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.
Gold rate in UAE rises more than four dirhams per gram on average gold prices for various different gold carats in one week , according to Gold prices in Dubai and Sharjah today.
Gold traders in Dubai said that gold prices in the UAE witnessed high capacity nine dirhams within two weeks due to increased world gold prices, prompting gold sales to drop between 40 and 60% this week, has also resulted in the case slow seasonal after the return of the study in the United Arab Emirates and the return Residents of holidays, to decline selling gold jewelry.
One of the dealers said that the increase in gold prices pushed gold many to resort to selling gold and take advantage of the current gold prices.
The price of a gram (24) carats 208.90 dirhams, up 3.75 dirhams for the end of last week, while the price of a gram (22) carats to 191.75 dirhams, an increase of AED 3.25, and the price of gram (21) carats 182.25 dirhams, up AED 2.75, while gram (18) carats 156.75 dirhams, up to 1.75 dirhams.
A store manager «Jewelry Vienna to trade gold that gold sales have fallen sharply this week with the continued rise in global gold prices and concern dealers beginning of the school year.
Signed DGCX and Dalian Commodity Exchange (DCE) today a memorandum of understanding with the first MoU of its kind signed by the Chinese stock market with one of the Middle East stock exchanges.
The new partnership will enhance and support opportunities for global cooperation between DGCX and goods and the Dalian Commodity Exchange what will be beneficial to both parties.
The MoU aims to facilitate close cooperation between the two sides in areas such as product development and price risk management and market share resources.
The memorandum will support Middle East investors and producers of energy, petrochemicals and plastics, enabling them to take advantage of the huge consumer market enjoyed by China.
Said Gary Anderson, CEO of DGCX and goods that DCE of goods is one of the three largest stock exchanges for trading agricultural contracts futures in the world, stressing that the importance of this note stems from being a support the common interests of the two bourses and help develop opportunities our business and expand global presence in addition to helping our customers.
He added that through this cooperation both markets will be able to employ their knowledge and expertise in support of innovation and development efforts in the area of futures trading.
For his part, Liu Zheng Qiang Prime DCE for goods and CEO The DCE for goods showing great interest in building cooperative relationships with exchanges leading to support its global effectively comes our cooperation with the Dubai Gold and Commodities, which is one of the stock exchanges specialized in the field of derivatives trading in the Middle East due because of its great influence in regional financial markets as a memorandum of understanding this important development in terms of our business in the Middle East.
He pointed to growing investor interest in the development of petroleum products and related derivatives of crude oil in the Middle East, which is considered one of the most prominent producers of petroleum in the world while China is a major consumer and therefore it was only natural to build a partnership relationship between Borse Dubai Gold and Commodities Exchange and Dalian Commodity take advantage of this economic orientation is important.
The memorandum of understanding signed between Borse Dubai Gold and Commodities Exchange and Dalian Commodity latest in a growing number of deals between the United Arab Emirates and China in light of seeking both countries to strengthen financial cooperation and bilateral trade and investment between the two Over the past decade the volume of trade between the UAE and China by 35 percent annually, where it was estimated that the value of bilateral trade reached $ 35 billion in 2011.
For his part, Ahmed Bin Sulayem, Chairman of DGCX and goods that strength of the relationship of trade and investment that combines the UAE and China and the rest of Asia will play an important role in the expansion and future growth of the economy of the state and we are pleased to be a party contributor to the continued growth of this relationship investment in enhancing the status of the United Arab Emirates as a major trading hub in the region.
According to traders futures contracts that include a copper futures in DGCX paved the way toward transition wholesale traders futures of the London Stock Exchange for metals to DGCX , and pointed out that the reasons motivating this transition mass is not confined to geographical location occupied by the stock market as a fall in the time zone the middle between European and Asian markets, which has contributed significantly to this success, but more than that and the most important is the ease of payment and collection margins (fees and commissions), as well as providing facilities execute trades at times other than the work of banks.
In parallel, did not deny or confirm Gary Anderson, CEO of Dubai Gold & Commodities Exchange (DGCX) fact this trend by traders, saying only that a copper futures, which have been included recently scored a huge success and boosted strategy DGCX and goods aimed at strengthening the global coverage of By bringing new products and services are popular broad base of consumers and customers.
Been included copper futures contract very excited by the traders who store large amounts of copper and related products, Kmusenai cables and scrap dealers.
Copper is the third most widely used metal in the world, and is included in a number of major global stock markets. The contract included in the DGCX and goods, the first contract for copper in the Middle East.
The contract provides copper – the perfect tool for hedging and reduce the risk of fluctuations in copper prices in the physical market, also allows investors access to one of the most liquid metals contracts in the world. The size of the contract were identified by 5 tons based on the opinions and the results of consultations with both in the actual market, investors and speculators between markets.
When asked Gary Anderson, CEO of DGCX whether he thought that the contracts included in the DGCX that could pave the way towards a full transition to traders futures of the London Stock Exchange for metals to DGCX , he replied, and I quote: pursues Dubai Gold and Commodities DGCX clear strategy, which is still confident of its ability to bring the power of momentum for growth, targeting Borse Dubai Gold and Commodities particular customer in the Middle East and emerging market countries.
But he added: We remain committed to strengthening our global coverage with the launch of new products and services, which affect demand a broad base of consumers, as well as further strengthening its position like Borse leading regional sector commodity trading and derivatives, and the stock market remains focused on developing its portfolio of contracts futures, trading volumes returned to growth again in the world 2012.
Abu Dhabi police arrested three Arab men trying to sell five gold coins worth nearly Dh2.5 million as part of efforts to combat trade in historical items.
A police undercover persuaded the three to sell him the coins, four of which are genuine, before other police men swooped and seized the three.
The coins are made of pure gold and date back to different Islamic ages, including the Ottoman and Fatimid periods – hundreds of years ago.
Police said those arrested were a 29-year-old clerk, and two van drivers aged 27 and 28 years, adding that they had received a tip off about the plan by the three that they intend to sell the coins.
“After handing the coins to our undercover, who paid them Dh2.5million, we raided the place and arrested the three,” the Arabic language daily Alittihad said, quoting Colonel Rashid bu Rushaid, Abu Dhabi CID chief.
Gold futures jumped to their highest level in more than six months, supported by clicking posed to the dollar after the release of U.S. monthly jobs data that disappointed analysts’ expectations.
The Ministry of Labour has revealed yesterday the addition of 96 thousand new jobs only in August and less than analysts’ forecasts at 130 thousand, while those data came one day after the Democratic Party nomination for “Barack Obama” officially in the city of Charlotte to run for president .
This comes as precious metal futures rose to 1738 $ level, which is its highest since early March
