Gold Value Exceeded $ 1,700 per Troy Ounce for the First Time since 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.