RIGA - The jewelry business experienced one of the biggest challenges in recent years – together with the economic downturn, the price of gold is at its highest level, in nominal terms, in history. The jewelry business in Latvia consists of those who import goods, and of local producers, who import materials for their products. Both are influenced by the high price of gold. Increases in the gold price, and also of precious stones, resulted in a 30-50 percent increase in the price of products in the jewelry shops, compared to 2008.“It’s logical that if the price...
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