Armenia increased gold export in 2016 by 41.7%

ArmInfo. From Armenia, in 2016, 4002.4 kg of gold (including galvanic spraying) were exported, compared to 2823.9 kg a year earlier. According to the report of the Armenian Customs Service, in fact, in terms of weight, gold exports in 2016 increased by 41.7%, after a decline by 22% in 2015.

The customs value of exported gold in 2016 increased by 35.3% per annum to $ 131.1 million, against the growth by 18.3% a year earlier. At the same time, in 2016, the weight of imported gold decreased significantly by 24.2% per annum to 481.7 kg, and the customs value decreased by 16.3% to $ 19.5 million. As a comparison, in 2015 the weight of imported gold declined more significantly by 98.2%, adequately to what significantly decreased customs value by 84%.

Armenia exports gold in general to Canada (99,9%). Gold is imported mainly from Switzerland (51.5%), AUE(44%) and Russia(4%).

By 2017, the value of gold in world markets can grow by $ 200 and reach $ 1,400 per troy ounce. The investment Bank of America gives this forecast. The strengthening of positions is attributed to the fact that the market is still in standby and will manifest itself in the most unexpected way: it will go up, CNBC reports. Gold was one of the first assets, where Donald Trump's victory in the US elections exerted pressure on prices. Since early 2017, the price of gold has grown by 5%. Analysts of the bank note that volatility complicates the forecasting of any expected returns. "Reducing the volatility of asset classes is particularly noticeable, some of the major political shifts that are currently taking place in the US and Europe", analysts at Bank of America said, adding that "the market so far ignores political mistakes and growing mistakes on the part of US, UK, As well as a series of political elections in the EU". The source notes that in early 2017 prices showed some growth, compensating the losses of the previous year. This growth trend will continue throughout the first half of 2017. Under the influence of fluctuations in the exchange rate of the US dollar.  In addition, the market shows some signs of increasing physical demand for gold in Asian markets. Against the backdrop of the possible geopolitical activity of the US and/or the European Union, gold in the coming year is likely to play the role of a reliable tool for investment again.