Wednesday, June 27 2012 14:44

In June precious metal prices in Armenia rose by 7.4%


ArmInfo. In June 2012 the precious metal prices in Armenia grew by 7.4% due to 9.2% growth in the palladium price, 8.1% growth in the gold price, 6.7% growth in the platinum price and 5.8% growth in the silver price.

The State Depository of Precious Metals and Stones of Armenia's Finance Ministry reports that June 25-July 1 2012 one gram of gold will cost 21,571 AMD (0.6% weekly growth), silver - 377.52 AMD (1.35% drop), platinum - 19,734 AMD (1.1% growth), palladium - 8,370 AMD (0.5% growth).

Since the beginning of this year gold has grown in price by 8.8%, silver by 4.7%, platinum by 12.2%, palladium by 7.4%, the average growth in precious metal prices being 8.3%.

In Q2 2012 the average precious metal price dropped by 1.5%, the gold price grew by 4.7%, the palladium price by 1.5%, the silver price dropped by 5.4%, the platinum price by 3.7%.

In 2011 the gold price in the world grew by 10%, marking the 11th consecutive year of growth (the longest period since 1920). In Q1 2012 the gold price grew by 6.7%, but in May 2012 it dropped by 6%.

The key factors keeping the gold price high are the financial crisis in Europe and growing inflation worldwide.
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