Tuesday, September 25 2012 15:38

Precious metal prices in Armenia up 8.2% Sept 2012


ArmInfo. In September gold and palladium prices in Armenia grew by 6,1% and 6,4% respectively, , while platinum price grew by 8.2% and silver - 11,8%. The State Treasury of Precious Metals and Stones of Armenia's Finance Ministry reported that in September 24-30 2012 one gram of gold cost 23,143,07 AMD (1.2% weekly growth), silver - 450,65 AMD (1,8% growth), platinum - 21,596,12 AMD (0.5% growth), palladium - 8,841,99 AMD (0.6% drop). Since the beginning of this year gold has grown in price by 16.7%, silver by 24,9%, platinum by 22.8%, palladium by 13.4%. The average growth in precious metal prices being 19.5%. In Q1 2012 the average precious metal price has grown by 10.1%, gold price by 3.9%, silver price by 10.7%, platinum price by 16.5%, palladium price by 9.4%.

In the 2Q 2012 the average precious metal price dropped by 1,5%, platinum price by 3.7%, silver price by 5,4% and palladium - by 1,8%, and gold grew in price by 4,7%. In general, precious metals grew in price by 8,3% for the first half of 2012, chiefly thanks to growth in price of platinum - by 12,2% and gold - by 8,8% against the background of which palladium grew in price by 7,4% and silver - by 4,7%. In July 2012 the average precious metal price dropped by 4.8%,and in August - by grew by 7,7%. The highest average growth in precious metal prices was registered in Jan 2012 - 9.5% and September - 8,2%. The lowest average dropping in precious metal prices was registered in March - by 5,1% thanks to dropping of prices for silver and gold by 6-7%. In 2011 gold price in the world grew by 10%, marking the 11th consecutive year of growth (the longest period since 1920). In Q1 2012 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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