27.01.2010
Chairman of the Central Bank of Armenia Arthur Javadyan answers questions on-line conference on the site armbanks.am
1. Do you recognize the erroneous transaction of selling the Central Bank’s bank gold, constituting the gold reserves of Armenia in the amount of approximately 1.5 tonnes and costs just over $ 380 per troy ounce, done at the end of 2003? Is the Central Bank of Armenia still holding the view that there is no need to buy gold to replenish their reserves?
A. Javadyan: The transaction in 2003 was a success because it was profitable, and should be judged on results of that time. In general, it is extremely difficult to make predictions about the behavior of gold. Gold is one of the items most prone to frequent fluctuations in the commodity market, which involves the formation of high profitability or losses on the basis of its review.
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