ArmInfo. After a long rally, gold prices in Armenia began to decline. At the same time, the cost of other precious metals decreased. In particular, this week prices for precious metals demonstrated a downtrend, showing a decline of 4% against growth of 2% a week earlier. According to the "Protection of Precious Metals and Gemstones" information of the RA Ministry of Finance, from April 27 to May 3, 2020, the agency set the following selling prices for precious metals: gram of gold (measured bullion) - 26295.51 drams (change in weekly dynamics from 2.2% growth by 1.5% decline), silver - 233.12 drams (change of weekly dynamics from 2% growth by 2.9% decline), platinum - 11 742.32 drams (change of weekly dynamics from 3.9 % growth by 3% decline), and palladium - 31144.97 drams (acceleration of the weekly decline from 0.3% to 8.4%).
According to international exchanges, as of April 30, 2020 at 00: 01 Moscow time the spot price of a troy ounce of gold was $ 1717.5 (daily increase by 0.03%), silver - $ 15.62 (daily increase by 0.06%), platinum - $ 786 (daily decline by 0.13%) and palladium - $ 2076 (daily increase) . This year can bring a good return to many participants in the gold market. This will be facilitated by several important factors. This was reported by the portal Gold.ru In particular, one of these factors is the aggressive monetary policy of some Central banks, which may lead to the devaluation of national currencies. For example, most recently, the price of gold in European currency set a new record, reaching the mark of 1,600 euros per ounce, which has never happened before. This indicates the destruction of the European currency in relation to the yellow precious metal. This year, there is a significant influx of funds into the "gold" ETF funds, the shares of which are provided with physical precious metals. This factor is one of the most important for gold pricing. According to experts, the gold market will receive support for growth until the end of this year, including from the situation with ETF funds. But investors in gold should be well aware that from time to time there will be corrections in the market, but this will happen against the backdrop of an uptrend. Long-term investors need not be afraid of anything. The situation will develop in their favor.
