Saturday, July 8 2017 12:48
Alina Hovhannisyan

Metals become cheaper for third week in Armenia

Metals become cheaper for third week in Armenia

ArmInfo. The decline in prices  for precious metals in Armenia continues for the third week in a row.  So, this week, precious metals fell by 0.7%, after a decline of 1.4%  a week earlier. And, from precious metals only silver changed the  descending trend to ascending trend, while gold and platinum slowed  down, and palladium, on the contrary, began to lose in price faster.

The following selling prices for precious metals were established  from July 3 to July 9, 2017: gold gram (measured ingots) - 19247.63  AMD (slowing down of the weekly decline from 1.4% to 0.2%), silver -  257.05 AMD (change of weekly dynamics from 2.5% decline to 0.4%  growth), platinum - 14193.08 AMD (slowing down the weekly decline  from 1.2% up to 0.6%) and palladium - 13227.34 AMD (acceleration of  the weekly decline from 0.7% 2.4%).

According to international exchanges, July 8, 2017 at 00:00 Moscow  time, the spot price of the troy ounce of gold was $ 1213.2 (daily  decline of 0.04%), silver - $ 15.67 (daily decline of 0.19%),  platinum - $ 911 (daily growth of 0.11%), and palladium - $ 844.

Analysts of the investment bank Bank of America Merril Lynch once  again confirmed their forecast for gold prices. In their opinion, the  value of gold in the second half of 2017 will be $ 1,400 per ounce,  and the Fed's monetary policy will not be as stiff as expected.  Forecasts of Bank of America differ from other banks, as they  contradict the general trend, but they often turn out to be accurate.  "Our forecast is based on the fact that the world will continue to  grow, and this in turn will lead to high volatility of many assets.  We also believe that with lower inflation, the Fed will be more  difficult to justify the policy of raising interest rates," the  report of the US bank says. Another important argument in favor of  gold is the fact that many investors are too presumptuous about the  risks in the financial markets. "In general, we believe that there  are several different alternatives to protect your investment  portfolio from political risks and a sharp change in priorities from  investors. Large investors can start increasing their positions in  gold at any time," the bank noted.


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