ArmInfo.Precious metals in Armenia continue to get cheaper, while gold prices managed to break the bullish trend. So, this week, prices for precious metals have accelerated the pace of the weekly decline from 0.7% to 1.5%.
According to the information of the " Precious Metals and Precious Stones State Depository of the RA Ministry of Finance, from May 11 to 17, 2020, the agency set the following selling prices for precious metals: gram of gold (measured bullion) - 26442.09 drams (change in weekly dynamics from 0.3% decline by 0.8% growth), silver - 232.37 drams (change of weekly dynamics from 0.1% growth by 0.4% decline), platinum - 11 778.40 drams (change of weekly dynamics from 1% growth to 0.7% decline), and palladium - 28334.96 drams (acceleration of the weekly decline from 3.7% to 5.5%).
According to international exchanges, as of May 12, 2020 at 3: 47pm Moscow time the spot price of a troy ounce of gold was $ 1705.1 (daily increase by 0.02%), silver - $ 15.58 (no daily change), platinum - $ 778 (daily increase by 0.13%) and palladium - $ 1961 (daily increase by 0.41%)
According to Standard Chartered, an investment bank, it is unlikely that, under current conditions, Central banks will begin to sell gold from the reserves of their countries. There is a high risk that after the removal of quarantine in many countries of the world, a recession will begin, and gold in reserves allows you to stabilize the economy of the state. This was reported by the portal Gold.ru.
, this is the opinion of analysts. The bank is optimistic about the future prospects of yellow precious metals, as the gold market will receive support from many factors. First of all, from the negative statistics that will come from different countries. The world economy is going through hard times. Under these conditions, protective assets will be in high demand from investors of various levels.
