Author: Team Editors admin

Dubai strongest globally as a center for gold and diamonds

Increasing amounts of gold and diamonds that are actually traded through Dubai is rapidly reinforcing the emirate’s position as a global hub for trade in goods the main rival of the world’s major centers in the European continent.

A report published by the “Med” yesterday statistics reveal the trading value of $ 70 billion of gold in 2012 with a high weighting to higher levels through 2013. The size of the value of the gold market in Dubai in 2012 is equivalent to 12 times its size in 2003 as a trading value of only $ 6 billion.

And recorded diamond trade growth steady also, the value of diamonds were traded early last decade between 3 to 5 million dollars it soon rose in 2011 to $ 39 billion, and continues to the size of the diamond market in Dubai to grow, where he scored two months the first and second This year’s trades amounted to 20 million carats, an increase of 7% compared with the same period of last year, this is equivalent to $ 9.1 billion or an increase of 11% compared with the value of a diamond, which has been trading the same period in 2012.

And playing center DMCC, which was founded in 2002 a major role in this growth, promotes excellence Dubai in the markets of precious metals and gems world by encouraging companies to work from the free zone developed by the center in Jumeirah Lakes Towers, as well as providing distinctive services to companies and investors, such as Wallet service and Dubai Gold & Commodities Exchange.

Adding to the importance of the center announcement earlier this month for the determination of the company “Kaluti” the British set up a factory for gold jewelry at a cost of $ 60 million in the free zone in question, it is expected that the plant starts production in 2014 card up to 1400 tons of gold and 600 tons of silver and other precious metals.

May 23, 2013
High demand for gold in Dubai

Increased demand for gold in Dubai as standard, which also led to a significant increase in surcharges imposed by the gold traders.

Total price Additional paid by wholesalers and buyers in large quantities for a kilogram of gold is higher than the 6 to $ 9 per ounce compared to price the cash in the London market, according to what was said by Frederick Banezota president of marketing and sales in the MK S Precious Metals, in an interview with Bloomberg on Dubai.

The price of gold fell in global markets to the lowest level in two years during the past few days which led to a wave of overwhelming purchase of gold coins and jewelry from the United States to China to Turkey.

Such as the Middle East, 9.4% of the world’s total purchases of gold in the past year, according to the World Gold Council data. The gold bullion disappeared from view in the markets. According to what was said Gerry Schubert, head of precious metals at Emirates NBD.

May 23, 2013
Tourists pitch into UAE gold buying spree

Dubai Gold Rate : Gold, in any form, has now emerged the favoured souvenir for visitors to the UAE, as they try to take full advantage of the volatility the metal prices have had since the second-half of April.

Visitors from India certainly are buying their money’s worth, and so it seems are those from China, Pakistan and some of the other Asian countries. The preference is definitely for the 22 carat, which on Friday was at Dh163 a gram.

Buying activity picked up a notch since Thursday in the local gold souq, with significant support also coming in from visitors.

“There is a lot of retail support for price in the range of Dh160-Dh168 a gram, though the floodgates open at the Dh152-Dh158 level, which is what happened between April 11 and April 22,” said Cyriac Varghese, general manager at Sky Jewellery. “But for tourists and those flying back to their home countries now, buying gold or jewellery in the UAE offers a definite price advantage.”

According to anecdotal feedback, Indian customs are taking a more lenient approach towards gold and jewellery being brought in by passengers from the UAE. Also, the Indian government had raised the threshold — in value and gram — in the recent budget that Indians could bring back into the country.

The price differential between buying here and in India is 7 per cent, and on top of that there is the difference on the making charges.

Pre-bookings

Some of the retail chains have been offering pre-bookings, which helped lock in sales at Dh157 a gram during the week. Others waived making charges on gold coins to get retail buyers into shops this week.

“By removing the making charges, the intention is to engage with shoppers looking for the small value investment transaction,” said Shamlal Ahmad, director of international operations at Malabar Gold.

Historically, those who prefer to buy coins or bars represent between 5-8 per cent of retail level sales. Such transactions saw a marked spike in the period between April 11 and April 22 when gold prices went through a period of volatility unseen in recent years. Indications are that it touched the 30 per cent mark during this phase.

“The majority of retail buyers are not bothered by factors such as central bank sell-offs of bullion, dollar tracking upwards or weakening economic data,” said a bullion analyst in Dubai. “Their interest in gold is elemental, you see that among Indians and now in increasing degrees among Chinese buyers. Any downwards pressure on gold in the coming weeks, and it would set off another round of frenetic buying.”

May 23, 2013
Gold between the rise and fall: its factors and causes

Gold lose about 5% of its value after the close price in a wave dips, which began last week, also caused landing gold in the longest series loss in 4 years, which raised the value of the dollar to the highest level since 2008, amid recovery clear Exchanges global rise of the dollar has decreased the price World Gold by about 20%, where the price of an ounce to about $ 1345.44. He also said that China and India, their top strategic stockpile of gold has helped revive economic market and especially in the recent period.

Gold prices fell reasons

It is clear that the cause of decline in the price of gold is arriving to a record level of headroom, where gold continued to rise about 12 years continuously.
It comes back the current natural reaction after a rally that lasted for more than 12 years, was where gold is the safe haven through several economic crises, global, on the other hand contributed to rising stock prices in several exchanges global decline in gold prices, and the recovery of the capital market in many countries.
Reports indicated that gold investors who were him to escape from the financial collapse of their savings, preferring to retreat and try to escape from their investment positions in gold at any price because of the decline in inflation around the world.

Factors rise in gold prices

The lack of production and lack of supply of the main reasons for the occurrence of high prices in the international market due to suspension of some producing countries announced the launch of production in the market, which led to a lack of quantity supplied in the market.
Investors resorted to retain the gold instead of cash for fear of investing in different areas because of the crisis and international turmoil affecting the global economy.
In recent period, the specialists noted that there are reasons other than economic reasons known to high prices is the most important:

Rising global demand for gold this year by 7%.
The closure of many mines in South Africa, which is one of the largest countries in the world for gold production to the continuing decline in gold production in South Africa since a long time.
In spite of the Declaration of European central banks to sell more than 100 tons of gold reserves located has, so some countries expressed interest, such as Russia, Argentina and South Africa to increase the possession of gold.

At present noted that the reason for the high demand for gold from the larger bowls, which is characterized safe savings compared to investing in stocks, as for gold, the return on investment which increased to some extent in addition to enjoying a degree of tranquility compared with other areas of investment.

May 22, 2013
Important points before selling your gold

Economic volatility may cause shook the confidence of investors in securities and even real estate market, it is economical for investors should be invested in safe, away from all market risk, investment in gold is definitely the best choice. This has led to a high increase in demand for gold and took prices to rise, if you are looking for to make some money and sell gold for money, regarding the following are some points to get the best gain of gold.

1 – raw gold better than gold jewelery:

Investing in gold ore of the best ways to make money as it is better than buying gold jewelery, so if you had to choose between gold ore and gold surely must select gold ore.

2 – Get your gold:

It is good to get a suitable gold worth allows you to profit-taking in the sales phase, and also the idea is that you already have an idea of the amount that gold will bring you from the profit and traders should avoid deceiving.

3 – know the value of gold:

Any ordinary person knows that the purity of gold and the value measured in karats, and should have a correct idea of the value of your gold higher the carat value of the value of gold rose.

4 – Know the weight:

Usually measured gold with ounce but some traders are measured in grams gold, ask the dealer to explain to you, and the unit of measurement used does not rely on calculations.

5 – Visit of at least 2-3 traders:

There is a big possibility that the merchant trying to cheat you by one of the means, do not trust the merchant even if someone you know for several years, visit several traders and chose the one that offers you the maximum price.

6 – Check out some of the shops with a good reputation:

In the event that you are trying to sell some old jewelry or jewelry your mother or your grandmother, there is a high probability that be of archaeological value. So check out some antique stores to assess the monetary value, in the event that he is not willing to buy them, as you can put it the idea of offering for sale and give a percentage of the amount that will bring.

It is advisable to find gold bought from you versus the best value of money, you should keep in mind the weight and value and the price of gold to be sold.

May 22, 2013
Emirates NBD issue billion dollar bond at 5.75%

Launched Emirates NBD bonds worth one billion dollars on Wednesday to support the core capital amid strong demand enabled the Dubai-based bank indicative of the price cut.

Bonds that were raised supports the first level of capital a final yield of 5.75 percent, compared with six percent in the indicative price announced earlier on Wednesday.

It is scheduled bond pricing later on Wednesday.

The same Bank and the Bank of America Merrill Lynch, Deutsche Bank and H. S. Me. Holdings Plc iMac. Said. LG Group and Morgan Stanley arranged version

May 22, 2013
Dubai Spot Gold Today

Dubai Gold

Spot Gold in dubai today record $1377/OZ in Dubai Gold Exchange raise by 0.42 % from yesterday $1367.30 USD/Ounce of gold in the Spot market.

May 22, 2013
Dubai’s Most Luxurious Hotel Is Giving Guests 24-Carat Gold iPads

Dubai Gold – Dubai’s Burj Al Arab hotel, arguably the world’s most luxurious hotel, just unveiled its newest luxury amenity: 24-carat gold iPads.

When guests check in, they’ll be given their own gold iPads, which will serve as a “virtual concierge” that offers information on everything from the hotel’s restaurant menus and spa treatments to housekeeping and butler services.

The gold iPads were custom created for the hotel by British brand Gold & Co.

The hotel already has an iMac in each of its 202 rooms, in addition to other luxury amenities, like walk-in showers and Jacuzzis, large plasma TVs, and private butler service.

This isn’t the first time the hotel has introduced iPads in its rooms: In October 2012, the hotel showed off a 24-carat rose gold iPad in support of Breast Cancer Awareness Month, which was engraved with a pink ribbon and the hotel’s logo.

Guests will be given the iPads just during the course of their stay at the hotel. If they want to take the luxury gadgets home with them, they’ll have to buy it from the hotel’s boutique.

The gold iPads may seem like an absurd and unnecessary extravagance, but when you’re paying $1,500 per night (the starting rate for a double room), you expect the ultimate in luxury—and Burj Al Arab delivers.

May 21, 2013
Gold price hits 21-month low, silver at weakest in over 2 yrs

Gold price on Monday fell to its lowest level in 21 months and silver hit a 31-month low on heavy sell off by stockists, taking weak cues from overseas.

While gold dropped by Rs 330 to Rs 26,370 per 10 grams, matching its price on August 10, 2011, silver prices plunged by Rs 1,530 to Rs 42,170 per kg, a level last seen on November 26, 2010.

Selling pressure gathered momentum as precious metals in global markets extended their longest slump in four years as investment holdings contracted and stocks rallied and dollar surged against other currencies.

In global markets, which normally sets the price trend on the domestic front, silver tumbled 7 per cent to $20.69 an ounce, gold by 1.5 per cent to $1,338.85 an ounce.

Traders said a weak trend at futures trade as speculators offloaded their positions to shift their funds to rising equities, further fuelled the sentiment. Besides, fall in demand due to off marriage season and retail customers expecting more correction in the bullion prices was another dampening factor.

On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 330 each to Rs 26,370 and Rs 26,170 per 10 grams, respectively. Sovereigns, too, plunged by Rs 200 to Rs 23,500 per piece of eight grams.

Silver ready dropped by Rs 1,530 to Rs 42,170 per kg and weekly-based delivery by Rs 1,485 to Rs 41,170 per kg. Silver coins nosedived by Rs 3,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

May 20, 2013
Gold Price India down by Rs 650

Dubai Gold Rate : Price of gold has been fixed at Rs. 49,100 per tola today, the first day of the week.

The gold price came down to Rs. 49,100 decreasing by Rs. 650 per tola as compared to Friday, according to the Nepal Gold and Silver Dealers´ Association (NEGOSIDA).

The gold was traded at Rs. 49,750 per tola on Friday.

Similarly, price of worked gold has gone down at Rs. 48,850 per tola today, which was Rs. 49,500 on Friday.

Likewise, price of silver also decreased by Rs. five per tola and traded at Rs. 850, according to the NEGOSIDA.

The NEGOSIDA does not determine the price of gold and silver on Saturday.

Chairman of the NEGOSIDA, Maniratna Shakya, said that the price of gold has decreased today due to the impact of international market.

May 20, 2013