YEREVAN. – Rapid increase in gold prices is hindering jewelers, Yerevan Jewelry Factory Board of Directors and Association of Goldsmiths and Jewelers of Armenia Chairman Emil Grigorian told Armenian News-NEWS.am.    

In his words, rise in the price of gold has resulted in the fact that the middle class is not purchasing gold, in general, but instead the richer class is showing more interest toward gold. And the other hindering factor is the unstable exchange rates, which do not allow “correct regulation” of the financial flow.     

According to Emil Grigorian, Armenian jewelry is developing, nonetheless, but there are problems with respect to selling. “Production is our genetic attribute, but the salespersons’ genetic attribute has become lost. Now sales are done in another way. Now we need to find good salespersons,” Grigorian noted.