Tuesday, August 2 2011 18:40

Precious metals keep on rising in price


ArmInfo. 1% average growth in prices of precious metals will be fixed in Armenia for the current week against the background of 2.6% growth in palladium prices and 1% average growth in prices of gold and silver.

The State Depository of Precious Metals and Stones of the Armenian Finance Ministry told ArmInfo that the following prices have been fixed for 1-7 August 2011: gold (small bullions) - 18900,96 AMD (0.5% weekly growth), silver - 471,43 AMD (5.5% growth), platinum - 20936,45 AMD (0.1% weekly growth), palladium - 9606,78 AMD (2.6% weekly growth).

Since early 2011, gold in Armenia has grown in price by 17.8%, silver - by 39.1%, platinum - by 5%, and palladium - by 10%. The average growth of precious metals prices since early 2011 is 18%.

Over Q1 2011, precious metals grew in price by 9.7% and over Q2 - by 2.5%. Over Q1 2011 gold and silver rose n prices by 17.2%, while platinum and palladium grew in price by 2.2%, and over Q2 gpld price rose by 8.8%, platinum and palladium - by 1.5%, while silver price dropped by 1.6%.

Over the first half of 2011, precious metals grew in price by 12.3%, mostly due to the considerable growth in prices of silver (by 26.5%) and gold (by 15.1%), while platinum and palladium rose in price by 3-4%. In June precious metals dropped in price by 4%, this tendency continued in early July, but the prices have started growing since July 10 due to the silver and palladium price growth. In July the precious metals rose in price by almost 4%: gold and silver - by 5.6%, and platinum and palladium - by 2.2%.
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