Friday, January 18 2019 20:30

ArmInfo.Prices for precious metals in Armenia rose by 2.6% this week, against a 2.5% rise a week earlier. 

The rise in prices was observed for all precious metals, but an  upward trend acceleration was observed only for palladium and  platinum.As the Ministry of Finance of the RA "Ministry of Finance"  Gokhran Precious Metals and Stones "told ArmInfo, from January 14 to  January 20, 2018 the following prices for precious metals were set:  gram of gold (ingots) - 20139.01 drams (weekly slowdown of growth  from 2.7% to 0.7%), silver - 244.93 drams (weekly slowdown of growth  from 5.8% to 1.3%), platinum - 12859.03 drams (weekly acceleration of  growth from 1.1% to 3.5%) , and palladium - 20639,57 drams (weekly  acceleration of growth from 0.4% to 4.9%).

Since the beginning of 2019, prices for precious metals increased by  5.1%. In particular, gold went up in price by 3.4%, silver - by 7.1%,  platinum - by 4.7% and palladium - by 5.2%.According to international  stock exchanges, January 18, 2019. at 17:34 Moscow time. The spot  price of troy ounces of gold was $ 1,282.4 (a daily increase of  0.01%), silver - $ 15.46 (a daily increase of 0.06%), platinum - $  808 (a daily decrease of 0.25%) and palladium - $ 1,379 (a daily  decrease of 2.68%).According to analysts of the World Gold Council  (WGC), in general, 2019 should be positive for gold. This is stated  on the site Gold.ru.  Analysts believe that in the current year,  financial markets will experience instability and increased risks.   High volatility in the stock market is forcing investors to look for  more predictable assets, one of which is the yellow precious metal. 

Even long-term US government bonds do not give investors any more  financial stability, which means they will look for an alternative to  them.Another supporting factor for the price of gold will be the  political situation in Europe. Europeans are actively buying  investment gold since 2016. This is due to the deterioration of  economic indicators in the European economy, which is more  susceptible to various shocks and risks compared to the United  States.One of the main problems of Europe is the possible exit of  Great Britain from the European Union. Another factor of instability  are the protests of "yellow vests" in France and the anti-European  government in Italy. All this makes European investors think about  preserving their capital with the help of gold.