Author: Team Editors admin

What Makes Gold Distinctive

Dubai Gold – Over the centuries, gold has played a role unique cultural in communities all over the world. Even today, gold retains cultural importance. In Olympic sports, a gold medal and one represents the pinnacle of achievement. Winning the Palme d’Or, is a symbol representing the highest degree of success in the film industry. A small number of British kings managed over half a century to survive and earn their Golden Jubilee.
So why credit card companies called the high bids in the name of “Gold Card”. But what about the real gold that captures your attention? What gives this yellow metal this value?

Only three billionths molecules in the Earth’s crust is gold. Although the world’s oceans has huge amounts of gold, although it attempts to restore it from the water has never been successful. If all the gold polished was formed into balls, will be less than 25 meters. However, some gold exists naturally in a relatively pure state (as opposed to him, and he undressed). Enables humans Btgmaha the small quantities without the need for chemical extraction. After the harvest, gold is one of the most versatile metals on earth, formats and form since Alcatulecy era, making it one of the first metal used by humans. The ancient peoples also used in Egypt and the Middle East gold for religious rituals. As well as in the decoration. It also recorded that the first use of gold coins was in the reign of King Croesus of Lydia about 600 BC. That gold also softer and more flexible than any other metal.
It is one of the heavier elements; heavier, even, of the lead. Ten teaspoons of gold weigh as much as seventeen teaspoons of lead.

May 9, 2013
Gold burns bright for Dubai’s jewellery trade

Gold burns bright for Dubai’s jewellery trade

Dubai: The UAE’s version of the gold rush could have pumped in a staggering Dh10 billion plus through the wholesale and retail bullion and jewellery trade in April.

It was set off by a buying and selling frenzy in the 10 days from the afternoon of April 11, when gold prices took a dive, and saw volumes of gold touch 2-2.5 tonnes a day against the average of 1-1.5 tonnes a day in more sedate times.

Volumes have since settled down to normal levels in the first few days of May as gold prices traced higher.

Gold closed at $1,470.75 an ounce on Sunday. But the jewellery trade believes there is another spurt of buying at the retail level starting from last weekend and lasting all the way to May 13 — the traditional Indian gold buying period of Akshaya Trithiya — and a few days thereafter. Tourists to the UAE are also joining in.

“Even if funds or central banks were to dispose off their bullion assets, gold is one commodity where the lower prices go there is a corresponding surge in retail buying,” said Shamlal Ahmad, director of international operations at Malabar Gold. “Conservative estimates place the overall volumes, both retail and wholesale, in April here at more than 50 tonnes — there is no shrinking in the appetite for the metal.”

During the 10-day period of extreme volatility, there was a marked increase in the number of buyers who sought out gold coins and bars for their asset portfolios. Market estimates place this percentage as up to 30 per cent of the transactions that were done at local gold stores last month. This is against the average of 5-8 per cent otherwise.

Even on the institutional side, there has been support for the metal. “The regional gold market has seen strong surges of institutional buying for investment purpose during the last couple of weeks due to the price drop,” said Tarek Al Mdaka, managing director at Kaloti Jewellery Group. “There is still good demand, especially for smaller gold bars and we expect supplies to return to pre-crash levels by next week… if there are no unexpected price movements.”

Retailers confirm that concerns over supplies have eased up considerably and premiums for confirmed orders have softened. These premiums had touched $10 an ounce at the height of the demand cycle. For Akshaya Trithiya, jewellery chains are leaving out no strategy to get the customer to come in and seal a purchase. Campaigns include a price lock-in on the gold value for advance orders, 25-kilo raffles and waiver of making charges on gold coins. The latter gameplan targets shoppers who would prefer to make small-ticket purchases.

In less volatile times, the month of Akshaya Trithiya represents the second best volumes for the trade after the promotion-heavy phase during DSF. “The majority who buy gold and jewellery during Akshaya Tritiya do so for auspicious reasons and we are sure the price volatility will not affect demand during this period,” said John Paul Joy, executive director at Joyalukkas Group. “Yes, there will be pressure on margins, however I guess the volumes will help maintain — and maybe even better — the bottom-line.”

Source: Gulfnews

May 6, 2013
Gold Speculators in UAE are turning to liquidate the possession of gold

Gold may be exposed for New Users selling pressure next week because of Exchange Traded Funds and institutional investors, but demand from individual investors may occur stability in prices.

Said Gerhard Schubert, head of commodities wealth management in Emirates NBD, the last in the research report “outflows from ETFs, and which has been reported as taken place by a large and important so far this year, it may not all be like what they look like. There was a significant change in the structure of prices for gold holdings in unallocated accounts in Switzerland. According to reports that some Swiss banks have made the cost for customers who keep gold in the most expensive non-dedicated accounts of assigned accounts. The reason for this may be that banks will have capital requirements much higher because of the gold in the non-dedicated accounts, where they are elements within the list of the ban on the balance sheet. ”

Then he added, “that in spite of some conflicting data, the apparent trend seems he tends to a strong recovery in the United States. This will not be positive to the expectations of gold, unless there is clear and inflationary trends, and may be away from this scenario for years. He said that the current price levels reassuring, but it seems that our customers are looking to liquidation, at least for some of their holdings. ”

On Friday, it was trading lock for the week at $ 1,464.20 an ounce of gold.

Said Pradeep Unni, senior manager at Richcomm Global relations that “preparing gold imports from India, the largest consumer in the world, after the fall under the central bank purchases from abroad, to reduce domestic demand and reduce the current account deficit.”

The Reserve Bank of India in his annual cash that banks will be allowed to import gold bullion in shipments only so that only meet the real needs of the exporters of gold jewelry.

May 6, 2013
Dubai Gold Price Strikes High Record
Dubai is a city famous for its gold market over the entire world. Almost every visitor is aware of this or hears about it as soon as they land in the city. Probably that is the reason why it is referred to as a ‘City Of Gold’. This beautiful city is covered with a large number of Gold Shops that are completely tax free. There is no other gold market across the world that can match up to Dubai’s gold market. The majority of gold that is imported into the city is from some Asian countries.

The Fluctuating Gold Rates in Dubai

Gold Rate in Dubai changes hour by hour because of the heavy amount of traffic. The city imports a huge amount of this precious yellow metal from India. As a result prices are low for the foreign investors that export the gold in other places. Some of the high profile investors of the world indulge in trading of gold. The daily market has its ups and downs which can reward these investors with highs or disappoint them with the lows.

Gold Trade in Dubai
- The current gold prices in Dubai have been shaken and become more expensive in years.
- Over the last few decades Dubai Gold Price was constantly on the rise owing to lower trending.
- The gold trade in Dubai has surpassed in the year 2012 and has attained the highest record with more and more of this metal being exchanged and stocked in the emirate.
- The official figures indicate that the gold trade is estimated to be higher than last year.
- Due to less supply of gold from the countries producing gold there is an increase in the demand of gold. This increase in demand of gold has caused the gold price to rise above its previous price.
Gold Price in Dubai

There was a decline in the Dubai Gold Price in the first month of 2013 recorded by the Dubai Gold Exchange. Some financial analysts suggest that gold will remain the main component for large investors in 2013 and beyond. Gold rate in Dubai has currently reached new heights as many investors have accepted the results of the low credit rating of U.S on the down trading global economy.

Gold Interest Rates
- Gold Rate in Dubai has almost doubled since the onset of recession in 2007 and has increased this summer. This sparkling yellow metal is not just a currency substitute today but also utilized in a number of industrial purposes.
- Due to rise in its price for the first few months of 2013 there was a drop in its usage in dental services. There were many manufactures that opted to cut back on its coating on several electronic products in order to save money.
- According to the Federal Reserve gold interest rates will be low for a minimum of two years, as per the estimation by economy experts. The lower interest rates might further cause the dollar value to erode and increase its value.
May 6, 2013
Low Gold Price in Dubai Triggers Buying Spree
Gold, the yellow metal, is the preferred mode of investment globally. Last two years saw gold prices shooting up tremendously as large numbers investors began to put their money in gold foreseeing the demand and security. The general investors also find gold as a secure cash investment for their future.

Dubai – The Gold Market:

Dubai is a large gold market for both gold bullion and large and small scale jewellery. Dubai stands second in world on the distribution of bullion. Dubai reportedly has a thousand of gold outlets and with the highest number of shops in Gold souk, the gold market of Dubai. Like any other Middle East market, Dubai also has the highest number of gold buyers compared to investors. Even at the time of recession, Dubai tried to accelerate gold purchase like tax discounts to tourists. This caused people from various locations to fly to Dubai to buy gold.

Latest dip is boon to private buyers.
- Last week from 16^th day of April 2013, world market witnessed a historical dip in Gold prices due to high selling of Gold. These have alarmed the market and big shots who had greater investments in gold.
- Decrease of gold price in Dubai has triggered the purchase of gold by small investor. A lot of big shots selling their gold, small investors were found purchasing gold.
- The surge in gold price last two years deprived small investors the privilege of buying gold. The latest developments in gold market had brought back the customers to the jewelry stores. Customers find this the best time to purchase gold even though analysts are skeptical about gold market trends in upcoming months of 2013.
- After gold price in Dubai market dipped, Dubai souk was found crowded with tourists and local buyers who were celebrating the relief by purchasing gold.
- Gold Jewelers in Dubai in also recorded highest purchases of recent times as people were rushing to the stores to purchase gold in advance. Indians were found aggressively purchasing gold from the stores of Dubai.
- Jewelry shop owners are optimistic that the buying trend to continue till any other news hits the gold market.
Late in the last week, world gold council also reported scarcity of gold bullion as a result of the buying spree. Jewelry shops were also found running out of gold coins. There was huge pressure on small scale and large scale shopkeepers of Dubai to keep up with demand. The drop in gold price in Dubai had helped Arab citizens and the resident foreigners to buy gold in advance for personal purposes like Marriage and for gifts. Gold prices dropped at the perfect time nearing to summer holidays and marriages which in turn triggered the gold purchase.

Dubai is always best destination to buy pure gold and well the latest market trends suggests good scope for gold lovers to accumulate their favorites. It has been able to mark its way ahead among all other countries which sell superior gold.
May 5, 2013
UAE Gold witness Limited gains in gold prices locally

Gold rate– UAE gold prices witness limited increase in gold between AED and 1.5 dirhams per gram, compared to rates of price end of the previous week, according to the stated price indices in the markets of Dubai and Sharjah.

Officials confirmed the jewelry shops and gold artifacts in Dubai and Sharjah, that these price rises, reflected in a very limited sales, which saw a decline estimated between five and 10%, compared to the previous week.

The price of gold grams caliber (24) carats, 175.75 dirhams, an increase of 1.5 dirhams, by the end of last week, while the price of Gram-carat (22) carats ‬ 165.75 dirhams, an increase of one dirham.

And the price of a gram of rounds (21) carats to 157 dirhams, an increase of one AED, while the price of Gram-caliber (18) carat 134.5 dirhams, an increase of 1.5 dirhams.

The official said sales in the shop «Romaizan For Gold and Jewellery», Mohammed Eisaei, that «the recent price increase did not prevent dealers from demand for buying works, though sales rates were less than the previous week in limited proportions not exceeding estimates 5%».

He attributed the weakness of the effect of the price increase in sales activity, to the fact that the current prices attractive to buy, did not offset the declines recorded by mid-April gold last year, which exceeded 20 dirhams in love.

In turn, the official said sales in the shop «days Jewellery», Jalish Saqr, said that «sales fell to a limited extent, affected by the increase in gold prices to two consecutive weeks, pointing out that these did not raise the price increases to their rates as they were in March.

He stated that the «Iqbal dealers to still going to buy jewelery in preparation for weddings and summer holidays, especially from the citizens and residents of Arab nationalities, while the decline in demand from consumers of Asian nationalities.

He stated that «those limited increases have contributed to the decline in sales ratios up to about 10%, compared to the previous week.

As a sales manager in a shop «Alujain for jewelery trade», Ahmad Ebadi, he stressed that «the price of gold has seen considerable variation ranged from heights between two dirhams and three dirhams, even settled the day before yesterday when ‬ 1.5 dirhams per gram, as reflected rates limited sales, which fell ‬ 10%, compared to the previous week.

He explained that «the demand was to buy the currency and gold bullion and jewelery, especially from Ayari (‬ 22), and (‬ 21) carats, which means that the demand for the biggest transformation of savings and investment, with the start of price indices of gold in return for rising gradually».

May 5, 2013
AED 100 billion UAE stock gains in 2013

As financial analysts gains UAE equity markets since the beginning of the year about ‬ 100 billion dirhams, noting that global reports classified the UAE as the second best performing market in the world in ‬ 2013, after it achieved an increase of ‬ 28% since the beginning of the year until ‬ 24 last April.

They pointed out that is not affected by shares of blue chip companies, especially Emaar decline in first-quarter profit and maintaining the price levels high and reached shows that investors still prefer to invest in those companies and not to sell to lock in profits, indicating an optimistic view of the performance in the coming period.

For his part, said a member of the American Society of analysts, technicians, Hossam al-Husseini, said that the performance of the local stock markets in the last week is an extension of the performance of the market since the beginning of the year, it is still the leading stocks are seeing active trading.

Husseini explained that the rise of blue chip stocks was reflected in the rise of the stock remaining in varying proportions, and, consequently, taking the market upward path led to the existence of a positive psychological state among dealers, and returned speculation on selected stocks.

Husseini attributed not affected leading stocks, especially Emaar Properties, the decline in first-quarter profit, to those heights achieved proactive stock before the announcement of the results.

Husseini predicted that the market indices maintain their current levels for a while, especially in light of the approaching tough resistance points such as the level of 2200 points to the index of the Dubai Financial Market.

He stressed that the cohesion of heavyweight stocks in the index will contribute to the stability that may peppered with a slight decline in the indicators to support the strong points such as levels of 2050 points, 1970 points to the index of Dubai.

The head of the research department and Financial Studies at Al Fajr Securities, Maha treasure, said a report released during the week of service (CNN Money) Affiliate Network (CNN) Asking the stock market in the UAE, the second best performing market in the world this year, After recording a rise of 28% since the beginning of this year until April 24 last year.

She treasure that the reasons for the rise of stock market indices local not limited to stock investors and their movements in the market which reflected optimism the future of the real estate sector, but extended to include the reports issued by the corporate credit rating as well, noting that the agency Standard & Poor’s, which raised the credit rating of the company (Emaar) to BP Plus degree, which is the highest non-investment grade, saying that the new projects and higher revenues will contribute to stimulate the company’s income.

The senior analyst stock in a company directly for financial services, Essam Abdel Alim, said that the Dubai Financial Market Index recorded an increase during the three sessions of the week affected by the positive results achieved by companies in the first quarter of this year, while the index of the Abu Dhabi market during the sessions of trading due to the high indicators five sectors.

He added that the positive reports released recently, and contributed to increased investor confidence report prepared by the Foreign Investment Office of the Department of Economic Development in Dubai, showed increasing the volume of direct foreign investments in Dubai last year by ‬ 26.5% compared ‬ 2011 to about ‬ 29.4 مليار AED, as predicted by the Director General of the Chamber of Commerce and Industry (DCCI), Buamim Hamad, to achieve a growth rate of Dubai’s economy during the current year of between 4 and ‬ 5%.

May 5, 2013
Gold prices in Dubai today achieve an increasing gold sales

Dubai Gold Prices – Gold prices rose slightly in Dubai altitudes between AED to two dirhams during this week, according to list prices in the gold market in Dubai on Saturday.

Said many gold traders in Dubai that the rise in gold prices did not affect the movement, where sales rose gold sales in Dubai during the last month, nearly three billion dirhams, according to a report by the gold exchange in Dubai

Gold prices recorded in Dubai today 176 dirhams per gram 24 carat, scoring gram 22 carat 166 dirhams Gram-record 21-carat 157 dirhams scored gram 18 carat 135 dirhams.

Said one of the gold traders in the gold market in Dubai that the recent increase in prices did not prevent traders from buying appetite works and that there is a marked increase in the purchase of gold bullion, especially with expectations to resume gold prices to rise again.

Added that the dealers are still going to buy jewelery in preparation for weddings and summer holidays, especially from the citizens and residents of Arab nationalities especially before the summer holiday season.

As a sales manager in a shop «Alujain for jewelery trade», Ahmad Ebadi, he stressed that «the price of gold has seen considerable variation ranged from heights between two dirhams and three dirhams, even settled the day before yesterday when ‬ 1.5 dirhams per gram, as reflected rates limited sales, which fell ‬ 10%, compared to the previous week.

He explained that «the demand was to buy the currency and gold bullion and jewelery, especially from (‬ 22), and (‬ 21) carats, which means that the demand for the biggest transformation of savings and investment, with the start of price indices of gold in return for rising gradually».

The indicators in Dubai gold market refers to a wave of appetite for buying gold bullion to take advantage of the low price of gold the middle of last month.

May 5, 2013
Gold price drops by Rs 120 to Rs 27,750 per 10 gm

New Delhi: Gold prices on Saturday dropped by Rs 120 to trade at Rs 27,750 per 10 grams in the bullion market here due to subdued demand at prevailing higher levels.

However, silver held steady at Rs 46,000 per kg in restricted buying from industrial units and coin makers.

Traders said subdued demand at current higher levels kept gold prices under pressure.

Gold of 99.9 and 99.5 percent purity fell by Rs 120 each to Rs 27,750 and Rs 27,550 per ten grams respectively. It had gained Rs 255 yesterday. Sovereign followed suit and shed Rs 100 to Rs 24,000 per piece of eight gram.

On the other hand, silver ready held steady at Rs 46,000 per kg while weekly-based delivery rose by Rs 160 to Rs 45,160 per kg on speculative buying support.

Silver coins met with resistance at prevailing higher levels and dropped by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

May 5, 2013
Gold fails to extend gains; weekly loss mount to Rs 350

New Delhi: Both the precious metals, gold and silver ended lower in the bullion market during the past week on sluggish demand at prevailing higher levels despite firm global trend.

Traders said investors shifted their funds from bullion to rising equity markets which kept the metals under pressure.

The domestic markets, which normally take cues from the internatonal trend, remained jittery and failed to recover. Gold in overseas maekts rose 1.8 percent to 1,489.20 dollar an ounce and silver by 2.1 percent to 24.28 dollar an ounce.

In the national capital, gold of 99.9 and 99.5 pecent purity commenced higher at Rs 28,200 and Rs 28,000 per ten grams on fresh buying. Later, it met with stockists selling on back of sluggish demand at prevailing higher levels and settled to Rs 27,750 and Rs 27,550 per ten grams respectively, showing a loss of Rs 350 each from previous week’s level.

Sovereign followed suit and declined by Rs 200 to Rs 24,000 per piece of eight gram.

On the other hand, silver ready lost Rs 900 at Rs 46,000 per kg this week on reduced offtake by industrial units while weekly-based delivery managed to close higher by Rs 160 to Rs 45,160 per kg on speculators support.

Silver coins dropped by Rs 2,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces on fall in demand at existing higher levels.

May 5, 2013