GPM President forecasts stable demand for gold in world markets

GPM President forecasts stable demand for gold in world markets
July 6, 2011 - 17:00 AMT

PanARMENIAN.Net - GPM President Roman Khudoliy believes the demand for gold in world markets will keep stable.

“In world markets, gold is assessed as a reserve metal. Thus, the price for gold will remain high for as long as there are risks in world markets,” he told journalists on the sidelines of Albion new gold mining plant’s foundation-laying ceremony.

The new plant will be constructed in the territory of GPM Gold Ararat gold mining company.

GPM President forecasted no serious fluctuations of gold price in future. “The drop of price in one area of the world will be counterbalanced by current growth of gold price in the developing markets (China, Brazil, Vietnam),” he explained.

According to GPM President, the company has always enjoyed stable demand for its production.

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