Wednesday, May 27 2020 17:01
Alina Hovhannisyan

Precious metals price growth accelerated in Armenia

Precious metals price growth accelerated in Armenia

ArmInfo. In Armenia, prices for precious metals have accelerated the growth rate - from 2.6% last week to 6.2% this week. Moreover, a significant acceleration in price  growth was observed for platinum and palladium, relatively moderate  for silver, against which the cost of gold remained almost unchanged.

According to the information of the State Depository of Precious  Metals and Gemstones Agency at the RA Ministry of Finance  from May  25 to May 31, 2020 established the following selling price for  precious metals: gram of gold (measured bullion) - 26943.24 AMD  (slowdown in weekly growth from 1.6% to 0.2%), silver - 267.02 AMD  (acceleration of weekly growth from 5.6% to 8.8%), platinum -  12,878.77 AMD (acceleration of weekly growth from 1.9% to 7.3%), and  palladium - 31155.83 AMD (acceleration of weekly growth from 1.3% to  8.5%).

According to international exchanges, May 27, 2020 at 3:33pm Moscow  time the spot price of a troy ounce of gold was $ 1700.2 (daily  decline by 0.16%), silver - $ 17.16 (daily decline by 0.23%),  platinum - $ 829 (without daily changes) and palladium - $ 2037  (daily decline by 0.15% ).

According to the portal Gold.ru, analysts at most banks still believe  that precious metals have great potential for further growth. The  fact is that their number cannot be increased in a few days, unlike  fiat money. Paper currencies are subject to gradual depreciation due  to the regular printing of new money by the central banks.

Analysts at JP Morgan Bank believe that in the coming years we will  see an increase in the risk of currency devaluation, which will be  accelerated by monetary and political measures to combat the spread  of COVID- 19. In this situation, gold will be the only winner.

They recommend that investors gradually build up their positions in  the yellow precious metal, using each correction for this. The cost  of gold is on the way to new records, which lie above the mark of $  1900 per ounce. In many world currencies, gold has already updated  its value record. Now investors are waiting for this to happen in US  currency. 

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000