Low gold price does not affect the reserves of the Iraq Central Bank

Posted: May 22, 2013 in Iraqi Dinar/Politics
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Prime Economic Media Center Dergham Mohammed Ali, the reasons for the decline in demand for gold buying locally to increase its price in the domestic market in spite of the low price in the global markets.

Unlikely affected by the low price on global central bank reserves of gold.

Muhammad Ali said that the lack of appetite for buying gold in the domestic market due to an increase in price and in an unprecedented way during the current period, indicating that the price decline in global markets is relative is the result of the dollar’s recovery and to financial speculation in global markets.

He added: gold fell appeal in international markets due to its high price during the past two years, but this does not mean to give it up as a safe haven it always remains a candidate to restore the global price.

He pointed out: that retain the Central Bank of Iraq in large quantities of gold, he said, similar to most of the world’s central banks to maintain the value of the national currency, stressing does not have fears of the impact of lower gold price in global markets on the reserve’s central bank, the fact that gold is a long-term investment and the current decline is I am not in the long term.


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