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.