The cost of precious metals trading results on Tuesday, February 18 in New York has changed in different directions . The official spot prices were: Gold – 1323.3 usd . / Ounce ( -0.52 %), silver – 22.06 usd . / Ounce ( 0.57 % ), platinum – 1430 usd . / Ounce ( -0 , 35%) , palladium – 740 usd . / ounce ( -0.68 %).
As Vladimir Bragin , director of analysis of financial markets and macroeconomics CC ” Alfa Capital ” for precious metals second decade of February stood out successful gold supported the weakened dollar , updated three-month highs . It should also be noted that the published data on the consumption of the yellow metal in China. For 2013. the growth rate was 41% , and were the main driver of gold bullion ( 57 %).
As regards the second largest consumer of gold – India , there are growing expectations of lower import duties. Now gold prices also supports the growth of individual physical ETF. So , SPDR Gold Trust, the biggest gold ETF, the past week has increased reserves by 240 million ounces . For the benefit of precious metals is the situation on the currency market . For example , the strengthening of the South African rand reduces the risk of filling the market with cheap platinum.
Interestingly, the sharp acceleration of growth in gold prices coincided with an equally sharp decline in quotations Bitcoins ( kriptovalyuta , which many consider a digital gold through decentralization ), which is also likely to support prices for precious metals . Some countries have recently announced that illegal digital currency , which led to an overflow of funds in February Bitcoins into gold. According to a recent report Commitments of Traders, large speculators have begun to increase again long positions (ie positions on the purchase ) in gold , resulting figure reached new highs since November last year . This shows the confidence in the continued growth of prices in the medium term , the analyst believes MFX Broker Sergei Nekrasov .
On Wednesday , February 19 , at 8:00 MSK gold futures stood at 1,315.48 dollars . / Ounce ( -0.67 %), silver – 21.69 usd . / Ounce ( -0.96 % ), platinum – 1416.72 usd . / ounce ( -0.54 %) , palladium – 734 usd . / ounce ( -0.36 %).