ARMENIA’S JEWELRY INDUSTRY NEEDS TO PURCHASE GOLD FUTURES
news.am
December 07, 2012 | 23:59
The director of the Association of Jewelers and Gold Entrepreneurs of
Armenia, Director of “Yerevan Jewelry Plant” Emil Grigoryan expressed
an opinion that Armenia’s jewelry industry needs to purchase gold
futures contracts, due to the small volume of batches and the
volatility of the local market demand. Futures contracts will help
to purchase gold at a predictable price.
Note that in 2011 the production of the jewelry industry in Armenia
totaled AMD 12.38 billion, up to 13% more than in 2010. Jewelry exports
from Armenia in the same year amounted to $ 12,256,000, which is 11%
lower than in 2010. Export destinations were Russia, Turkmenistan,
Kazakhstan, USA, UAE and other countries.
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