“Gold price is 70-80% up comparing to January-February", Eter Kipiani, director of Gold Market at Tbilisi Central told BM.GE. As Kipiani says, demand has decreased along with the price increase and retailers’ incomes have halved.
"The borders are closed and gold import/export has become more difficult. However, when larger volume of gold enters the local market, prices become cheaper, but in the case of little capacity, you are more careful and sell it at a higher price. Prices have probably increased by 70-80% comparing to January-February. Weddings, birthdays are forbidden, people no longer have money, therefore there is no room for gold, so trade is very weak," said Eter Kipiani, director of Gold Market.
