Dubai Gold – Open Gold market in Dubai today by decline 0.99% and Dubai Spot market rate $1348.11 ounce,
22K in Dubai recorded 151 AED, 18k record 122 AED in Dubai spot market Today
Author: Team Editors admin
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Gold Price India At lowest Price During The Year
Gold prices fell on Sunday worth Rs 651 Tula, a unit of measurement Asian, equivalent to (11.664 grams), making this the highest decline in the price of gold during the year.
According to Nepal Gold, it is the price of gold trading at Rs 49.099 after a low price, after it was trading on Friday at 49.750 rupees.
Last week, on Sunday, the price of gold at Rs 51 900 and continued to decline during the week after.
The gold price has witnessed a sharp decline in April, when he arrived to 6,300 rupees for Tula in two days to fall on April 15 at 3,300 rupees. Since that time, the price of gold move between highs and lows.
The price of gold has reached its highest price on September 14, 2012, when it reached 62,000 rupees for Tula.
It also increased the demand for gold as wedding season where demand reached 45 kg per day, after it was normal to the request within the limits of 30-35 kg per day.
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UAE Gold Price Down 10 AED Per Gram
Dubai Gold – UAE gold price declines ranged between 8.5 and 10.75 AED per gram, compared to gold rates of previous week, according to the stated price indices in Dubai gold markets and Abu Dahbi.
Officials outlets jewelry and gold in Dubai and Sharjah said that declines of gold prices, finally, as a rebound heights are price, which continued for a period of three weeks, arguing that the rates of decline large price, impacted positively on sales of bullion and gold coins and jewelry, which has grown up to 40%.
Gold rate UAE for 24K record 167.25 AED a decline of 10.75 AED for the end of the previous week, while 22K record 158 AED, down 10 AED.
The price of 21K to 149.25 AED, a decrease of 9.75 AED, while the price 18K reach 128 AED, down amounted to 8.50 AED.
The director of sales in a shop «ATM Jewelry», Abdullah Mohammed Thami, said that «large percentage decline recorded by gold prices, market activity returned again, after achieving prices continued altitudes three weeks with different values, as a whole amounted to about seven dirhams».
He stressed that «consumers turned to purchase jewelry and bullion, raising sales grew by 40%, compared to the previous week. In turn, the official estimated sales in the shop «Jewelry days», Jalish Sakr, the growth of gold sales, increased by ranged between 20 and 30% during the past two days, as a result of lower prices, noting that it included jewelry, and bullion and gold coins.
He said that «Impairment exceeded 10 dirhams, which is a strong incentive to buy, whether for savings and investment, or to adorn gifts», and expected to see sales grow larger, with continued price when rates are close, especially with the asylum Most dealers to buy now, in preparation for the holidays summer end of May.
In the same vein, an official said sales in the shop «palm Jewellery», Samir Ali, said that «low price reflected positively on the markets to buy gold», indicating that acquisitions focused on gold ( 22) and ( 21) carats .
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Gold prices in Dubai fall with increased appetite for gold
Gold price in Dubai dropped over the past week as the price of 22k to 156 dirhams per gram decrease of 15 dirhams for price last year, shed the yellow metal for about 30 percent of its value since the highs gold ever on September 6, 2011,when it rose to $ 1,923 per ounce.
Said Joy Alukkas, Chairman of Joy Alukkas Group that dip in gold prices contributed to increase the sales during the past few weeks more than 70 per cent compared to the same period of 2012. During celebrations Akshaya Tritiya and most of the jewelry outlets saw an upswing of 15 per cent.
“Gold price can not be predicted exactly., But this is a good time to buy,” said Joy Alukkas.
Said Shamlal Ahmad, Managing Director International Operations, Malabar Gold that UAE Gold sales jump up to 100 percent of the gold sales in the UAE and Dubai in particular And Dubai Gold Souk witnessing abnormal activity of the volume of sales since the lower in world gold prices in mid-April.
We expect to continue increase Dubai Gold for a considerable period, especially with the expectations not high gold prices in the near said Ahmed Hilal, director of Space Crescent Jewellery in Dubai.
According to World Gold Council , gold demand fell 13 per cent in the first quarter as a result of the liquidation of a large-scale in the exchange traded fund while the demand for gold in jewelry rose 12 per cent.
“The demand for jewelry in markets across the Middle East has seen a rebound in the first quarter”
Recorded UAE gold sales of $ 1.14 billion in the first quarter of 2013, an increase of eight per cent in terms of value during the same quarter in 2012, gold sales in the UAE rose to $ 3.36 billion, which represents about one-third of the $ 10.1 billion in gold sales in the entire Middle East region in 2012, according to the World gold Council report.
Said Steve Land, portfolio manager and research analyst at Franklin Equity Group that the main drivers of the gold price crash seems to be a sell-off in exchange-traded funds backed by gold and gold investments.
Land said that there is a significant lower in the amount of gold in the global investment funds traded since February of this year, which effectively moved a large amount of gold out of the investment market. ”
Land added that other factors behind the collapse of gold prices is the fear of the debt problem of Cyprus and the strength of the U.S. dollar, and improving equity markets / global economy and limited signs of inflation at the global level.
“Although gold prices are nearly impossible to forecast, we believe there are still compelling reasons for having exposure to gold through related equities in the current environment. Gold acts as a store of value in times of uncertainty and may act as a potential hedge against a weak US dollar or rising inflation,” said Land.
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Gold Price in India Tumble to Lowest Since 2011
Gold futures in Mumbai are poised to the lowest level since August 2011, especially with the presence of current curve downs trend for the gold price and then say what was said Motilal Oswal trading analyst
Gold futures preparing to drop 8% to 24,000 rupees (438 U.S. $) per 10 grams in Multi Commodity Exchange of India Ltd in the next month, which would be the lowest price since August 4, 2011. Said Kishore Narne head of commodities and currencies at Mumbai-based brokerage
In a sign of the London gold prices fell alloy which worst since 1982 and has lost 18 percent as investors sold the metal in favor of riskier assets on speculation that the global economy is recovering. Futures lost 20 percent in Mumbai since reaching all-time highs of Rs 32 464 in November. Contract for June delivery fell 0.3 percent to 26047 rupees a day.
A falling channel is a continuation pattern where prices show bearish signals along a channel marked by two parallel lines. The falling channel continues until the prices move to break through the upper or lower end of the channel accompanied by high volume. In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes.
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George Soros continues to reduce his Gold holdings by 12%
Gold futures fell for the sixth day in a row to be the longest string since December 2011, in conjunction with the reduction of Soros possessing of precious metal products in index funds, and continued pressure on the euro by the dollar.
Investor George Soros joined to Northn Trust Corp. and BlackRock in reducing the possession of gold-backed ETF in the first quarter, while John Paulson kept his stake, which lost $ 165 million.
Fund cut Soros Management refuted the possessing in SPDR Gold Trust the largest gold-backed funds 12 percent to 530.9 thousand shares in the thirty-first of March, compared with the previous three months that ended in the thirty-first of December.
At a time when reduced funds managed Northn Trust Corp. BlackRock the retained possession when 21.8 million shares.
The reduction done by the ‘Soros’ for possession of gold in the first quarter came after a sharp cut by 55 percent in the last three months of last year.
It is well known that the famous billionaire Warren Buffett said in his annual address to shareholders of his company Berkshire Hathaway is the second of May to the need to avoid gold, where he said «that if they fell below $ 800 will not buy it.
13% decline
For his part, the World Gold Council said yesterday that demand for the precious metal fell 13 percent in the first quarter to its lowest level in nine years, as investors exceeded sales in its subsidized products in index funds buying boom in India and China.
The Council, which is headquartered in London, in a report issued Thursday that global demand for gold fell to 963 metric tons in the first quarter, compared with 1107.5 tonnes a year ago.
This figure is the lowest since the first quarter of 2010 when demand for the metal reached 658 metric tons.
And contributed to the record demand from China jewelry in raising the total consumption of the precious metal in the world’s second largest economy to exceed India, at which time it grew jewelery demand in the two countries 23 percent in the first quarter, while the central bank purchases fell.It is well known that the precious metal prices continued to rise strongly during the 12-year-old sustained fell violently in the middle of last month when it fell by about $ 200 in two days to their lowest levels in two years.
Investors are directed towards the exit from their positions in gold to high-risk assets, especially equities, especially with the U.S. market to continue to achieve record highs.Demand for jewelry
The report showed a rise in global demand for jewelry 12 percent to 551 tonnes, in conjunction with a jump in purchases by 19 percent to 184.8 tons in China, and by 15 percent in India to 159.5 tons, while consumption rose jewelry in the United States 6.2 percent to be the first quarterly increase since 2005.
The total consumer demand in China 20 percent to 294.3 tons, surpassing the consumption of India, which rose 27 percent to 256.5 tons.
The central banks added 109.2 metric tons in the three months to March, to be the ninth consecutive quarter of net buying those banks.
Gold fell for the Alsace consecutive day to be the longest string since December 2011, in conjunction with the reduction of Soros possession of precious metal products in index funds, and continued pressure on the euro by the dollar.
The precious metal contracts fell for June delivery in electronic trading on the New York Stock Exchange of $ 19.5 to $ 1376.7 after earlier fell more than 1.5 percent to $ 1373.7, which is the lowest in a month.
It is well known that the gold futures fell by about 18 percent this year, while reducing many investors possession of him, while the dollar rose more than 5 percent in the basket Amlath six which includes the yen and euro, while jumping the index «S & P» to the level of a new record the day before yesterday.
It is noteworthy that silver futures fell about 2 percent to 22.18 dollars, while platinum fell more than 1 percent to below the level of 1475 dollars.
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How to sell Gold in Dubai For cash
Dubai can be termed as a Land of Gold. The Dubai Gold Souk is world famous for its shops dealing with Gold items.
Several gold kiosk /Express outlets are springing up rapidly in Dubai. Smaller outlets are now preferred by businessmen as they have lower rent charges and business can be managed using lesser number of staff. This trend comes in handy to everyone who has plans to sell their gold. You can be assured of selling the gold in any one of these outlets. Gold is valued by its karats, which include 10k, 14k, 18k and 24k. The purest form of gold is 24k and brings in the most amount of money
Places to sell Gold
There is a high demand for Gold Jewelry in
- The malls and souks (open air markets) of Dubai,
- On Maktoum Road, Dubai’s equivalent to Old Bond Street in London.
Gold is normally sold as ornaments or coins. In the case of ornaments ,you have the option of selling old gold in exchange for new /latest models. There are exchange offers which will be advertised mostly on the front door signboards itself. Some of the shops offering exchange facilities in the Gold Souk, Deira are Kanz, G.B and Barakat. These shops have other branches in Deira as well as in the Dubai mall gold souk area. Gold Jewelry designers such as Tiffany, Cartier and Chopard, Italian gold jewelry designs by gold jewelers such as Pasquale Bruni and Roberto Coin are also available at Dubai, so if you are after the latest designs, you’ll surely have fun exchanging your old pieces.
If you require cash, in exchange for your gold, Al Taj, which is located in the alley of gold shops surrounding the covered part of the gold souk and Al Khatib, near Al Taj are highly recommended for their reliability in such deals. They normally group your gold into 18K, 22K and 24K to weigh and estimate their value. These two shops require your Passport and not any other ID card. Also remember to bring any certificate obtained during the purchase of that particular piece of gold. Sometimes you may be asked to prove that the gold has a hallmark. The whole process will not take much time as most of the staff in the Gold Souk shops are experts at estimating the value and worth of gold and buying it from customers. Sometimes when dealing with a sale, the police authorities are called up to take photographs of the gold being sold and to sign off the deal. There is no reason to be alarmed as it’s just a security measure. However to be on the safer side, please do make sure your gold is pure and you have all the required proof with you.
Documents you should have when trying to sell your gold.
- A valid ID-This can be a Labor card, Passport, Driving License or Emirates ID.
- A bill / proof of purchase of the gold you want to sell.
Tips
- Usually more people visit shops in the evenings, so you have more chances of buyers that time.
- Do not forget to check the weight of your gold in more than one place, just to be sure.
- You can search on the Internet for online buyers. Check out the online yellow pages directory t find online buyers, pawn shops and jewelry stores. An online gold buyer normally provides the highest quotes and the deal has a quick turnaround time and lower overhead expenses.
- However make sure that these online traders are reliable.
- If possible, confirm if the gold buyer has a satisfaction guarantee. This will guarantee a good track record and trustworthiness in business deals.
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How to Trade in the UAE Stock Market
Dubai Gold – UAE now consider one of the fastest growing markets in the world. While still rich in oil, the UAE has become incredibly wealthy because of its extensive market liberalization and the resulting billions of foreign investment dollars it has attracted from all over the world. With the proper knowledge and right tools, you also can profit from trading stocks in the UAE.
How to Trade in the UAE Stock Market
1- Understand the UAE stock markets and economy. The United Arab Emirates is a federation of seven emirates (states) located in the southeast of the Arabian Peninsula on the Persian Gulf. The two most populous and highly capitalized emirates are Abu Dhabi and Dubai, which are also the only two emirates that have stock exchanges, the Abu Dhabi Securities Exchange in the case of the former, and the Dubai Financial Market in the case of the latter. The UAE remains a prominent member of OPEC, and although it is far less-dependent on oil exports than it was two and three decades ago, the energy sector is still an important part of the local economy. Periods of global expansion have been particularly fortuitous for the UAE because they have usually driven oil and natural gas prices considerably higher, whereas global contractions have proven especially harsh. Similarly, because of its market liberalization, it has been a primary destination for emerging market investment flows during boom times, but it has conversely been subject to large scale sell-offs when investors lose their risk appetite and decide to trim exposure to emerging markets.
2- Track the price movements of the major UAE stock indices, such as the United Arab Emirates Index, Dubai Financial Markets Index and Abu Dhabi Securities Exchange Index. Stay abreast of the news and developments affecting major, high market capitalization companies such as Abu Dhabi Commercial Bank, Air Arabia and Aldar Properties, as well as the general trends in larger sectors like consumer cyclicals, consumer non-cyclicals, energy and finance and specific industries like construction, aviation, real estate and retail.
3- Buy stocks in the UAE through your broker. Most sophisticated Western brokerages should be able to buy any stock listed on a major UAE exchange. However, because retail investment from Western countries remains rare in the UAE, many brokers will not be familiar with the companies listed on its exchanges, what the country’s currency is or how exactly to go about the transaction. They will probably request that you provide the Committee on Uniform Security Identification Procedures (CUSIP) number of the stock you’re interested in buying or some other sort of international identifier. Be sure your broker does not overcharge you when converting your U.S. dollars to UAE Dirhams (as will probably be required to invest in most UAE companies) or level an excessively high commission.
4- Open up a brokerage account with a company in the UAE, such as the Abu Dhabi Financial Services Company or Al Ain Centre for Securities Brokerage. With a local broker, you’ll have all the advantages of direct access to the UAE market at considerably lower cost than transacting through most Western brokerages, but you don’t have as many U.S. regulatory safeguards, and you likely have to accept that your capital will sit in units of UAE Dirham, potentially exposing you to exchange rate risks.
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Gold falls for a sixth and may hit April declines Agian
Gold fell for a sixth straight session on Thursday, the lowest level in four weeks with a high dollar and low investor sentiment.
And damaged the attractiveness of gold stocks rise this year which prompted the index funds to sell their holdings of the precious metal.
Gold fell 1.6 percent to $ 1369.29 an ounce and reached 1374.46 by the time 1012 GMT.
The U.S. gold futures fell June delivery 1.6 percent to $ 1373.10 an ounce after falling to 1368 dollars.
Traders said gold fell below the psychological support level $ 1,400 in the previous session blew a huge wave of selling and that the yellow metal may retest its lowest level in two years that the record on April 16 at $ 1321.35 an ounce.
And will decline for the sixth consecutive day longer wave losses incurred gold since March 2009. And gold down 16 percent this year after gains over the past twelve years.
Among other precious metals silver fell 1.5 percent to 22.24 dollars an ounce after earlier touched its lowest level since April 16 at 22.09 dollars. Silver fell 6.7 percent this week in its worst weekly performance in one month.
Platinum fell 1.1 percent to $ 1468.24 while palladium 0.7 percent to $ 719.22 an ounce
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Commodities Market Technical Analysis : Gold
Gold prices fell in forex commodity markets during the current day of the week as it was unexpected technical analysis on Monday 05/13/2013 where gold breaking through support at 1423 levels, which push prices towards $ 1381.50 levels.
Trades Direction: Down / SideAfter the huge sales in the month of April, the price of gold rose to resistance area at $ 1,475.00 – $ 1,487.00, which was as expected in recent days repeatedly failed in porous gold after penetration levels of $ 1,440.00 support levels 1 gold attacked , 423.00 $ riddled and renewed sell-off in the movement that can only slows down through support at $ 1,381.50.
Downtrend on the gold and break the support level 1423 pushing prices to attack 1.381,50 levels which if broken will push gold to key support levels 1.350,00 that penetration would be dangerous on gold prices could push prices to collapse.
Will show a buy signal on gold trading unless back above the resistance levels of 1423/1440 dollars as above closures will push gold back to the levels of 1475/1487 and $ that impenetrable push prices to the levels of 1522 dollars.
Given the daily chart for trading gold note that prices are still in a bearish trend after the big drop in April and the recent gains before last week’s correction of the decline in the large and still gold faces pressure selling large and there is still a line of defense at the levels in 1381 to 1350 dollars as impenetrable and resealabledaily underneath will push gold to test the support levels of 1314 and $ impenetrable trading levels will pay 1265 dollars.
Only the return of daily closures above the levels of 1423 dollars might bring hope for gold to rise towards the levels of 1475 dollars at which they will face resistance to bounce bearish on the conservative side and in the case of trades hack up may push prices to levels of 1522 dollars in the short to medium term
