Posts Tagged ‘Gold as an investment’

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. (more…)

He attributed the deputy governor of the Central Bank of the appearance of Mohammed Saleh reasons for the high price of gold on world markets to the economic crisis that swept Europe and America, which led to the devaluation of the dollar and the euro against other currencies. (more…)

Gold rose on Tuesday to its highest level in more than five months after weak data for the industrial sector around the world, boosting speculation procedures to facilitate the impending central banks.

Having kept Chairman Ben Bernanke Federal Reserve (the U.S. central bank) door open for further stimulus measures last week, data showed on Monday a contraction in manufacturing activity Globally, putting more pressure on policy makers to act. (more…)

18-07-2012 12:09 PM
Are free – The price of gold on Tuesday ahead of testimony Ben Bernacki Federal Reserve Chairman before the Us Congress, which is expected to give indications of the intentions of the Bank on the launch of further monetary stimulus measures. (more…)


A member of the Economic Committee MP for the coalition in Iraq Qusay Gomaa said Iraq will not be affected by fluctuations in the price of gold in international markets because it has large reserves of gold and jewelry.

He said Friday (the Agency news): that winning the gold price rise in global markets is the result of the economic crisis taking place in some of the world, which also led to increased food prices and commodities in general being affected with each other. (more…) – After more than a month of keeping the interbank exchange rate unchanged, the State Bank of Viet Nam yesterday raised the forex by VND10 to VND20,813 per dollar, its highest level this year.

The interbank dollar exchange rate has advanced VND185 per dollar, or 0.9 per cent, since September when the central bank committed to keeping the forex fluctuation under 1 per cent until the end of this year.

Following the move, Vietcombank yesterday also lifted the dollar exchange rates by VND8-10 over the previous day to VND21,015/21,019. Vietinbank quoted the greenback at VND21,018/21,021 while Eximbank and ACB figures were VND21,000/21,021. (more…)

On: Wed, 20/10/2011 9:11

Baghdad (news) .. economic analyst for the gentle Abdul Salim, the cause of fluctuation of gold prices in order to manipulate merchants prices and smuggling some of which, in addition to the difference in supply and demand associated with the stock exchange world.

The Abdul Salim in the statement (of the Agency news) on Thursday that the prices of gold linked to world prices, but there are some things that make a difference the speed of change, such as manipulation of traders and the smuggling of some types of gold, which affects the low and high oil prices, in addition to the issue of supply and continued demand it.

(more…) – Exchange rate pressures are returning with a vengeance from a number of directions to cloud the macroeconomic picture well into 2012, writes former IMF economist Dr. Pham Do Chi.

Under pressure from a great demand for USD, foreign exchange rates are now heading upwards after a few months of relative stability. Apart from the trade deficit and balance of payment issues, the substantial difference between the domestic gold price and the global gold price is another factor contributing to changes in foreign exchange rates.

At one time the difference was as much as VND4 million per tael, which drove speculators to purchase USD for illicit gold imports. A number of enterprises have also started to buy USD out of concern that the exchange rate will fluctuate at the end of the year, when demand for greenbacks throughout the economy generally increases as payments on USD loans become due.


Date: Mon 09/12/2011 13:59

Baghdad (news) / report / Hussein Faleh / .. most likely, economists low gold prices during the coming period, agreeing that the height of the existence of a close relationship and the inverse between gold and the dollar in the world, are excluded in the words of (the agency news) and the presence of smuggled outside Iraq, helped on the rise.

and likely economic expert Ghazi Kanani continued high price of gold as a result of economic crises that hit the world through the fluctuation of the dollar and the euro and use it as a reserve in the world’s central banks, as well as the growing demand for its use dark blue and the aesthetic and its entry in the electronic industries.


Gold shares may rise after the Swiss central bank set a minimum exchange rate for its currency, a rival to gold as an investor haven, Collins Stewart Plc said.

“The move effectively pegs the Swiss Franc against the euro and now removes one of gold’s competitors as a safe haven asset,” Collins Stewart said in a note today. “This further strengthens the buying case for gold and in particular gold equities that have underperformed the commodity in the last year,” it said, citing African Barrick Gold Plc and Centamin Egypt Ltd. (CEY) as the cheapest among U.K.-based gold miners.

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This past year has been marked by uncertainty and instability; what started off as a strong 2011, quickly turned into a wild ride for investors. As equities have been tossed back in forth in recent weeks, investors have their eyes fixed on major indexes and other indicators to judge the overall health of our economy.

Needless to say, with all of the turmoil, a number of asset classes have flown relatively under the radar, including currencies.

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August 22, 2011

Growing concerns about the global economy and the possibility of a new round of stimulus spending in the U.S. sent gold to a new record high just below $1900 per ounce. As of 10:37 AM Pacific Time, gold was trading at $1,891 per ounce on the New York Spot Market, up $37 per ounce, while silver was trading at $43.59, up $0.59.

JP Morgan Chase recently issued a forecast of $2,500 for gold prices before the end of 2011, saying “Before the downgrade, our view was that gold could average $1,800 per ounce by year end. This view will likely now prove to be too conservative: spot gold could drive to $2,500 per ounce or higher, albeit on very high volatility.”

08/19/2011 17:43

BAGHDAD / Aswat al-Iraq: rising gold prices in global markets to About 1850 dollars per ounce to lower demand in the local market in Iraq, according to workers in the formulation of gold.

He said a chapel, named Abu Anwar told the “Voices of Iraq,” The World gold prices “affect the moment by moment, and directly to local gold price, as the price changed several times per day depending on stock price movements follow through wholesale markets across the satellite channels that broadcast prices First first, “adding that” there is an equation known to jewelers to calculate the prices of World Gold dinar, as the recent rise of gold make the price of locally up to 278 000 dinars for the weight of 24 carat, which is one of the gold ore and is fit for the formulation, and gold top level of the formulation is the caliber 21 which went 24 plus a few additions and are calculated without the price of drafting, the wording added by the amount of which ranges between 15 to 20 thousand depending on the type and weight of the gold golden. ”

(more…) – Domestic gold prices surged to a new all-time high this week following a gaining streak in world prices. As gold exports remaining high and supply may go down, concerns have arisen over exchange rate instability and a hike in inflation.

At local gold shops, the precious metal traded at VND39.6 million (US$1,931) per tael late Tuesday afternoon, after world prices peaked at $1,605 per ounce. Domestic prices were recorded at VND39.57 million per tael Thursday morning. A tael is equal to 1.21 ounces.

World prices have surged since last week as debt worries in the US and Europe have intensified. Gold is considered a safe investment and usually gains at times of global economic uncertainty.


Analyst: Gold May Rise to $5,000 on Limited Supply

June 15, 2011

Standard Chartered Bank issued a comprehensive study this week entitled In Gold We Trust that examines supply/demand trends for gold. According to the bank, “limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to $5,000 per ounce.”


Most foreign exchange points in Ho Chi Minh City stopped transactions in US dollar on March 11, due to fear of inspections from relevant authorities leading customers completing transactions in banks.

Three days ago, foreign exchange points maintained normal operations while announcing trading at VND21.400 to US$1. They now refuse to buy the dollar and have stopped all dealings.

An employee at a gold shop said that since the authorities had been cracking down on foreign exchange traders for the last few days, gold shops dared not transact in dollars publicly any longer.

Many shops traded mainly in gold, especially gold jewellery and others suspended all foreign currency transactions.


Gold prices rose to near record levels on the New York Spot Market on Tuesday as unrest in Libya and concerns about inflation globally spurred demand for the metal as a “safe haven” asset. As of 9:45 AM Pacific Time, gold prices were up over $18 per ounce to $1,431. Silver prices also advanced to their highest level since 1980.