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  • The Week Ahead: Gold prices are trading low

    The Week Ahead: Gold prices are trading low

    The Week Ahead: Gold prices are trading low

    Gold thrives in times of turmoil. The stock market’s recent highs, the job market’s slow improvement, and increasing consumer confidence do not make for the chaos that benefits gold. When the economy swoons, that’s when gold booms. But gold prices are near two-and-a-half-year lows as a new week of trading begins.

    Six weeks ago, the price of an ounce of gold fell $225 in two days. That 14 percent drop was a stark reminder to gold investors that nothing is without risk, even one of the world’s oldest and most treasured assets. After rebounding a little, gold is whipsawing investors who had turned to it for protection.

    For the better part of a decade, it was difficult not to make money owning gold. The precious metal had climbed from $350 in 2003 to $1,800 an ounce last fall. The threat of global terrorism, the Great Recession, and massive government and central bank spending has underpinned the demand for gold from investors. Anxiety about inflation and government budget deficits has led to billions of dollars pouring into gold.

    The investment industry also has helped. No longer do you have to buy bullion or even coins. Gold investing has expanded way beyond miners and numismatists. Exchange-traded funds, sector funds and specialized mutual funds have been created to make it easier to buy gold, opening the door to less-sophisticated investors.

    All the worries that helped fuel the gold rally remain. But just as pure gold is pliable, so too is the sentiment of its investors.

  • 10 reasons why gold prices may hit Rs. 21000

    10 reasons why gold prices may hit Rs. 21000

    10 reasons why gold prices may hit Rs. 21000

    Gold prices (in dollars) are down 20 per cent in 2013. Spot gold is currently trading at $1,391.30 an ounce. In India, gold futures for May delivery dipped below Rs. 26,000 per 10 gram mark earlier this week. Global investment bank Credit Suisse says “the sell-off could have further to run.” If we were to pick an “ideal” ultimate target for the sell-off though, it would be $1085 (or Rs. 21,000 per 10 gram), Credit Suisse says.

    Here are 10 reasons why gold prices may fall further:

    1- Gold expensive over the long term: In real terms (dollars adjusted for inflation), the average price of gold over the very long run (150 years) is around $520 an ounce against $1,391 an ounce currently, Credit Suisse says. Clearly, gold continues to be expensive over the long term average despite the sharp correction this year.

    2- Gold expensive against other commodities: Gold remains expensive when valued against hard assets, such as base metals and U.S. real estate, as well as against other investment classes such as US equities, Credit Suisse says.

    3- Global stock markets are at record highs. Besides, equities offer some dividend yield as well, which means the opportunity cost of holding gold has become too much to bear for many investors, Credit Suisse argues.

    4- Inflation no more a risk: Investors buy gold to hedge against inflation. However, policymakers in the developed world have failed to generate even moderate 2-2.5 per cent inflation, Credit Suisse says. So, gold as an inflation hedge is losing its charm as the prospects of a sharp move in prices remains remote. (Also read: Why 2013 may not be the year of gold)

    5- No imminent collapse of financial markets: The European Central Bank’s commitment to preserve the euro and the determination of other leading central banks to underwrite risk and the recapitalization of financial institutions means reduced risk and thus reduced demand for insurance in the form of gold, Credit Suisse says.

    6- No threat to dollar: There have been numerous stories about the potential outbreak of “currency wars” amongst the major industrialized economies leading to forex instability. However, if everyone eases together, it will in theory not impact cross rates, Credit Suisse argues.

    7- QE coming to an end: The U.S. Federal Reserve has been printing money to shore up the U.S. economy. This liquidity has been driving up asset prices including gold. Credit Suisse says at least 435 tonnes of gold could be liquidated once the Fed withdraws quantitative easing, thereby putting further pressure on gold prices.

    8- Central banks are not buying gold despite falling prices and any intervention by them to support prices looks unlikely, Credit Suisse says.

    9- No support to gold prices from high production costs: While cost inflation across the gold mining sector has been high, the marginal cost (the change in total cost that comes from producing one additional item) is unlikely to provide support to gold price in the short to medium term, Credit Suisse says.

    10- Gold in bear territory: Going by the past trends, a 60 per cent retracement of the 2005 to September 2011 rally over the two and a half years would take gold back to around $1,000 an ounce (nominal) by the end of March 2014, Credit Suisse says.

  • Limited Gains In UAE Gold Prices

    Limited Gains In UAE Gold Prices

    Limited gains in gold prices

    Gold prices in UAE today recorded a limited rise in the price of a gram of between 0.50 to 0.75 fils Compared to gold prices last week, according to the price of gold declared on the Dubai Stock Exchange and the Dubai gold market and Zayed City Market for gold in the capital Abu Dhabi

    The officials outlets confirmed gold sales in Dubai said the vagaries of low gold prices during the month contributed to the support, where sales increased appetite for buying gold bullion.

    The price of gold grams (24) Karat 168 dirhams, an increase of AED for the end of the previous week, while the price of Gram (22) Karat ‬ 158.75 dirhams, an increase of 75 fils.

    And the price of a gram (21) Karat 150 dirhams, an increase of 75 fils, while the price of Gram (18) Karat 128.75 dirhams, down amounted to 75 fils.

    «Markets experiencing a continuation of the demand for gold jewelery sales and bullion, coins, and did not adversely affected Heights the described as very limited» said General Director of «Dhecan Jewelry », Jay Dhecan,

    Dhecan added that the decline in gold prices during the previous week, making the average prices at the borders of incentive to buy, not notified more than two years ago, prompting a large number of dealers of residents and tourists, to buy

    For his part, agreed that sales in the official shop «Annan jewelry», Mohammad Shams, with Dhecan in that the limited gains in gold prices supported the continued demand for buying works.

    He said that «outlets currently experiencing demand from dealers to buy bullion and gold coins, which ran out of some shops, with high purchasing them, in addition to jewelry, especially from Ayari ‬ 21, and ‬ 22 carats that are suited for decoration and savings together».

    As a sales manager in a shop «ATM Jewelry», Abdullah Mohammed Thami, he stressed that the markets are still experiencing a growing demand for sales of jewelery, considering lower prices ahead of the summer holiday season of the positive things that support the sales rates.

  • Gold down by Rs 20 on sustained selling, weak global cues

    Gold down by Rs 20 on sustained selling, weak global cues

    Gold down by Rs 20 on sustained selling, weak global cues

    Dubai Gold – Gold prices India today fell for the second straight session by losing Rs 20 to Rs 27,000 per 10 grams in the national capital due to sustained selling by stockists amid a weak global trend.

    Silver also met with resistance at prevailing higher levels and lost Rs 300 at Rs 44,000 per kg. The white metal had gained Rs 2130 in the previous two session.

    Traders said sustained selling by stockists against sluggish demand and a weak global trend mainly kept pressure on Gold prices for the second straight day.

    Gold in New York, which normally sets the price trend on the domestic front, fell by USD 6.30 to USD 1,369.70 an ounce and silver by 0.71 per cent to USD 22.27 an ounce.

    On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 20 to Rs 27,000 and Rs 26,800 per 10 grams, respectively. It had shed Rs 30 yesterday.

    Sovereigns remained steady at Rs 23,700 per piece of eight grams in restricted buying activity.

    In line with a general weak trend, silver ready declined by Rs 300 to Rs 44,000 per kg and weekly-based delivery by Rs 1,195 to Rs 43,170 per kg for want of support.

    On the other hand, silver coins maintained steady trend at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

  • Gold Rate UAE Today: Latest updates

    Gold Rate UAE Today: Latest updates

    Gold Rate UAE Today: Latest updates

    Gold prices UAE in futures trade moved in narrow range at AED 1695.46 per ten grams in opening session of trade Friday in Dubai Gold and Commodities Exchange and Gold ounce in Dubai open at AED 5135

    Gold prices edged yesterday Thursday after investors sought to turn to gold after it hit the dollar and the stock markets by a large number of weak manufacturing data that pointed to the growth of the global economy in the doldrums.

    Equity markets fell in all parts of the world, extending losses the previous day’s sharp, amid concerns about global economic growth and the timing of the end of the stimulus program of the Federal Reserve in the United States.

    In New York, he moved to gold for June delivery closed higher by $ 24.40, or 1.7%, to settle at 1,391.80 USD an ounce on the Comex division of the New York Mercantile Exchange.

    Dubai Spot gold last traded at 1.66 percent, at 1,391.30 USD an ounce, near its lowest level in two years at $ 1,321.35 an ounce in mid-April

    HSBC index that the decline in purchases from China for the month of May fell under the 50-point level that separates expansion from contraction, for the first time since October.

    It is expected to see the price of gold today limited move before the close of trading at the end of the day Friday could range between $ 1400-1410 per ounce today.

  • Has the gold rush come to an end?

    Has the gold rush come to an end?

    Has the gold rush come to an end?

    Dubai Gold – When the price of gold plunged $200 last month, many people thought they caught the sound of the gold bubble popping. What Peter Schiff, the CEO of brokerage Euro Pacific Precious Metals believes he heard was a stampede of fair-weather speculators fleeing the precious metal.

    Schiff and other champions of gold weren’t shaken by the plunge. To them it was just a short breather in preparation for another long climb.

    All the reasons they give for buying gold haven’t changed: Gold remains a refuge from disaster, they say, arguing that a steep drop in the dollar and a spike in the price of consumer goods are a threat.

    For speculators, buying gold was simply a way to profit from its popularity.

    “That’s what happens in a bull market,” Schiff says. “The selloffs shake out the Johnny-come-latelies. It’s healthy. Now we can have a real rally.”

    Gold, often touted as the most trustworthy of investments, has looked wild over the past month. After starting April above $1,600 an ounce, it dropped below $1,361 on April 15 and has steadily recovered to settle at $1,436 on Friday.

    Gold was supposed to be a haven from turmoil. When the housing market started cracking and the stock market sank in 2007, the price of gold began to surge. Over the next two years, it soared from around $600 an ounce to nearly $900 in the depths of the financial crisis in late 2008.

    For those who were wary of financial institutions or thought the Federal Reserve’s rescue efforts would backfire, it became the favored investment. The television personality Glenn Beck advised his audience to stock up on gold bars in case the dollar became worthless. The tea party called for a return to linking the value of the dollar to the price of gold.

    “People treated gold like the cure for everything,” says James Paulsen, chief investment strategist at Wells Capital Management in Minneapolis. “If you were worried about a depression, buy gold. If you were worried about inflation, buy gold.”

    If fear of economic collapse started the gold rally, greed accelerated it. By 2009, speculators and others looked to ride gold’s popularity. Hedge funds and other big investors piled in.

    Anxiety and gold prices kept climbing in tandem. Right after Standard & Poor’s stripped the U.S. of its top credit rating in August 2011, the price peaked above $1,900.

    Instead of buying gold bricks and stashing them in their basement, many hedge funds and big investors turned to buying gold exchange-traded funds, which trade on markets like stocks. The most popular offering, the SPDR Gold Trust, attracted big investors like John Paulsen, who made billions betting on the mortgage meltdown, and George Soros.

    As money poured in, the SPDR Gold Trust grew into the second-largest largest exchange-traded fund behind the SPDR S&P 500, which follows the stock market. And its supply of gold swelled from 780 metric tons at the start of 2009 to 1,353 metric tons in December.

    But now it looks like the fast-money has soured on the yellow metal. George Soros slashed his stake in the SPDR Gold Trust fund by 55 percent at the end of last year, according to the most recent regulatory filing.

    Judging by the numbers, it looks like others decided to jump out of the market at the same time. Hedge funds and big investors pulled $8.7 billion out of gold funds last month, according to EPFR Global, a firm that tracks where big investors put their money.

    EPFR says it was the biggest monthly withdrawal out of gold funds since the firm started collecting data in 2000. The SPDR Gold Trust unloaded 12 percent of its gold in April, selling 146 metric tons.

    There’s no single destination for all the money rushing out of gold, says Cameron Brandt, EPFR’s director of research. The most popular places for investors now are real estate funds, junk bonds, emerging-market bonds and stocks in big companies that pay dividends. One clear trend that Brandt sees is investors pulling cash out of the safety of money-market funds in search of something better. Some of that money appears to be trickling back into the U.S. stock market.

    So where’s gold headed next?

    The answer depends partly on where you think inflation is headed. At one extreme, Schiff and others in his camp believe the Fed will eventually let inflation loose and gold will hit $2,000.

    “They’re going to print and print until money is worthless, or they run out of trees,” Schiff says. “I think people will look back at this time period and think, `Wow, what a great opportunity.’”

    Others see no reason for gold to resume its climb. They point to a recent academic study that said current consumer prices imply a gold price below $800 an ounce. Gold forecasts from Wall Street banks sit somewhere in the middle.

    Samuel Lee, an ETF strategist at Morningstar in Chicago, has less than 5 percent of a portfolio he manages in gold, and plans to keep it that way. He considers gold a protection against inflation over the very long-term – from 50 to 100 years.

    Lee says he isn’t sure where gold prices are going this year or the next, “but I’m convinced they won’t do as well as stocks.” He adds, “I’m not really a big believer in gold. I’m fully aware that it can lose me a lot of money. I just care that it gives me some diversification.”

    With banks looking stable and the economy slowly improving, there’s less of a need to hide in the gold market. Fear of another financial crisis has diminished.

    Ralph Preston, a market analyst and broker at Heritage West Financial in San Diego, Calif., envisions a few scenarios in which gold could shoot higher this year. If the war in Syria spreads, or if North Korea launches an attack on other countries in Asia, it could head back above $1,900.

    “Owning a little bit of gold is probably not a bad idea,” he says. “But I don’t think we’ll be using it to buy groceries someday.”

  • Precious metals and their importance in the investment

    Precious metals and their importance in the investment

    Precious metals and their importance in the investment

    We are exposed every day to a lot of different problems and disasters. One of these problems is the significant decline in the value of the dollar. Currently the value of the dollar stable and powerful, but with the policy of printing money, which is happening now, we may see in the future decline in the value of the dollar.

    Since 1985, the dollar lost 50% of its value against other currencies, and 33% of it during the past 11 years only. And despite the dips and twists that are exposed gold and silver, but that they have a very large value.

    It also gained gold since 1995, the value increased by 350% and silver gained value by 500%. There are several other precious metals also gained a great value, but gold and silver are the most prevalent and easier to purchase.

    It is important to remember when investing in precious metals, it’s not-for-profit investment and get rich quick. Investing in precious metals investment over the long term is also a cover to protect against the fall of the value of the currency.

    As the gold is for many people a safe haven, which keep him as a safety and as a help time of distress. When a crisis certain country or the world, is not only important stored here eating and equipment, but when we go out of this crisis and go away and go back to normal life,

    We will need the precious metals, has passed the precious metal a lot of tests during the passage of time, as the use of precious metals will continue to exist to forever. After a certain crisis, will have deterioration and Batakid the economy will need the government to rebuild and restore stability, and this means that the value of the currency would not be present and therefore there must be a stockpile of precious metals in order to help in this matter. The barter system again due time economic collapse has been proven over and over again, that the precious meta

  • Why invest in Dubai?

    Why invest in Dubai?

    Why invest in Dubai?

    Dubai occupies center stage in the region in the fields of culture, tourism, shopping, and attract potential users of health care services from all over the world

    Infrastructure

    It is not exaggerated to say that Dubai International Airport is one of the international airports experiencing the fastest growth in the world, and ranks sixth in terms of international passenger traffic and congestion, where the number of international passengers reached 41 million international passengers in 2009. And more than 130 international airlines provide freight services and passenger transport, including United Airlines, and British Airways “KLM”, Lufthansa, Singapore Airlines, Emirates Bank, Emirates. Emirates maintains its operations from the new airport terminal 3, which was recently opened, which accommodate 27 million passengers annually.

    – Jebel Ali Port is the largest port in the world of man-made, has seen an increase in the movement of goods by 40% in the period between 2008 and 2009. DP serves more than 242 lines for charging. The volume growth in the UAE alone, ports match the overall percentage for the Middle East, Europe and Africa together and counted by 19%.

    – There are many free zones in Dubai that provide the appropriate infrastructure for specific industry sectors and tax incentives for such industries as follows:

    Financial services and goods – the Dubai International Financial Centre and the Dubai Multi Commodities

    Health care – the city of Dubai Healthcare

    Media and Technology – Dubai Internet City, Dubai Media City and Dubai Biotechnology and Research Park

    Education and universities – University City and Knowledge Village

    Textile Industry and Logistics – Jebel Ali Free Zone and Dubai Logistics City

    Dubai Airport Free Zone

    Some of the benefits of free trade zones in Dubai include prefabricated offices, factories, warehouses, and ease of startup and completion of licensing procedures.

    – Dubai Metro is one of the rail networks in the world’s most advanced, thanks to automatic Qtarath that do not call for the leadership of the driver’s manual. It connects some of the shopping malls in Dubai, as well as the most important tourist sites and the airport.

    Trade and Investment

    Sector grew Dubai’s non-oil foreign trade increased by 38% in 2008 to a volume of 934.7 billion dirhams (254.7 billion U.S. dollars)
    Dubai has emerged as a key market for foreign currency derivatives through the initiatives of the Dubai Gold and commodities.

    Dubai is a regional hub for trade and investment in commodities such as gold and precious metals, diamonds and colored stones, energy (trade fuel and natural gas), and tea, as well as pearls, fashion jewelry, which represent only 26.5% of the foreign trade of non-oil for the UAE in 2008.

    Taxes

    Dubai does not impose any taxes on personal income, or capital gains tax or withholding taxes. However, all companies must by law to pay taxes on their profits, a rate not exceeding 55 percent. But in practice, you do not have to pay corporate taxes only on the oil-producing companies, and branches of foreign banks.

    Free Zones has many financial incentives tempting, such as exemption from corporate taxes for 15 years or more, and foreign ownership of 100%, the absence of taxes on personal income, the possibility of converting 100% of capital and profits, not to impose capital investment minimum or need to a local partner.

    Tourism

    Dubai visited nearly 7 million tourists in 2007 and 3.85 million in the first half of 2009
    A hospitality and tourism sector about 18% of GDP in Dubai.

    Dubai is witnessing a number of events and has a lot of attractions that will promote the local tourism sector. It hosts a variety of art festivals and cultural rights, such as the Dubai International Film Festival and Dubai Festival for jazz, in addition to a series of sporting events such as contest the Dubai Desert Classic golf, Prix Etihad Airways Grand Prix 1, seven-UAE Rugby, the Dubai World Cup horse race and games international cricket.

    Activities include other tourist attractions in Dubai Dubai Shopping Festival, safaris in the desert, Burj Khalifa (formerly known as Burj Dubai), the ski resort “Ski Dubai”, many tourist resorts, in addition to the Global Village and various shopping centers, including the largest shopping center in the world, “The Dubai Mall.”

    The tourism infrastructure in Dubai is one of the best in the world thanks to a wide range of world-class hotels including Raffles Hotels Atlantis The Palm Dubai, Kempinski, Armani Hotel, Hotels Jumeirah and Burj Al Arab.

    The standard of living

    Occupied the United Arab Emirates (UAE) ranked first (1) in its capacity as the country with the best standard of living in the Middle East and North Africa, and ranked 15 in the world out of 160 countries.

    In addition to infrastructure bedrock of telecommunications, roads, airports, earned the United Arab Emirates ranked mentioned previously, thanks to left untouched of recreational facilities multiple installations and private consumers, and the prophetess, public infrastructure, and safety and security standards, in a community open and permissive almost devoid of crimes.

    Gained the United Arab Emirates as well as international fame thanks to the entertainment possibilities offered by that rise to the highest international standards, in addition to its recreational facilities and luxury abounds by the large commercial centers of excellent shopping opportunities.

    Talent

    Due to upscale standard of living and the presence of the most important companies, Dubai attract the best talent in the Middle East and more than 195 nationalities.

    Includes Dubai offices of many major corporations multinationals, including Microsoft, Oracle, Nokia, Sony, Boeing, Pricewaterhouse Coopers, HSBC, Royal Bank of Scotland, Shell, Emirates Airlines, Procter & Gamble, Adidas World BNN BBC World.

    Many of the world-renowned universities with branches in Dubai, such as American University, Michigan State University, Rochester Institute of Technology, University of Wollongong, London School of Economics, London School of Business and the College of Holt International Business School.

  • Gold demand in Dubai raises its price above London prices

    Gold demand in Dubai raises its price above London prices

    Gold demand in Dubai raises its price above London prices

    Led demand for gold in Dubai to raise its price above London prices, including increases of about 6 to $ 9 per kilogram, according to Bloomberg. Gold prices have attracted loosing a lot of consumers who accept the purchase in Dubai.

    This came after he hit gold prices recently shaken the strongest in years, having shaved to the highest level ever to 1924 dollars per ounce in September 2011 he found himself at the borders of 1333 dollars last week, which is equivalent to a decline by 30 percent from the peak .

    He told Tariq pistil General Manager Kaluti for jewelry, that the demand for gold bullion rose significantly during the past few days, to take advantage of the prices of the yellow metal globally, estimated that the average day trades on gold bullion in Dubai with 5.2 tons are sold every day.

    And pestle pointed out that there is a great demand for gold bullion from the Gulf and Arab markets and Asian wholesalers requests from these countries large amounts of gold ore on a daily basis, so we as a company have a daily orders exceeding 500 kg.

    He pointed out that gold traders in Dubai are selling large quantities to these countries because of the high commission rate of up to $ 15 per kilogram compared to 3 or 4 dollars when selling quantity in the local market, and pointed out that the refineries and factories gold production can not keep up with the daily demand of Before the Gulf and Arab markets, Asian and Indian, stressing that there are requests exceed the daily production.

  • Gold Prices In Dubai Per 10 gm Down 70 AED

    Gold Prices In Dubai Per 10 gm Down 70 AED

    Gold Prices In Dubai Per 10 gm Down 70 AED
    Dubai Gold Rate – Gold price in Dubai witness decrese in gold price this week as gloabal gold price down .

    Today Gold Prices In Dubai Per 10 gm record 1610 AED down from 1680 AED last week

    22K today in Dubai 152.12 AED and 18 K in Dubai 123.90 AED

    Officials outlets for Jewelry and Craft gold in Dubai and Sharjah confirmed that rises price reflected negatively on sales, especially on the bullion and gold coins, arguing that the continued increase in prices for a period of three weeks, the overall increases of nine dirhams, contributed to the decline in sales at rates ranging between ‬ 10 and ‬20%.