NOBODY BUYS GOLD

A1+
[12:24 pm] 04 December, 2008

Gold prices have gone down again in Armenia due to world prices,
yet trade is still down.

A gram of gold costs 26.3 dollars, compared to 26.7 dollars a couple
of days ago. Businessmen believe the drop in oil prices determines
the drop in gold prices. is due to the drop in fuel prices.

"Gold prices go up and down, just like oil prices. It has gone down
much. Before a gram of gold cost 33 dollars," told "A1+" goldsmith
Arshak. The price for average gold is 18.5 dollars.

There were many gold buyers at the gold market located on Khorenatsi
Street when paid a visit. Most of the visitors were simply checking
out the gold pavilions and traders explain that the passivity is due
to the fact that the holidays are on the way.

"There is a lot of trade these past two days, but until then there
was no trade anywhere," said seller Anna. Her colleague Elya said
that gold is currently not in demand and it is due to the global
financial crisis.

"Fifty percent of gold stores close in the U.S. Armenian consumers
are mainly tourists. On the one hand, you have the crisis and on the
other hand, the gold market was dead after the events of March 1 and
there were no tourists coming to Armenia."

The gold traders also complained about the installation of
cashiers. They don’t think that it makes any sense and say that
traders can simply hide the taxes that he has to pay.

From: Emil Lazarian | Ararat NewsPress