RESERVE GOLD SALE AS A GOOD BARGAIN
Support A1+!Why did the Investment Commission of Central Bank make a secret decision to sell the gold savings in the bank reserve? The public has learnt the bargain recently. CB Chair Tigran Sargssyan referred to this issue at today’s conference.
CB purchased more than 3 milliard drams after the sale of about 1,4 tons of gold in the bank reserve. It’s one of the ordinary bargains the local Authorities have assessed it playing into the hands of our state. Such an assessment was conditioned that it was envisaged to sell the gold the time price for gold in the world market reaches 380 $.
CB dealers managed to sell the gold by more than 400 $. As to the decision to sell the gold, CB leadership has decided not to accumulate gold in its reserve as a result of 1,5-year-long discussions.
”Amassing gold is a way to accumulate wealth. We are not in a condition to be occupied with attaining wealth since gold collecting is low profitable”, Tigran Sargssyan says.
Mr. Sargssyan also said a few more profitable bargains are planned. Euro Bank is going to open a branch in Armenia. Besides, it now holds studies to make solid investments in Armenia. It is envisaged to make those investments in energy sphere making about 100 million $ to build small and medium hydroelectric power stations.
By the way, CB Chair is not aware for what purposes Euro Bank project is implemented. Doesn’t it have a political context connected with pressure of the European structures – to cease the Nuclear Power Station of Armenia as a result of creating alternative sources?
