prices dropped to $1310 in anticipation of 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 decreased to the level $of 16.21, after which grew to $16,25. The ratio of gold to silver is 80,39 points. The ratio of platinum to silver is 57,93 points. The next support levels in silver – $of 16.21-16,10, resistance levels – $16,32-16,48.
The price of platinum in correlation with the market of gold decreased to the level of $943, and then recovered to the level of $947. Fundamentally, the platinum market remains weak. The spread between gold and platinum is $370/ounce. The spread between platinum and palladium is $51,5/oz. The next support levels in platinum – $943-922, resistance levels at $950-970. The palladium market after a decline to $977 recovered to the level of $994. The stock market’s weakness and overbought have a negative impact on prices. The next support levels in palladium – $977-939, resistance levels – $1000-1020.
Analyst of commodity markets,