Friday, August 25 2017 19:45
Alina Hovhannisyan

TA RA: The gold export from Armenia increased by 53% per annum in the first half of 2017, while the customs value of precious metal increased by 42.7%

TA RA: The gold export from Armenia increased by 53% per annum in the first half of 2017, while the customs value of precious metal increased by 42.7%

ArmInfo. From Armenia, in the first half of 2017, 2242.2 kg of gold (including galvanic spraying) were exported, against 1,465.6 kg a year earlier. According to the report of the RA Customs Service, in fact, in terms of weight, gold exports increased by 53%, against the growth of 4.3% a year earlier.

The customs value of exported gold in the first half of 2017 restored the growth rate of 2015, in particular, the annual growth was 42.7% - to $ 75.6 million, against the 8% growth a year earlier, and 42% growth for the same period in 2015.

At the same time, in the first half of 2017 the weight of imported gold increased significantly - 5.7 times to 119.4 kg, the customs value increased 5.6 times to $ 4.7 million. As a comparison, in the first half of 2016 The weight of imported gold decreased by 27% per annum, in parallel with the decrease in customs value by 25.3%.

During the reporting period, Armenia exported gold in full in Switzerland. Imports fell on Switzerland (57%), the United Arab Emirates (39%) and the Russian Federation (4%).

According to experts, in 2017 volatility of quotations will continue Of gold. The instability associated with the policy of Donald Trump, The exit of Britain from the EU and the slowing of China's economy will have an impact on the dynamics of prices for precious metals. In addition, much will depend on the rate of increase in the rate of the Fed. In 2017, a high degree of uncertainty will remain, due to various political and economic challenges. As a result, precious metals quotations will receive a significant growth driver, which is reflected in the optimistic forecast of gold prices for 2017.

First of all, instability is connected with the consequences of Brexit and the "divorce" process between the UK and the European Union. In addition, the unexpected victory of Donald Trump will make US policy less predictable. Trade wars and a painful issue with migrants testify to the forthcoming large-scale changes in American foreign policy. Also, experts allow the expansion of budget incentives, which will lead to an acceleration in the rate of inflation. As a result, the demand for gold will show a positive trend. Another factor of uncertainty is local conflicts and crises, which lead to an increase in geopolitical tensions. The development of the conflict in Syria and the prolonged settlement of the Ukrainian crisis will increase the prices of precious metals. In such circumstances, the value of gold has good prospects for further growth.  As a result, gold quotes in the current year will increase to $ 1,350-1400 / ounce. However, the tightening of the monetary policy of the Fed may prevent the increase in gold prices. Also much will depend on demand indicators. The industrial demand for gold remains tied to the dynamics of the global economy.  Pessimistic forecasts of experts suggest a prolonged stagnation of industrial production, which will be associated with the economic difficulties of China and Europe. At the same time, the impact of investment demand on price changes will remain limited. In such circumstances, the cost of an ounce will not exceed the range of $ 1200-1300, experts say. As a result, the dynamics of gold will significantly lose the corresponding indicators of silver.


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