Gold price rise stems from global processes - economists 

ArmInfo.  Gold prices have risen significantly in Armenia recently.

Armenian experts believe this increase is due to the global rise in  the precious metal. In the middle of this year, the global market set  a new record, with the price of a troy ounce reaching over $3,500.  This led to a rise in prices in the domestic market, which in turn  led to a decline in sales, despite gold always being considered a  stable asset.

As economist Suren Parsyan noted in an interview with ArmInfo, the  economic wars waged by the administration of US President Donald  Trump have sharply increased demand for gold. The American leader  imposed high customs duties on a number of countries, leading to  significant uncertainty. China and India, for example, have begun  converting their assets into gold amid the tariff war with the US,  placing additional strain on the market. The sanctions imposed by the  West on Russia, including those targeting Russian gold, also played a  significant role. Russia began exporting it through third countries,  including Armenia. Information technology was another factor driving  gold prices. In particular, the production of microchips requires a  significant amount of gold. All of these factors led to the rise in  gold prices. The economist believes that gold is primarily held by  wealthy individuals in the country, who see it as a "safe haven" for  their capital, despite certain risks associated with rising or  falling prices. In any case, Parsyan pointed to the alternative of  buying company shares or government treasury bonds.

Speaking about the possible long-term impact of the Amulsar gold mine  on the gold market, the economist noted that any impact would be very  limited. The mine intends to export $700 million worth of gold, which  precludes any significant impact on the market.

In turn, economist Aghasi Tavadyan, founder of the data processing  company Tvyal.com, speaking about the impact of rising prices on  financial markets, noted its insignificant impact. According to him,  the price of commodities in terms of gold remains stable. For  example, the price of real estate denominated in gold has not changed  significantly and will remain unchanged in the long term.

It is worth noting that, according to industry professionals  interviewed by ArmInfo, sharp fluctuations in gold prices have been  observed on the Armenian market for the first time in many years over  the past three days. Three days ago, the price of 1 gram of gold was  $128, after which it sharply increased to $140. Such a significant  increase in a short period has never been observed before.