YEREVAN, May 29. /ARKA/. Gold prices saw upturn last week due to stabilization of sentiments at commodity assets market. The relative stabilization in sentiments was touched off by the G8 summit held last weekend. In spite of the fact that the G8 countries didn’t manage to agree on measures to counter the debt crisis in the euro zone, they all expressed the willingness to see Greece within the euro zone. Moreover, the leaders released a statement related to undertaking measures to enhance the economy.

However, from May 22, Tuesday, to this mid-week the sentiments of the market members deteriorated again inciting the yellow metal’s sales. This negative aspect was prompted by the concerns around perspectives of Greece to stay within the euro zone and possible consequences if the country exists the currency bloc. The unexpected statement made by Greece’s former prime-minister that his state is getting ready to leave the euro zone just aggravated nervousness in the markets. The results of the non-official EU states summit didn’t bring any optimism either.
Nevertheless, quotes for gold managed to recover the losses partially later last week, due to some optimistic U.S. economic data and rise at the European markets. The stabilization of the principal currency pair has also limited demand for dollar as a currency-asylum. The fact that the central banks of a number of states continued increasing gold reserves in April and May has also improved the sentiments of the investors.

As a result, gold prices dropped by 1.94 % to 1,562.13 USD per troy ounce.

Categories: Analytics, News | Comments Off on Metal market: Uncertainty around Greece continues pressuring prices for precious metals

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The ongoing Greek crisis pushed the euro Wednesday to its weakest levels against the dollar since August 2010. The single currency fell to as low as $1.2615 against the dollar in mid-morning European

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The US Dollar’s value at trading today at Nasdaq OMX Armenia stock exchange has risen by 2.45 drams to record high 401.95 drams. An analyst for FOREX CLUB

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Armenian commercial banks bought more than $75.2 million at the local forex market over a period between May 14 and 19 at the average exchange rate of 395.39 drams per one USD

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If Greece’s next set of elections produces a government opposed to its bailout, this could lead to a parallel currency to the euro emerging in the country, rather than a formal

Categories: Exchange market, General news, News | Comments Off on Parallel currency could emerge in Greece- Deutsche Bank says

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Last week the cost of USD at NASDAQ OMX Armenia stock exchange grew by 1.28% to 399.50 drams as overall weekly trading amounted to $17.0 million, a 52.84% increase over the previous week.

Categories: Analytics, Exchange market, News | Comments Off on Armenia: Forex review for May 14-18

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The total amount of transactions in USD at Nasdaq OMX Armenia stock exchange in April amounted to $50.8 million or 19.9 billion Armenian Drams

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Last week, the average exchange rate of U.S. dollar at NASDAQ OMX Armenia stock exchange rose by 0.09% to 392.35 drams with overall trading amounting to 3.85 million U.S. dollars

Categories: Analytics, Exchange market, News | Comments Off on Armenia: Forex market review for May 2 - 4

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Armenian banks gained nearly $83.9 million at 391.84 drams per $1 average weighted rate last week (23-28 April) at intra-bank market of foreign currency, Armenia’s Central Bank reports ARKA

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YEREVAN, May 2. /ARKA/. Last week, the U.S. dollar’s average exchange rate at NASDAQ OMX Armenia stock exchange dropped by 0.08% to 392.00 drams. The weekly trading amounted to 13.235 million U.S. dollars, which was 0.04 % less compared to the week earlier. The average selling rate of cash dollar lost 0.04% and on Sunday, […]

Categories: Analytics, Exchange market, News | Comments Off on Armenia: Forex market review for April 23-28

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