ArmInfo.The prices of precious metals registered growth after decline in Armenia. So, in the current week, prices for precious metals increased on average by 2.6% against the 1.5% decline in the previous week.
According to the information of State Treasure of Precious Metals and Stones of the Armenian Finance Ministry, the agency set the following selling prices for precious metals from May 18 to 24, 2020: gram of gold (measured bullion) - 26877.86 drams (acceleration of weekly growth from 0.8% to 1.6%), silver - 245.41 drams (change in weekly dynamics from 0.4% decline to 5.6% growth), platinum - 12002.09 drams (change in weekly dynamics from 0.7% decline to 1.9% growth), and palladium - 28712.33 drams (change in weekly dynamics from 5.5% decline to 1.3%).
According to international exchanges, as of May 20, 2020 at 2:43pm Moscow time the spot price of a troy ounce of gold was $ 1750.9 (daily increase by 0.02%), silver - $ 17.54 (no daily change), platinum - $ 846 (daily decline by 0.12%) and palladium - $ 2187 (daily increase by 0.09%).
The price of gold pleases investors almost from the very beginning of the current 2020. Analysts believe that by the end of this year it can overcome the mark of $ 1900 per ounce. This was reported by the portal Gold.ru, citing CNN Business. Now the precious metal is trading at $ 1,750 - this is very close to the 8-year high.
<If the situation in the world remains unchanged, then gold will receive support for further growth. This is due to the fact that the yellow metal is considered as a protective asset in times of crisis to preserve savings>, - say analysts from the investment company Acadian Asset Management.
In their opinion, in the current situation, gold is one of the best assets for preserving savings, as uncertainty and crisis phenomena of various levels are growing in the world. Moreover, the yield on 10-year US government bonds is at 0.7% .
