ArmInfo. The precious metals in Armenia keep rising in price. Over the current week, the growth made up 5.6% (versus 2.9% rise last week) due to over 6% growth in
the prices of gold, silver and platinum, the Armenian State Depository of Precious Metals and Precious Stones of the Armenian Ministry of Finance told ArmInfo.
According to the source, the following prices have been fixed for the precious stones for February 15-21: gold (small gold bullions) - 19236.82 AMD per 1g (6.5% growth over week), silver - 244.55 AMD, (6.1% growth over week), platinum - 14861.66 AMD (up 6.7% over week), and palladium - 8214.59 AMD (up 2.9% over week).
According to the data of international stock exchanges, as of 18 Feb 2016, 11:46 Moscow time, the spot price of 1 troy ounce of gold made up $1207.6, silver - $15.33, platinum - $945 and palladium - $514.
Russian analysts think the gold and silver markets experience the positive effects of several factors. First, the US Federal Reserve System decided to raise the interest rates and triggered the investors' interest in metals again. The growth in the interest rates maydepreciate the US dollar and maintain the growth in the gold prices. Second, the central banks keep purchasing gold. Third, the demand for bullions and coins is growing. Experts think gold and silver prices may rise by late 2016.