Explained the Federal Customs Authority that preliminary statistical data during the month of February of this year showed that the gold came in the top of the list of goods that are imported $ 8.4 billion dirhams ($ 2.28 billion), followed by diamond $ 3.4 billion dirhams, then cars worth AED 2.9 billion, jewelry worth 2.3 billion dirhams
And occupied as well as top goods were exported to overseas in February 2012 $ 6.4 billion dirhams, followed by polymers of ethylene and copolymers of propylene in primary forms $ 1.7 billion dirhams, and jewelery and parts thereof valued at 234 million dirhams, and petroleum oils and other value of AED 231 million.
The Authority indicated that the diamond came at top goods that have been reexported in February 2012 worth 3.4 billion dirhams, then ornaments and jewelry and parts valued at 1.4 billion dirhams, and cars worth 1.2 billion dirhams, then telephones billion dirhams. The Commission stated that total value of trade markets and free zones in country during month amounted 1.2 billion dirhams.
This comes at a time which amounted to an average increase of imports during the month 8%, rising value country’s imports of nonoil 45.9 billion dirhams in February 2011 to 49.5 billion dirhams in February, an increase of 3.6 billion dirhams. While the value reexport 15 billion dirhams during the month.
International investors can not repudiate the theory of survival of gold the safest shelter par excellence for those who have large amounts of capital. Although the European sovereign debt crisis and slowing global economic growth, decline in the price of gold almost 15 percent, compared to its level recorded a year ago, when the price exceeded $ ounce 1900. The other safe havens for investors, such as Treasury bonds, German, French or Belgian, they are affected by the events contrary to what analysts expected, as it was the enthusiasm of investors to buy crazy, making returns below zero.
Swiss Experts attributed the decline in gold prices as a result of demand for buy entry phase of stagnation, falling in the second quarter of the year 7 percent compared to the same period last year. These data reflect the fact twofold, on the one hand notes recording a jump in demand central banks to buy gold more than doubled, from 66 million tonnes to 157 million tonnes. The central banks of Russia, Kazakhstan, Turkey and Ukraine, the most prominent of driving these purchases, including that obsession raise its gold warehouse stock intensifying day after day.
On the other hand, the analysts monitoring retreat gold buying in India more than 38 percent, which means that the Indian central bank bought about 180 tonnes of gold, while purchases fell China’s central bank about 7.5 percent so that it did not exceed the quantities 145 tonnes. India and China about 45 percent of global gold markets. Analysts pointed out that requests to buy gold from India and China, played a leading role in raising prices to record $ 300 an ounce the end of the nineties of the last century, and soon surpassed six times last year.
In any case, does not attribute Switzerland collapse experts asked to buy gold in China, to the slowdown in economic growth, but to the new options offered on the Chinese middle classes, which boosted their purchasing power. The markets were highly volatile in the past, prices were high, which means that the basket of investments before the middle classes were limited. And so was the only way out in front of them gold.
And can be seen today in many layers in the developing countries the ability to buy real estate. As stock markets entered a more stable phase. And noted the decline in demand for gold automatically, if we collected all these barometers. Analysts keeps Swiss with a good degree of optimism about gold. It did not rule out that rising prices again as of next fall, in conjunction with the Federal Reserve, the central action and revival of Indian demand for gold.
Gold prices in UAE rises 3 Emirates dirhams per gram
Gold prices in UAE rise again for the third week in a row between three to four dirhams per gram of various carats of gold according to the prices of gold in Dubai and Sharjah today with Compare gold prices for the last week and which Exceeded 12 dirhams over three weeks
The officials gold sales in Dubai said that rising gold prices in the past week has had a major impact on the movement of gold, where sales dropped by nearly 60 percent with limited movement on the sale of old gold by consumers.
The price of a gram of gold in the UAE today (24) carats 210.75 dirhams, up 3 dirhams from last week, while the price of a gram (22) carat 198.5 dirhams, scoring gram (21) carats 188.75 dirhams, and the price of gram ( 18) carats 161.20 dirhams.
Says Abdullah Mohammed Tuhami sales manager in place of «Jewelry teller» Trade jewelry that increasing gold prices in the UAE for a third week may have contributed to the lack of sales and the decline of up to about 60% compared to last week explaining that the rise in gold prices in the UAE for more than 12 dirhams to pay some consumers to resort to selling gold Jewelery to take advantage of current high gold prices.
On the other hand, said one gold dealers in Dubai gold market that most gold traders await improved the situation and preparing for festival (Diwali) Indian, which resolves after about a month, which exceed the sales of gold and buy gifts, which may contribute to the increased gold sales Emirates during that period, especially with coincided with the Eid al-al-Adha
Gold price Today Dropped with the rise in the dollar and investors stopped after pushed prices up 16% from the lowest level this year after measures of global central banks to support faltering economies.
And led purchases of bonds and plans to buy them on the part of central banks in the United States, Europe and Japan for heavy turnout for gold as investors expect rising inflation, prompting price of the precious metal on the level since February in the previous session, according to Reuters.
The investors hope that China take similar action after data showed on Thursday that China’s manufacturing industry continued huge contraction in September.
The preliminary reading of the recovered H-index. S. P. C Purchasing Managers China’s manufacturing industry slightly to 47.8 in September from its lowest level in nine months at 47.6 in August to remain below the level of 50 separates contraction and growth. The production index fell lows levels in ten months.
Said Lynette Tan, an analyst at Phillip Futures is not a significant improvement. There is still shrinking, so I still expect more stimulus from China, which may support gold.
Spot gold fell 0.2% to $ 1765.97 an ounce after hitting a session low of $ 1771.89.
The precious metal rose to $ 1779.10 on Wednesday, its highest level since February 29.
The dollar rose against the euro and a basket of currencies, has placed pressure on gold and other dollar-denominated commodities initial such as copper and oil. And U.S. futures fell for gold for December delivery was 0.2% to $ 1768.69 an ounce.
Platinum fell in the spot market 0.7% to $ 1620.99 to after strikers said in Lonmin platinum production company Home in South Africa earlier in the week, they will return to work after six weeks of labor unrest that killed 45 people.
Chinese Gold helped Egyptian citizen much and spread in Egypt prevalent severe, but recently appeared carat gold 12 and 14 in Egypt and became more prevalent and so making workshops Egyptian and some doubt that he went Chinese, but it went by 12 part or 14 part to 24 per part and the price of a gram 20 pounds Egyptian and this gold-making specifically for men Egyptian who clings to the customs and traditions network gold and spread carat gold 12 in popular areas and especially Embaba and Warraq and saw a blockbuster in recent months and specifically after the rise in the gold price.
And had confirmed Rafik Abbasi Chairman of the General Division of gold in a statement that carat gold 12 and 14 is the new way and innovative cheated trade and mostly that this gold went Egyptian and not Chinese has workshops Egyptian manufactured and even if Chinese is gone smuggler within the country way illegal and called on all Egyptian citizen encounters this type that has a benefit of stamp and balances for punishment of sell and confirmed that the proportion of gold in a live 12 and 14 is not bad and that is influenced by water and not weather factors and will not change color, but it enjoys solid also because the ratio of not a few, but gold is only one way to save the value and after the joy of the Egyptian citizen down the price of gold, and was considered the biggest designers gold for gold Hu gold plated has no value real gold, why spread to the middle class trying to stick social by buying large amounts of it in order to preserve appearances and social prestige, but the real blame lies on the gold shop owners who promote this gold to be real with the aim of a quick profit.
UAE the most prominent markets traded Italian gold after U.S. UAE is exceeded of the most important countries with economic powers in the world it facing the capital light second as they are called, a Dubai city development and progress and more what distinguishes this city it is famous capital shopping where there are many markets and the global brands various investments and most important Astosmaradthahalaa is Italian gold, which is traded to the movement an excellent buying and selling markets, Dubai City
Indeed, Dubai has the different nationalities that come for sightseeing, shopping and then increase sales and purchases for various industries, especially gold and specifically gold Italian given the multiplicity of types and forms dazzling alloy and jewelry and artifacts and gold jewelry value and appearance are impressive than dazzle tourists forms Fikblon to buy heavily and gold Italian is consumed and traded in Dubai heavily high purchasing claim to profits huge financial which drew the attention of the trade sector and industry in Italy Vorteuroaacama factory or center for the manufacture of jewelry and jewelry and gold jewelry, precious in Dubai and it is in recognition of this city and set it apart from the rest of the world’s cities that have multiple markets for gold in general and Italian private and this would enhance and strengthen economic entity Emirati very significantly in the coming period and helps to increase the development and strengthening of the infrastructure of the state and increase the technology, which works on the growth and prosperity of the state even more in the future to be one of the largest economic entities and stronger countries producing and exporting gold and other industries in various fields .
The government has a law against gold, as it imposes on citizens holding pure gold bars and coins and that was because of the loss reserves during the Indochina war. It announced that the old holdings in pure gold had to be converted into jewelry. The pure gold bars and coins to be treated only by licensed dealers.
Take cash only as a result of this legislation that impact negatively on the official gold market. In this way also for smuggling and the black market, and they are jewelers and gold traders.
In 1990, India was on the verge of default in foreign liabilities side as she caused a big problem in the foreign exchange problems. Then Control Act in 1992 and liberalized import of gold in India. taxes. Government provided in the foreign exchange problem by allowing free imports and tax gain. Expanded this step in the gold market showed informal trade and smuggling and the black market. Therefore India is one of the most sensitive to market price of gold in the world
The estimated reserves of gold in India to be in the range of 10,000 to 13,000 tons
. Indian consumption of gold 25% of world production of gold total.
India has a gold production is very limited from about 9 tons in the domestic production of gold is very limited
The gold when it comes to investing in second spot after bank deposits and savings and investment is the car .. India is the world’s largest consumer of gold jewelry and investment has allowed commercial banks to import gold from jewelers and exporters for sale or loan in 1997 by the Reserve Bank of India is involved in 13 banks in gold imports at the moment. As a result, and reduced the difference in the international and domestic prices of 57% during 1986 to 1991 to 8.5 percent in 2001. In society the trend to keep Indian gold .
One of the main centers prohibit the consumption of gold in the world
LONDON (exchange of information)
New York (home of futures trading)
Zurich (physical turntable)
Istanbul, Dubai, Singapore and Hong Kong (entrances to important consuming regions)
Tokyo
Gold is traded in Mumbai and Ahmedabad. Home from India and commodity exchanges, a commodities and derivatives exchange limited national, and Multi Commodity Exchange of India Ltd is also traded in the Multi Commodity Exchange of India Limited National.
High status carried the gold souk in Dubai, unique strategic location opposite the the bank of the Al Khor one hand Deira awarded a landmark on the map of tourism and trade in Dubai, and the advantage of market history and holds heritage inherent, gold is closely linked with an ornament Emirati women in the past, and boast people wearing gold in events and weddings which is one of the customs and traditions of the people of the UAE.
Dubai gold market is one of the most important markets still maintain the simple popular style is Poseur,The market is a street lined on the flanks of jewelers and jewelry in a coherent and linear, while stretching gold shops in the market and through the narrow alleys and lanes,show wide and varied and different from jewelery and gold ornaments of the caliber of 81 and 12 and 22 and 42 carat gold that fail have hearts of women in the hope of getting a few of them, and reflect the movement of shoppers and active tourist delegations and market reality, which was not affected by the sales and purchases with the high gold price .
Gold prices
Said Ahmed Hassan worker in jewelry shop that Dubai gold souktaxi manufacturing vary depending on the quality and weight of gold and put them both that they «filled Local» or from Bahrain and Saudi Arabia, and generally gold prices are high at the moment, and despite the high prices, but the market turnout of people, but he is not measured prior periods, which stretches for more than three years.
Where turnout was on the purchase at its peak and peak activity, people currently prefer switch to sell gold in many cases, and another category of people buy gold as a future on the weddings, not to mention some seasons moving people where to buy gold, such as travel and buy gifts for families for some Arab nationalities.
Given the reality of the market and gold mining stocks, it turns out that gold rose significantly during the last three years, he also on the rise on a daily basis at two Darhams almost from day to day, and if dropped it re-rise the next day and so on, pointing out that yellow gold is Hot for the Arabs, as young girls prefer to buy white gold and diamonds for events and weddings in particular.
Dubai gold souk and one of the most prominent places that are placed on the list of priorities and concerns, movement purchasing or switch gold and sell it did not stop before Eid al-Fitr last , where many demand for gold significantly, and there is a large turnout of African citizens and the particular procurement.
One round gold souk in Dubai draws you into a beautiful and shiny world , and store fronts gleaming yellow metal’s increasingly glamorous with the reflection of sunlight and bright lighting market,Dubai gold souk has a long history and heritage authenticity translate the reality of the UAE society and simplicity,As yellow gold was Hot and widely used in the past, With the opening in the area, varied designs and income white gold, pink and other market, a major development occurs reflected on the taste of the UAE in the new selection away from the neglect of the yellow metal heritage.
No wonder if you feel the pride and fascination when you’re on the move between the corners of Dubai gold souk, it is one of the biggest markets for the retail sale of gold in the world,
It provides a large bundle of scenery and complex nature local and Indian and global designs . Also you can find in dubai souk a variety of gold coins, bars,bullion and also global value precious watches , along with unique jewelry and attractive designs and adorned with the most expensive and precious gems.
Officials expressed Forex Trading companies hope to obtain a license to engage in Forex Trading activity in Dubai, some of them expressed readiness.
An official at one of these companies,said the license available in Dubai is the representative office, which represents the link between the clients in the region and the parent company.
Yusuf Malik relations manager and development company «FX Solutions», said his company is seeking by all means to have the Office of licensed and certified in the UAE in order reassures all investors in their dealings with , and continued saying: may not understand idea of establishing a representative office, we want an office exercises Full forex trading activities, but we are studying the matter in all its aspects.
Precious metal prices continued to rise sharply for a third week to exceed resistors technical analysis and touches the level of 1775 U.S. dollars, up $ 45 for the weekend and by 2.5 in the water and a total 6 in the water for the last two weeks of trading, and all these rises were unexpected in light of decisions of quantitative easing We expect further gains with the repercussions of this package third of operations quantitative easing of the federal U.S. (FED) and despite the fact that many ruled out the issuance of this decision within days the current, but the repercussions of aggravation latter case without further delay in the injection markets package to stimulate new assumed on the track all U.S. and European stock markets even Arab bourses green and expect more good omen in the coming days.
September could see further gains, as usual every year and all precious metals breathe a sigh of relief about the rising prices rally towards new highs gold is exceeded the narrow scope and break the $ 1,600 barrier and the $ 1,700 barrier and heading towards the $ 1,800 barrier and is the current cases of actual purchase of Before the biggest supporter investors about further hikes for fear of obsessed with inflation because many linking quantitative easing packages and rates of inflation and despite assurances U.S. Federal Chairman (Ben Bernanke) to monitor the rates of inflation and maintain low interest rates until 2015, but all of this does not preclude the direction of most of the liquidity quantitative easing to metal safe haven hedge against the repercussions of inflated prices and may agree or disagree with the rationale for quantitative easing at this time, but the phenomena present all positive and calls for cautious optimism to avoid cons previous stages and witness to this that rises euro and European currencies are not due to the weak dollar (euro equivalent 1.318 dollar) only and but as a result of factors other positive from the region European such approval the European Central (ECB) to continue to plan on buying bonds and upheld the German constitutional court to Angela Merkel and rescue fund EU with win Dutch pro-European plan in the last election and may be the current improvement in global markets and Walid concerted mass transit from the neck of aggravation.
gold will remain in the high and behind him the rest of the precious metals until the end of the year and the middle of next year because the Reform and Development Project requires months, not days, and when we see price stability and stop the rise realize that reports GNP, average income and economic activity are all positive and it seemed the world is moving towards recovery phase.
As for silver accompanied gold upward sharp and achieved ounce peak weekly Aljdidhand 34.80 dollars, up $ 1.24 from the start of trading and rose by 3.70 in the water and exceeded $ 35 is very close during the trading next week and silver received strong support from the industrial market next to the metal markets precious.
Platinum achieved $ 116 high only during the last week of the percentage rise 22 in the water during the last month where the level ounce in mid-August 1393 and $ closed Stock Exchange Nyumks on the price of 1712 dollars last Friday and expect spikes of Platinum in the coming days as the rest of the precious metals and the impact of repeated strikes by miners in South Africa, the largest source for the production of platinum in the world.
The precious metal palladium owner in gains and achieved a $ 36 increase from the beginning of the week and closed at the level of $ 695 per ounce.
