Gold rises in price and demand for gold products drops in Georgia

Business Materials 20 July 2011 17:33 (UTC +04:00)

Georgia, Tbilisi, July 20 / Trend, N. Kirtskhalia /

After the record rise in world prices gold has risen in price also in Georgia. In particular, prices rose by two lari ($ 1 = 1.67 lari).

Dealers of the largest jewelry fair in Tbilisi "Gold Exchange" say the price increases, but it is always three dollars below market prices. However, despite this, the current price for gold in Georgia is at the record high level.

"Compared to last year the gold price increased by five percent. And last time prices rose in price two days ago. This is the result of higher prices on the world market and, presumably, the gold will further go up. If last year the gram of gold amounted to 40 lari, now it is 47 lari," Gold Exchange" dealer Mari Archemashvili told Radio "Kommersant".

Demand for gold products drops due to rise in gold prices.