OREANDA-NEWS.The price of gold rose by 1.9%, reaching $ 1,704.3 per troy ounce, according to trading data. The last time the precious metal cost was at this level in December 2012.

As of 12:45 Moscow time, quotes for gold prices have moved to a decline. Precious metal traded at $ 1,663.5 per troy ounce, which is 0.5% lower than the previous close. In turn, the shares of the largest Russian gold mining company, Polyus, are growing on Monday by 0.5%, Polymetal's shares are falling by 1.9%, Petropavlovsk - by 4.8%, according to the trading data of the London Stock Exchange.

According to Maxim Khudalov, senior director and head of the ACRA sustainable development risk assessment group, the shares of Russian gold miners are falling on emotions, but will continue to grow soon. In general, shares of gold mining companies may rise amid a collapse in oil prices, since the price of gold is unlikely to decline, analysts say.