Wednesday, July 25 2012 19:37
In July palladium and silver drop in price by 6%
ArmInfo. The abrupt decline of precious metal prices in July in Armenia is due to 7.6% reduction in palladium prices, 5.8% decrease in silver prices, and 2.2% and 3.8% reduction in the prices of gold and platinum respectively. 0.1% average reduction in prices of precious metals is fixed in Armenia for the current week against the background of 0.2% growth in gold, silver and platinum prices and 0.8% reduction in platinum prices.
The State Depository of Precious Metals and Stones of the Armenian Finance Ministry told ArmInfo that the following prices have been fixed for 23-29 July 2012: gold (small bullions) - 20976,91 AMD (0.2% weekly growth), silver - 360,61 AMD (0.04% increase), platinum - 18767,94 AMD (0.8% decrease), palladium - 7694,28 AMD (0.3% increase).
As compared to the beginning of 2012, gold in Armenia has grown in price by 2.8%, platinum - by 6.8%, while palladium has dropped in price by 1.3% and silver - by 0.02%. The average growth of precious metal prices since early 2012 is 2.8%.
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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