Monday, July 2 2012 18:26

Precious metals drop in price by 3.7%


ArmInfo. Almost 3.7% average reduction in prices of precious metals will be fixed in Armenia for the current week against the background of 4.3% decline in silver, platinum and palladium prices and 2% decline in gold prices.

The State Depository of Precious Metals and Stones of the Armenian Finance Ministry told ArmInfo that the following prices have been fixed for 2-8 July 2012: gold (small bullions) - 21142,95 AMD (2% weekly decline), silver - 362.41 AMD (4% decline), platinum - 19086,34 AMD (3.3% decline), palladium - 7908,75 AMD (5.5% decline).

As compared to the beginning of 2012, gold in Armenia has grown in price by 6.7%, silver - by 0.5%, platinum - by 8.6%, and palladium - by 1.5%. The average growth of precious metal prices since early 2012 is 4.3%.

Over Q1 2012 the precious metals rose in price by 10.1%: gold - by 3.9%, silver - by 10.7%, platinum - by 16.5%, and palladium - by 9.4%.

Over Q2 2012 the precious metals dropped in price by 1.5%: silver - by 5.4%, platinum - by 3.7%, palladium - by 1.8%, and gold grew in price by 4.7%. The biggest growth in precious metal prices in the first half of 2012 was fixed in January - by 9.5% due to the considerable growth in silver and platinum prices (by 11-12%), and in June - by 7.4% due to the considerable increase in gold and palladium prices (by 8-9%). The biggest decline in the precious metal prices in the first half of 2012 was fixed in March - by 5.1% due to the considerable decline in silver and gold prices (by 6-7%).
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