YEREVAN, October 29. /ARKA/. Last week quotes for precious assets, including gold, significantly slashed amid the U.S. strengthening. As a result, gold quotes reached a new seven-week minimum of 1,698.81 USD per troy ounce.

The new concerns about the situation in Spain and Greece, as well as weak economic data of Germany  forced the investors to buy the U.S. currency, as an asylum currency.
Prospects for the growth of the fourth largest economy of the eurozone and its financial situation came to the limelight after the Spanish regulator informed the recession in the third quarter may get even worse. In addition, Moody’s downgraded Catalonia and four other regions of Spain, discouraging the investors. The report presented by the three largest international creditors didn’t cast any optimism on the matter, as it stated that Greece would need additional 30 billion euros by the end of 2016 to offset the deeper than projected recession, and budget goals implementation deferred for 2 years.

Nevertheless, gold quotes attempted to rise last mid-week as the U.S. Federal Reserve  released a statement on monetary-credit policy, which met investors’ expectations. Eleven out of twelve Federal Reserve directors voted for sustaining stimuli measures to accelerate labor market rally. The falling USD and careful purchases at low prices have also fostered climb in gold quotes.

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Early last week gold prices were teetering amid the investors’ concerns about a regular session of the European Central Bank, as well as data from the U.S. labor market.

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Metals markets: gold and copper traded up and down last week against the backdrop of eurozone concerns.

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YEREVAN, May 21. /ARKA/. Gold prices took a sharp dive in the beginning of last week after another attempt to form a coalition government in Greece failed prompting investors to be cautious and refrain from buying gold. New shocks at lending markets in European periphery drove gold prices down as well. Indeed, yield of Spain’s […]

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The results of elections in France and Greece pushed gold prices to go down last week. The constituents of these countries voted against austerity measures

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On Tuesday, May 1, during the Asian trading session precious assets’ quotes were tumbling due to small number of trades caused by the closed markets on holidays.

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Quotes for precious metals were under the pressure last week. Prices for gold lowered due to U.S. dollar’s strengthening and growing concerns on the situations at European credit markets.

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Last week, gold made an attempt to reverse the downtrend on hopes of a soft monetary policy of the U.S. Federal Reserve

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Precious metals prices go down in Armenia.

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Quotes for precious metals reported rise on the first day of the trading week. Gold prices climbed 1.37% to 1,652.39 USD per troy ounce after U.S. published unfavorable macroeconomic data on Friday and due to sustainable rate of the main currency pair in FOREX international currency market.

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