Report says Armenia offloads its gold reserves

The Central Bank of Armenia has sold the country's gold reserves of about 1.4 tonnes, a report said quoting the Bank.

Details of the deal, which took place and the end of last year, are not being disclosed the Interfax report said.

The Central Bank of Armenia's board decided to sell the reserves because of the high liquidity on the gold market over the past few years, the Bank's press service reported according to Interfax.

"The high correlation between gold and the euro means that even without