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  • Gold jumps 1% to the highest level since June 6

    Gold jumps 1% to the highest level since June 6

    Gold prices jumped

    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

  • Platinum rises to 1477 dollars per ounce

    Platinum rises to 1477 dollars per ounce

    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.

  • 6.91 billion dirhams gold sales in UAE during the first half

    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

  • World’s richest speculating on gold and prices rising

    World’s richest speculating on gold and prices rising

    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.

  • 15% sales growth in the gold shops thanks to holiday season

    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.

  • India’s gold prices hit record high by 30,699 rupees

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

    India's gold prices

    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

  • Decline in demand for gold in Indian market

    Decline in demand for gold in Indian market

    Decline in demand for gold in Indian market

    The newspaper “Indian Express”, on Friday, that demand for gold in Indian market has witnessed decline by 38.4%, to $ 181.3 tones in the period from April to June of 2012, compared to 294.5 tonnes same period of last year.

     

    Pointing out that the decline in gold imports will pressure on the current account deficit, especially since gold is second largest producer is imported from abroad after crude oil.

     

    The newspaper reported that the production of Indian jewelery declined by 30%, to $ 124.8 tons noting that global demand for gold fell to 990 tons 7%, according to latest report of  World Gold Council.

     

    She added, that this decline reflects the challenges of global economic conditions, where gold is a store of value and a source of financial liquidity, stressing that significant decrease was the result of exploitation Indian investors twice value rupiah currency.

  • Some Must Avoid Gold Investment Mistakes

    Some Must Avoid Gold Investment Mistakes

    Gold Investment

    Buying and investing in gold has been a potential benefit and a terrific way to have the financial security for a long time now and people make sure that they carry it out as much as they can. If you want to secure your future and don’t want to have a downhill treatment against the things which you have kept, you should know how to buy and invest in gold as much as you can.

    With the raging and enhancing gold market you cannot ever have less for this kind of element and you can easily sell it out for different purposes in your life. For people who want to invest in gold or have the courtesy to buy it for any different reason, it is surely a simple process or at least it seems that way. In reality, investing in gold could be a very tricky and challenging procedure to go through.

    The main reason why investing in gold is so risky is the fact that you can get scammed easily. You might think about going to a gold shop and looking through a few coins which you want to purchase, hand over the money and keep the loot securely in your assets but it is not that easy. There is much more involved to the gold investment than a person could think of and randomly picking your favorites out is not the only thing. You should know about some must avoid gold investment mistakes and be aware of the potential threats and consequences that you might will have to go through.

    Be acknowledged and informed about the gold types and all the information that you should have because there is no excuse of being uninformed and misunderstood. You need to have an idea about the content and material about gold because you are going to invest a whole lot of money in the matter. Learn about the pros and cons of gold investment and the terms which are related to multiple resources.

    If you are investing in gold, make sure that you determine how much that is going to be. You don’t want to invest a whole much or too little of anything. If you pay too much, it will divert the purpose of investing the money and if you buy too less, it will not turn out to be as fruitful.

    Buying gold and investing in it with different forms is not going to make you rich overnight and you will have to gradually notice it happening so be patient and choose your considerations and outcomes ahead of time.

  • Gold prices in Dubai settle at 175 dirhams for 22 carat

    Gold prices in Dubai settle at 175 dirhams for 22 carat

    Gold prices in Dubai settle at 175 dirhams for 22 carat

    Gold prices settled today in dubai as prices for E yesterday, scoring gram 24-carat gold 190 dirhams and 22 carat 175 dirhams and 21-carat carat 167 dirhams and 18 carat 143 dirhams.

    And saw the gold markets in the country a significant improvement in sales, especially in the Emirate of Abu Dhabi which witnessed the prosperity of gold sales during the previous period and before the Eid al-Fitr, which encouraged many traders in the gold market Madinat Zayed in Abu Dhabi went to view more of the various gold jewelry.

    Did not alter much in Dubai gold souk where he witnessed the remarkable turnout on buying gold especially with the decline in gold prices in the markets of the emirate.

    It is expected many of the gold dealers in Dubai gold market movement Bazhar sales after the holiday and also before the start of the study in light of low gold prices.

    Dubai is one of the most popular Arab role Alazhb sales during the past period, unlike the other markets.

  • Gold Rate Today In UAE

    Gold Rate Today In UAE

    Gold Rate Today In UAE

    Dubaigoldprices (Duabi)

    Gold price rate in dubai stock exchange have rise to 191.23 UAE Dirahm for 24 Carat as global gold price increase to 1620 USD/ounce by increasing 0.23% from yesterday .

    and other gold rate in uae record 175.278 for 22 carat, 167.311for 21 carat and 143.41 for 18 carat Today