Russian war memorial in Poland reopens after renovationWorld June 22, 19:41
Le Bourget air show: Russia clinches contracts for military hardware deliveriesMilitary & Defense June 22, 19:28
Czech president supports idea of referendum on country’s withdrawal from EUWorld June 22, 18:57
Russian fans show fascinating hospitality at 2017 Confederations Cup — renowned pianistSport June 22, 18:32
First days of Soviet Union's Great Patriotic War in picturesSociety & Culture June 22, 18:10
Defense Ministry comments on upcoming Russia-China military exercisesMilitary & Defense June 22, 18:08
Death toll in Afghan terror attack climbs to 34World June 22, 18:04
Russian MP castigates Poland’s decision to demolish Red Army monuments as ‘blasphemous’Russian Politics & Diplomacy June 22, 17:46
Ex-Ukrainian president lambastes Europe for ‘brining Ukraine to its knees’World June 22, 17:12
ST. PETERSBURG, June 17. /TASS/. Metal prices are going to decline next month or two, Russian Industry and Trade Minister Denis Manturov told journalists on Friday on the sidelines of the St. Petersburg International Economic Forum (SPIEF 2016).
"Now the prices for metals have gone up again, but I think this is not long-term coming months. The next one or two will show a downward trend," he said.
Since mid-December 2015 the price of gold rose by 23%, silver rose in price by 27%, platinum - by 17%, aluminum - by 9%, copper - by 1.5%.
Growth of metal prices accelerated on investors' expectations after a later increase of the US Federal Reserve discount rate in 2016, was than previously expected. Against this backdrop the dollar fell, since the beginning of the year the dollar fell by 5%.
The US Federal Reserve System acting as the national central bank keeps the base interest rate at 0.25-0.5%.
The Federal Reserve increased the base interest rate by 0.25 percentage points to 0.25-0.5% in December 2015. The rate was within the range of 0-0.25% from December 2008 to December 2015.