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  • Gold Price Goes Up

    GOLD PRICE GOES UP

    A1+
    07 January, 2008

    Today gold is sold at $20-22 per a gramme at Armenian
    markets. Tradespeople explain the stiff prices with the recent increase
    of oil prices and dollar devaluation.

    "It is two days gold prices have gone up from $18 to $22. The rise
    was a real shock for us," people say.

    Economist Edward Aghajanov says gold prices have marked up because
    of dollar devaluation.

    "The recent rise in oil price hardly affects gold prices. The rise
    is rather determined by dollar depreciation than by oil price. Gold
    prices and dollar rate are interrelated: when the dollar shoots up
    gold price goes down," he says.

    Edward Aghajanov ruled out further rise in gold prices in Armenia.
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