Wednesday, November 16 2011 17:37
Expert from London forecasts stabilization of international prices of precious metals
ArmInfo. Within the short-term outlook, the international prices of precious metals will be stabilized and remain at the current level, particularly, the price per ounce of gold will make up $1600-1700, and silver - $32-34, Robert Tateossian, a British businessman of Armenian origin, said at today's press conference in Yerevan when replying to an ArmIndo correspondent's question.
He pointed out that in 2011 the international prices of precious metals demonstrated constant fluctuations ranging from $1200 to 1600 per ounce, and later - from $1900 to 1600. According to Tateossian, the reasons of that were the speculative factors, including those by the Chinese market of precious metals. China has already stopped speculating, therefore, Tateossian thinks that the prices in the market of precious metals will shortly be stabilized.
World-renowned as the King of Cufflinks, Tateossian said that he has come to Armenia to found his own business here. On November 17 he will open the first boutique of Tateossian brand in Yerevan. Later he is going to found a jewelry enterprise in Armenia and export the products to different countries, including Japan and the U.S. First of all, he needs to study the market to understand its strong and weak sides.
And if the enterprise is created, it will be possible to use the centuries-old Armenian jewelry traditions on the one hand and the Armenian symbols on the other hand. In any case, Tateossian's design is simple and clear. The businessman said that if he works at some ethnic element, he will try to bring it in compliance with Tateossian style. When speaking of the price policy of Tateossian boutiques, he assured that the prices in the new shop in Yerevan will be affordable for a wide layer of population - the prices will range from $100 to $10000.
When telling the history of his activities in the precious metals market, Tateossian said that his first place of work was the Merrill Lynch Bank. Seven years later he decided to change the sphere of his activity. He himself wanted to become a boss and he knew that he would never be a boss in the banking sphere. He wanted to travel and enter the world of fashion and design. He had only three years to do that and if he achieved nothing by his age of 30, he would go back to the bank. Tateossian realized that there is a vacant niche in the segment of production of cufflinks and decided to fill it. Within the frames of his visit to Armenia, Tateossian is also going to meet with the officials of Armenia.
To note, setting up offices in London and a workshop in Birmingham, Robert Tateossian started creating whimsical and unique styles of cufflinks for discerning businessmen. He has far outgrown his original creation having expanded his brand to cover a wide range of accessories from watches to money clips, rings and necklaces using innovative and striking materials such as leather, 18-carat gold and silver. Now the Tateossian brand includes a complete range of women's jewelry that is an international statement of fashion and style using such innovative and luxurious materials as fiber optic glass, semi-precious gems, miniature fresh water pearls and precious metals.
Armenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction Restrictions
The sale of HSBC Bank Armenia to Ardshinbank to be completed on November 29, 2024
Armenian government approves 2024-2040 demographic strategy 
Armenia`s economy and state competing for sooner collapse - ex-official