ArmInfo. Upward trend of the prices of previous metals in Armenia has been observed since February 2016 - by 2.9% for the current week (as against 3% growth last week). What sparked such trend was the silver price hike by 3.9% amid continuously growing gold price, slightly slackening prices of platinum and changing price of palladium, State Treasure of Precious Metals and Stones of the Armenian Finance Ministry told ArmInfo.
According to the source, the following selling prices of precious metals were established for February 8-14: gold (bullions) - 18054.61 drams/gram (up 3.2% vs. 2.7% growth for the previous week); silver - 230.56 drams/gram (up 3.9% vs. 1.6% growth for the previous week), platinum - 13927.28 drams/gram (slackening to 2.1% vs. 6.2% growth for the previous week); palladium - 7983.13 drams/gram (up 2.4% vs. 1% growth for the previous week).
According to data of international exchanges, as of 12.43pm Moscow time on Feb 11 2016, the spot price of the troy ounce of gold amounted to US$1217.5 (down 0.06% within 24 hours), silver - US$15.57 (no changes within 24 hours), platinum - US$945 (no changes) and
palladium - US$526 (down 0.19% within 24 hours). Analysts of many international banks anticipate downward trends of the gold price, as, among others, the interest rate of the Federal Reserve System is supposed to grow. Many experts insist that the gold price will
increase in 2016, as, among others, the US dollar will depreciate. The instable macroeconomic situation in the world, the external debts of European countries will inevitably lead to increase of the gold price in 2016, some other experts say. However, all the experts agree that the highest price of gold will be in Jan-Mar 2016, and the lowest in Jul-Aug 2016.