Author: Team Editors admin

Dubai a safe destination favored by investors

A recent report that foreign investors attracted by Dubai’s real estate market and the economy taking into stability.
described the report prepared by the «Celikt property» Dubai as the point of gaining more attractive. Confirming the presence of signs of recovery in the emirate, which gave it a safe destination place. Although impurities of the global financial crisis hit as do others.

In an interview with the Reuters news agency, leading Farouk Susa, senior analyst at Citigroup Dubai, the reasons why Dubai target for many buyers.

Susa said perceptions indicate that the real estate market hit bottom. Adding that the market in Dubai remains rational, in the context of running behind a long-term investment.

Dubai goes on to attract investors from other regions in the Middle East, as well as the Indian subcontinent, Pakistan and up to Russia, who seek to take advantage of the real estate market which is getting stable.

Real estate assets

Sure that perception in the context of recent data confirmed that foreign investors bought real estate assets in the emirate in the first half of 2012 ranged from about 28.3 billion dirhams.

The Dubai government recently revealed that Indians formed the backbone for buyers of luxury apartments, and commercial space in the Burj Khalifa, the tallest building in the world, during the past six months of the year a total of 814 million dirhams.

The Iranians came in second place in their purchases of the tower, worth 470 million dirhams.

The report pointed out that real estate plays a prominent role in Dubai’s economy, stressing that the increasing investment attraction, no doubt have a positive impact. Wages and prices in the emirate, and the emirate and steady recovery developed (safe haven).

Attractions

On the level of tourism praised the Wall Street Journal renaissance tourism in Dubai, saying, Spending Dubai huge on islands industrial, and other attractions that live up to the summit, made a visit that capital essential, adding that there is no need for lavish spending is replete with citizen attractions also cheap. She added that the tour in the gold market Almsdan on the bank of the creek in Deira, lend elegance to the visit, where teeming with dozens of shops goldsmiths.

The advantage of Dubai the beautiful beaches, where Jumeirah Beach is open and one of the most famous city landmarks, drawing tourists from all over the world, of Russian tourists and Arab families, and the Indians and Pakistanis.

Dreams desert

Said “Vail Daily” site under the title “Dreams desert in Dubai,” said the emirate teeming with tens of tourist destinations. It is a city completely as one would imagine, a huge emulate Las Vegas, in the spirit of Middle Eastern, and world-class, and unique. And attractions those Amahha rights once that degrades trip in Dubai International Airport, which is undergoing major expansion of operations. This is what distinguishes Dubai, known as “the capital of the Middle East entertainment”, which truth be told is huge. The rich Dubai shopping malls teeming with more upscale fashion in the world, and the names of global chefs have opened their own restaurants in the city.

from : Al Bayan news

August 22, 2012
Gold sales rate in eastern region reach to 50 million SR during the Eid al-Fitr

Gold market in the eastern region has been very active during the day of Eid al-Fitr and the previous days for it, accompanied by a rise in the movement of gold sales amounted to 70%, according to investors in the sector who said that higher sales latest active movement within the sector have brought gold sales volume in the Eastern Province during the holiday period toSR 50 million.

They explained that the reason for the popularity is due to the desire of citizens to buy gold on the occasion of Eid al-Fitr as well as the majority of social events coincided with this time of year.

Ali Dajani “vendor in the gold shop” There tangible difference between the movement of sales holiday period last year for this year from the same period as there is a rise of 15% in the movement of gold sales during the current year, and the price of gold remained volatile margins simple during the month Ramadan and grams of gold worth in this period, ranging between 195 and 215 riyals.

On the other hand asserts member of the Committee of gold jewelry Chamber East Jawad Arbash that there huge demand for gold shops during the holiday period and the last days of the month of Ramadan, which in turn impacted heavily on the Activity Movement sales to rise as the gold sales volume in the eastern region during the Eid al-Fitr and up to 50 million riyals and by Movement sales activity in the gold sector.

Arbash explained that the gold shops in the eastern region exceeded the 1000 shop, helping to raise the total value of net gold sales volume coupled delighted by in this period by the citizens and that are associated with the majority of events and social functions.

The businessman said Abdul Ghani Al-Muhanna said the large number of social events and solutions the occasion of Eid al-Fitr of the most important factors that led to the movement of gold sales activity in the eastern region, which witnessed the gold market during the last days of the holy month of Ramadan and the days of Eid al-Fitr.

August 22, 2012
Gold rises 1% to its highest level in three months

The price of gold rose to its highest level since May on Tuesday on speculation that the European Central Bank will intervene to help Spain and Italy, while platinum also recorded its highest level in three and a half months after that sparked violence in South Africa mine concerns about supplies.

And the price of the yellow metal 1.2 percent, its biggest daily gain in nearly a month and extending its rally for the fifth consecutive session after reports that the European Central Bank will lower borrowing costs for Spain and Italy.

And won gold with technical support as skip moving average in 100 days. But analysts said that moving average in 200 days may be the next resistance level. The increased demand for gold also after U.S. stocks rose to their highest level in four years during trading on Tuesday.

The record gold in the spot market in the session high at $ 1641.20 an ounce, its highest level since the seventh of May. By the time of 1822 GMT, gold reached $ 1638.83, up 1.2 percent from the previous session.

And recorded Gold futures U.S. December delivery $ 1642.90 an ounce at the settlement high 19.90 dollars.

And silver rose 2.2 percent to 29.41 dollars an ounce. And recorded earlier in the session the highest level since early June at 29.51 dollars.

The platinum touched its highest level since early May at $ 1508.25 an ounce and then trimmed gains of up to $ 1501.90, up 1.1 percent from the previous session.

Platinum was more precious metals up in the past seven sessions, rising more than $ 120 an ounce on a weekly basis on Tuesday after the deaths of more than 40 people following the outbreak of violence in a mine operated by Lonmin is the third largest producer of platinum in the world.

And palladium rose 2.8 percent to $ 620.40 an ounce. Earlier in the session log metal, its highest level since late June when 626 dollars.

NEW YORK (Reuters)

August 22, 2012
Gold jumps 1% to the highest level since June 6

Gold prices jumped one percent on Tuesday to 1635.55 dollars an ounce, the highest level since the sixth of June, where the payment of a decline in the dollar and the rise in equity markets gold prices to breach the resistance at around 1630 dollars, which encouraged buying.

The gold prices rose on Monday after the dollar lows in almost two weeks against the euro and stock markets rose, while platinum settled near its highest level in two months with the worsening turmoil in the mine in South Africa.

The platinum precious metals up more in the past seven sessions, rising more than $ 100 per ounce on a weekly basis on Tuesday after police shot dead 34 people after the outbreak of violence between rival trade unions in a mine operated by Lonmin to South Africa.

At 1235 GMT, the spot price of gold 0.9 percent to 1634.55 dollars an ounce. While the price in the futures contracts of U.S. December delivery

And settled the spot price of platinum after touching on Monday its highest level in two months at 1492.99 dollars an ounce to trade at 1486 dollars per ounce. Thanks to the rise in the recently it has become better platinum precious metals performance in terms of increased price 6.6 percent since the end of December.

And palladium fell 0.1 percent to 603 dollars an ounce after scoring on Tuesday its highest level since late June, when 608.50 dollars.

The price of silver up 0.6 percent to 28.93 dollars an ounce.

source:reuters

August 21, 2012
Platinum rises to 1477 dollars per ounce

LONDON (Reuters) – Platinum prices rose to the highest level since early July on Tuesday after an outbreak of violence in South Africa Great product for precious metal, pushing prices to rise 5% last week and smartest biggest weekly gain for platinum since February. And killed about 44 people in clashes between police and workers in a mine Marekana, the third largest platinum mine in the country, of the company “to Omin” for mining.

Platinum rose in the spot market to 1477.50 dollars an ounce “ounce”, its highest level since the fifth of July, but fell from the high levels after workers began returning to work in the mine. And settled at 1464.24 platinum dollars an ounce. South Africa produces 75% of world production of platinum and therefore any threat to production could affect heavily on prices. The mine produces Omin alone 60 thousand ounces per month.

Gold prices rose and also with the weak dollar, which fell 0.1% against a basket of six other currencies. Was little changed on the gold in the spot market at 1614.39 dollars an ounce compared to U.S. $ 1615.59 in late trade on Friday, while gold fell in the United States for December delivery $ 2.50 to 1616.90 dollars an ounce. And increased silver 0.3% to 28.12 dollars an ounce.

August 21, 2012
6.91 billion dirhams gold sales in UAE during the first half

The value of gold sales in UAE during the first half of the year grew by about 2%, rising to 6.91 billion dirhams, compared with 6.77 billion dirhams in the same period of 2011, according to the World Gold Council statistics.

According to the Council, that the growth came despite the fall in the market in gold sales in terms of value and volume during the second quarter of this year, but the growth in the first quarter helped push growth in the value of sales.

And between the Council that the local market recorded a growth in demand for gold for investment amounted to 4.7% to 890 million dirhams during the first half of this year, compared with 850 million dirhams in the same period of 2011, while sales recorded on the jewelry, “gold jewelry” 5.92 billion dirhams, between January and June 2012, compared to 5.91 billion dirhams in the same period last year, an increase of 0.17%.

The statistics show the World Gold Council, the demand for gold sales in terms of weight, “quantities” witnessed a decline in various global markets, including the UAE market and sales fell 11% down to 35.4 tons during the first half of this year compared to 39.8 tons in the year 2011, a decrease of 4.4 tons.
The gold sales last year grew 24% in terms of value to about 12.8 billion dirhams, compared with 10.3 billion in the previous year, an increase of about 2.5 billion dirhams.

Statistics showed that the demand for investment amounts in the yellow metal has grown by about 0.1% to a record 5.1 tons during the first half of 2012, compared with 5 tons, in the same period of 2011, up 100 kilograms, while the decline in demand for jewelery and gold sales Forged by 12.9%, to fall to 30.3 tons quantity in the period from January to June 2012, compared to 34.8 tonnes in the same period of last year

The report said that gold sales in the UAE market during the second quarter of 2012 declined to 16 tonnes compared to 17.3 tonnes in the same quarter of 2011, down 8%, and recorded sales of jewelry, including 13.9 tons, compared to 15 tons, down 7% during the period the same from 2011, while sales dropped gold for investment through instruments and equities to 2.1 tonnes, compared to 2.3 tonnes in the second quarter of 2011, down 9%.

The report said the decline was also extended to sales in terms of value to fall in the second quarter of 2012 to 828 million dollars, compared to 838 million dollars in the same quarter of 2011, included a drop of gold sales polished to 719 million dollars, compared to 726 million dollars at a rate of 1%, In the investment sector was down 2% to drop down to 109 million dollars, compared to 111 million dollars.

source: alittihad news

August 21, 2012
Global demand for gold down 7 percent in the second quarter of 2012

The Volume of global demand for gold 990 tonnes in the second quarter of 2012, recording a decrease of 7 percent compared to what it was in the second quarter of $ million and about 66 tons.

World Gold Council in its report on gold demand trends this decline in the rate of demand in part to a comparison with the rates of demand exceptional last year.

The council said the decline reflects the difficulties experienced by the climate of the global economy and the performance of gold did not come out from the expectations as he continued his mission as a hedge and a source of liquidity.

Remained in demand for gold has been relatively stable at 2.51 billion U.S. dollars, compared to what it was, where was 6.51 billion U.S. dollars in the second quarter of 2011 .. The average gold price of $ 49.1609 an ounce, registering an increase of seven percent from the average price in the second quarter of 2011.

The report confirms that the sovereign debt crisis continued in the euro zone boosted the confidence of European investors in the importance of acquiring savings gold where demand rate on bullion and gold coins by retail investors an increase of 15 percent on an annual basis for up to 6.77 tons, increased by more than 19 percent of quarterly average over five years, which is 2.65 tons.

The rate request formal sector for gold in the quarter amounted to an unprecedented rise 5.157 tons, more than twice the rate recorded in the second quarter of 2011 represented 16 percent of total global demand. Has reinforced a number of central banks holdings of gold during this period, including the National Bank of Kazakhstan and the central banks in the Philippines, Russia and Ukraine.

The report notes that despite the economic difficulties remained ETFs relatively flexible, recorded net outflows amounted to 0.8 tons on an annual basis.

The average price of gold to 1 610 U.S. dollars an ounce, recording a rise of seven percent compared to the average price recorded in the second quarter of 2011.

The volume of demand for gold jewelery sector 3.418 tons, recording a decline of 15 percent compared to 6.490 tonnes in the second quarter of 2011 with the exception of India and China, where the rate of demand for gold jewelry decline of 4 percent.

Decline in demand for investment in gold by about 23 percent on an annual basis for up to 0.302 tons, down slightly from the average quarterly over five years, which is 3.340 tonnes, with the exception of India and China, where the rate rose retail investment by about 16 percent on an annual basis compared to Tons.

And settled the demand for ETFs and similar banking products in the second quarter of 2012 significantly quarterly level, where more than a slight edge on the sales rate new demand.

From : WAM

August 21, 2012
World’s richest speculating on gold and prices rising

With the increase in the size of their property investors of gold bullion to a record for fear of slowing economic growth and after 2 Billionaires John Paulson and George Soros bought more gold, rose gold traders speculating on gold during the recent weeks Alstth.

In a poll conducted by Bloomberg News, and published by the Middle East predicted 14 of the 26 analysts higher prices next week, while the predicted six of them falling prices, while six others, they were neutral, making rate speculation on higher prices highest since July 6.

The Paulson increase its stake in SP-R Gold Trust, the largest producer trader in the stock market supported gold, 26 per cent in the second quarter, and the Soros increase the size of his property of gold has more than doubled, according to records revealed the Securities and Exchange on 14 August.

The euro zone shrank in the second quarter after the worsening debt crisis led to the entry of at least six countries in a state of recession, as data revealed the European Union issued on Aug. 14.
And increased purchases of bullion and gold coins by 15 per cent in Europe in that period, according to the World Gold Council said yesterday.

And slowed growth in the United States during the three months to June this year, and may extend slowing economic growth in China to the seventh quarter after the cessation of export growth last July, as disappointing industrial production and lending economists’ expectations.

The speculation led to higher precious metal; where the price of gold rose 3.3 percent to 1.618 dollars per ounce in the Commodity Exchange in New York this year, achieving 11% annual profit streak.

This comes compared to a profit of 3.5 per cent in the index GSM CIA issued by Standard & Poor’s for twenty-four commodity, and an increase of 8.6 per cent in the Morgan Stanley index of all the countries in the world for stocks. And achieved a return on Treasury bonds accounted for 1.1 per cent, according to the index showed Bank of America.

Statistics indicate the U.S. to a significant increase in demand for bullion and gold coins European to 77.6 metric tons in the fourth quarter, and should increase the demand for jewelry in Asia during the second half as a result of a link this season purchases marriages and festivals, as stated Gold Council, which the London-based her.

The investors bought gold worth an estimated 1.1 billion dollars through the products are traded in the stock market this month, and possessed a record number of gold worth 2.417.3 tons on August 10, according to the data showed.

Import volume fell gold in India, the largest buyer of gold in the world over the past year, 56 per cent of a year earlier, up to 131 tonnes in the second quarter, according to Gold Council said.

August 21, 2012
15% sales growth in the gold shops thanks to holiday season

As much as gold traders in Doha rate of increase in the demand for buying gold by about 15% during the days of Eid al-Fitr, despite higher prices.

They said the «Arabs» The market is witnessing a boom during this period every year, starting since the last days of the holy month of Ramadan and ends at the end of the feast days, for arguing that the first days of the holy month stagnated somewhat in sales.

They added that the recovery of demand for the yellow metal during the Eid al-Fitr every year and during the other seasons such as Eid al-Adha and the National Day and New Year’s and other various events, where accepted customers to buy gifts gold for submission to relatives, sons as well as to increase wedding season in this period.

The presentations and Nakecat and the availability of new forms of jewelery major factor in the increase in demand for buying gold during the days of Eid, where racing gold shops in the presentation of the best Nakecat and shapes.

Did not constitute a slight increase witnessed in gold prices this week, offering to customers who want to buy gifts for their loved ones.

The price of gold gram 24 carat to 189.27 riyals yesterday, up from 187.71 riyals a week ago, also increased the price of one gram 22 carat gold to $ 173.5 riyals, up from 171.97 riyals 7 days ago.

The price of a gram of 21-carat carat 165.62 riyals, up from 164.29 riyals, plus the cost of workmanship which is estimated to be between 20 and 30 riyals for jewelry importer, and 10 to 15 riyals for the locally manufactured.

The price of one gram 18 carat gold reached 141.96, up from 140.88 Real Real, and supplemented the cost of workmanship that up to 40 riyals, while the value of gold bullion rounds at 24 189.236 thousand riyals per kilogram per gram, up from 185.952 thousand riyals a week ago.

He attributed the rise in the prices of specialists gold to quantitative stimulus in the U.S. economy, which directly affects the price of gold globally and locally.

August 21, 2012
India’s gold prices hit record high by 30,699 rupees

Traders said gold prices in India hit a lifetime high on Thursday, in line with global trends, stockists and investors to buy the metal up.

Gold prices hit India’s domestic 30,699 rupees per 10 grams in the local market after the international gold prices touched their highest level in three months since April amid continued concerns over the euro zone and before an important meeting of central banks.

Said Anand James from Geojit BNP Paribas Financial Services “International and domestic factors are both at play,” .

“There preemptive buying by stockists to anticipate seasonal purchases in the coming months, and a bit of investment-led buying,” he said.

Investors tend to resort to the precious metal as a safe haven during uncertainty, while buying stockists expected family during marriage and the festive season , which runs from September to December.

Traders said the retail gold purchases currently remains low, with consumers delay buying in the hope that the correction in prices soon.

Harish Kewalramani,director of Bombay Bullion said that there is no buyer now as high gold price and demand for gold is very week at the moment.

The World Gold Council said ,global demand for gold fell to its lowest level in two years in the second quarter ended June, due to less buying in main markets in china and India , despite high demand from central banks.

China and India, which is battling both high rates of inflation, accounting for approximately half of the demand for gold in the world combined, and India are expected to exceed China as a leader in the market by the end of the year

August 20, 2012