Gold Price In Dubai today start with decline as market show down in gold prices in UAE by 7 AED last week .
22 carat gold price per gram in dubai reach to 178 AED and 24 carat gold price per gram in dubai record 189 AED , 21 carat gold price per gram in dubai down to 168 AED .
Gold Prices show down this month below 1560 $
Spot Gold Price In Dubai today start with a decline by 0.39% to record 1576.20 USD/Ounce in Dubai Gold and Commodities Exchange (DGCX) in Dubai.
Gold Rate in Dubai start with 176AED For 22 karat gold price in Dubai and 186 AED For 24k today in Dubai.
Gold prices rose the end of the week after U.S. jobs data came in much weaker than expected, which fueled expectations that the Federal Reserve continues its program of asset purchases. The precious metal rebounded from three consecutive sessions of sharp losses after the Labor Department said that U.S. job growth outside the agricultural sector recorded in the March / March, the slowest pace in nine months.
The price of gold for immediate sale 8.1 percent to $ 30.1580 an ounce in late trading on the New York market, extending a recovery from the lowest level in ten months, which struck earlier this week.
And U.S. futures rose gold for delivery in June 50 .23 dollars to record settled at $ 90.1575 an ounce.
Among other precious metals silver jumped 5.1 percent to $ 30.27 an ounce, platinum rose 8.0 percent to $ 50.1531 an ounce, while palladium settled at $ 22.724 an ounce
But on Thursday, gold has recorded its lowest level in 10 months with the rise of the dollar as it dropped $ 1540 price without scoring in the spot market to $ 74.1539 an ounce, its lowest level since May 30, down 7.0 percent from the previous session.
The U.S. gold futures fell delivery in June 4.0 percent to $ 70.1546 an ounce.
Among other precious metals silver fell to the lowest price since July 24 at $ 65.26 an ounce, then recovered slightly to $ 82.26 low 3.0 percent from the previous session.
Platinum fell to its lowest level since late August / August at $ 50.1504, while palladium hostel 8.1 percent to $ 50.736 an ounce
Gold prices fell on Wednesday to its lowest level in nine months with the increase in oil and stock losses which triggered sales in the commodity markets.
The yellow metal fell during the session and briefly about the level of 1550 dollars per ounce for the first time this year.
Gold came under strong selling pressure after government data showed an increase in crude oil inventories in the United States, referring to the decline in demand for fuel in the largest oil consumer in the world. The price of gold for immediate sale at the end of the trading session in New York 89.1555 dollars an ounce, down 2.1 percent from the previous closing level.
In the earlier meeting, the price dropped 7.1 percent to $ 69.1549 an ounce, the lowest level since June 28 / June 2012.
And U.S. futures fell gold for delivery in April 30 .22 dollars to record settled at $ 80.1552 an ounce.
Among other precious metals price of silver for immediate sale in late trading in New York $ 98.26 an ounce, down 8.0 percent from the previous close, after it had fallen earlier in the session 6.1 percent to $ 72.26 an ounce, the lowest level since July 2012.
The price of platinum for immediate sale 2.2 percent to $ 99.1534 an ounce after hitting earlier in the session 1527 dollars, its lowest level this year. The price of palladium fell 6.1 percent to $ 97.751 an ounce. Gold prices fell more than one percent on Tuesday to its lowest level in two and a half weeks because of the rise in the dollar index to its highest level in the meeting and increase the demand for assets that are considered high risk, such as European equities.
Spot gold fell to $ 89.1581 an ounce, the lowest price since March 14, and fell one percent to $ 70.1582.
On Monday, gold settled in thin trading due to the Easter holiday on the occasion as the market absorbed the reports on manufacturing and construction industries in the United States painted a mixed picture of the economy before an important report on the jobs issue later this week.
And dissipated early gains for the precious metal after a report showed the Institute for Supply Management that the pace of growth of the manufacturing sector in the United States slowed in March / March with the decline in the rate of new orders. However, the recovery in the construction sector spending in February introduced a new sign of economic growth accelerated in the first quarter of the year.
The price of gold in the spot market 1.0 percent to $ 51.1597 an ounce.
And U.S. futures rose gold for delivery in June 30 2 to $ 1598 dollars per ounce.
Silver fell 2.1 percent to $ 98.27 an ounce.
Platinum rose one percent to $ 49.1580 an ounce.
Palladium rose 5.0 percent to $ 47.773 an ounce.
Gold has had a spectacular run since the onset of the global financial crisis. From about $US750 an ounce in 2008 it reached $US1900 in September 2011. But since then the gold price has been trading in a range between $US1550 and $US1800. Each time there’s a wobble in Europe, investors head for the haven of gold and its price moves towards the upper end of this trading range. That is just what has happened over the past couple of weeks with the financial woes besetting Cyprus.
But is the oscillation in the gold price of the past 18 months just a pause before the yellow metal renews its rise? Or is the best of the rally in the price now over?
Gold has long been a good store of value, a hedge against inflation, and a haven in tough times. Greg Canavan, editor of Sound Money Sound Investments, says gold provides insurance against a meltdown in the world’s financial system. He says the gold price has been consolidating since the end of 2011 as central banks in the US and Europe have been printing money and their governments borrowing to stimulate economic growth.
In Canavan’s opinion, the problems have simply been ”kicked down the road” for another six months or so. It is only a matter of time before the problems, which have been papered over, flare again, he says.
Advertisement
But Shane Oliver, chief economist at AMP Capital Investors, says the risk of a global meltdown or collapse has receded and the appetite for gold is less than it was. Gold does not pay an income to investors. And, Oliver says, investors are able to earn good yields on bonds and shares. He cannot see much upside in the gold price from here, though that could change quickly if there is another major financial crisis or inflation spikes.
Canavan says that as investors have perceived risks receding, they have been buying Telstra and bank shares for yield. That has worked well over the past eight months and could continue to work in the short term. But at some point, because of the unresolved issues in the global economy, there will be a renewed appetite for gold, Canavan says. He says the gold price could rise to more than $US2000 an ounce.
Chief executive of Lincoln Indicators, Elio D’Amato, says gold has become more of a ”trading” commodity than it has ever been as small investors have come into the gold market. In recent years, ways have been created for small investors to trade in gold.
D’Amato sees value in some of the Australian sharemarket-listed goldminers. He likes Silver Lake Resources and Regis Resources. Even if the gold price fell to $US1000, both miners would still make good profits on the cost of production, he says. He is not so keen on Newcrest Mining, Australia’s biggest goldminer by market value. Newcrest has a number of problems, including its acquisition of Lihir, which has not gone to plan, D’Amato says.
Investors can also buy exchange-traded funds that are listed on the Australian sharemarket and whose unit prices track the gold price.
”It can make it quite a volatile metal now,” D’Amato says. ”We think it is really a hedge against inflation.”
It is only a store of value and, unlike copper, for example, has no industrial uses.
”We think the gold price at these levels is fairly priced and will probably stay at this level for quite a while,” D’Amato says.
souce:theage
Gold prices fell further at the domestic bullion market today due to subdued demand from stockists and retailers on the back of lower global cues.
Silver also declined moderately on speculative selling.
Standard gold of 99.5 per cent purity slid by Rs 175 to close at Rs 29,515 per 10 gm from last Saturday’s closing level of Rs 29,690.
Pure gold of 99.9 per cent purity also dipped by a similar margin to conclude at Rs 29,650 per 10 gm from Rs 29,825 previously.
Silver ready (.999 fineness) eased by Rs 100 to end at Rs 54,610 per kg from Rs 54,710 last weekend.
At the global front, gold was trading lower on investor selling amid last minute deal struck by Cyprus with lender-nations to avoid bankruptcy and keep the island nation in the euro-zone.
In Europe, gold was bid lower at USD 1,602.76 an ounce in early trade, while spot silver was bid down at USD 28.75 an ounce.
Precious metals gold and silver losses on the national capital today on reduced demand.
While gold fell more than Rs 130 to 30125 rupees per ten grams, silver tended to Rs 15 rupees per kilogram 54400 amounts specified by jewelers and low industrial units.
Traders said the decline in demand due to marriage season mainly outside kept the pressure on both gold and silver prices to deliver more concessions.
On the domestic front, the gold price fell 99.9 and 99.5 on cent more purity Rs 130 rupees each for 30125 Rs 29,925 per ten gram respectively.
He had lost Rs 75 on the previous session. Remained stable, sovereign Rs 25300 per piece of eight gram on scattered deals.
In line with the general trend is weak, silver shed ready last Rs 15 to 54400 per kilo and weekly-based delivery by Rs 25 to 54,175 per kilogram. The white metal fell from Rs 765 on the previous session.
Silver contract unchanged at 82,000 rupees rupees to buy and sell 83000 100 pieces on restricted buying.
It was noted that the mixed trend in the bullion market during the past week as gold prices rose more continuous stockists buying influenced by the direction of global stability, while silver fell to a lack of support from industrial units.
Traders said continued buying by stockists and stability of the global trend mainly led to the rise in gold prices for the second week in a row.
They said silver remained under pressure on lack of support from industrial units and surrendered the Earth’s freshwater.
Gold rose in New York, which usually determines the price trend on the domestic front, 0.8 percent to 1609 USD an ounce this week.
In the New Delhi, began gold purity 99.9 percent and 99.5 higher and rose to 30370 rupees and Rs 30170 in 10 grams led to increase posters leading global cues.
Later, it met with some resistance and declined to close at Rs 30,255 and Rs 30,055 in 10 grams, respectively, is still higher than the 245 rupees each.
Sovereigns also rose Rs 50 to 25300 per piece of eight gram.
On the other hand, silver ready rose, after a better start, for 55,180 rupees per kg and 54,835 before ending at Rs 54,415, suggesting a modest fall Rs 60. Similarly, the silver weekly-based delivery lost Rs 100 to 54200 rupees per kilogram during the week.
However, silver attracted active buying rupees, up by 2,000 to 82,000 rupees buying and Rs 83,000 for selling 100 pieces.
Can become NASDAQ Dubai, the largest sukuk market in the world next year, according to what he said Hamed Ali, Acting Chief Executive of NASDAQ Dubai, Arabian Business.
Ali added that the instruments worth billions of dollars, it is expected to be listed on NASDAQ Dubai in the current year and next, which will raise the order stock from third world to the first position as a market instruments.
Ali said that if we take into account the expected versions on the market this year and next, we could become the number one market in the world within the next two years. He added that our strong for the current year and the next as well, and the process continues. He said if attracted 20 to 30% of the instruments that will be issued in the current year and the next, we will be very easily, the first market in the world for the instruments.
The need of NASDAQ Dubai to the inclusion of approximately $ 20 billion of the instruments, to excel on the London Stock Exchange, and be the largest market for instruments in the world, and this size double what is currently listed.
Ali said in another interview with Bloomberg, The NASDAQ Dubai will open a new market for small and medium-sized enterprises, to promote the inclusion of companies in the financial free zone.
He added that the exchange is working to determine the minimum percentage of shares that need small and medium-sized companies to put up for public trading and the market value of the minimum required, to merit the company listing on the stock exchange.
And that NASDAQ Dubai held meetings with an advisory board, including representatives from the sector and experts to identify those things. Ali said, “We are sure of the progress we have made, we are on the right track, and there will be good news in the current year.” Ali said, “We are in a strong position, and we are the first destination in the region to create small and medium-sized companies.”
According to regulations of NASDAQ Dubai to put the company at least 25% of its shares for trading, and not less than the market value of the company for $ 10 million, so that could be included.
Dewa excluded instruments before 2015
Saeed Mohammed Al Tayer said CEO of the Dubai Electricity and Water (Dewa) yesterday, said the agency expects to issue more Islamic bonds (sukuk) by 2015, demand growth remained stable electricity in Dubai.
And Saeed Mohammed Al Tayer said in a press conference, said the agency will not issue a sukuk or other traditional bonds in 2013, will not issue a sukuk through 2014 unless changes growth of electricity consumption to 10%, or changed the targeted growth rates. He stated that the current growth of 4-5%, expected no more than that.
He said that the Commission would wait to see if there is any change requires increased liquidity, stressing that they have time until 2015 to study the matter.
Gold sales in Abu Dhabi increase and since the beginning of the year, helped by lower prices an average of 5% depending on the carts, according to jewelers.
The jewelers ‘Union’ that their sales improved rates ranging between 15 and 30%.
Abdel Wahid Marzouki group owner “jewelry Mandoos” said sales rose more than 15% since the beginning of 2013.
“The gold prices are for the first time a decline in this form for a period of weeks ago continues to 3 years”, after that the price of an ounce of “condoms” to about $ 1900 in the global markets in the spring of 2011.
Gold moves in 1560 and 1585 range dollars since the beginning of March.
Marzouqi explained that gold prices began to retreat since last February, of $ 1,650 per ounce to 1580 dollars, a decrease of 4.2%. “It has become the price of gold – relatively – reasonable now.”
For his part, said Arif Hloh Director replace “Rmaizan Jewelry” The gold prices have fallen since the beginning of last month at rates ranging between 7% and 10% according to caliber, a difference of 12 dirhams per gram on average. This led to increased demand for jewelery, which raise Hloh shop sales by about 30%.
Jewelers complain since 3 years weak demand for buying gold because of the high prices to record levels.
And gold prices rose during the past five years by about 60%, but declined during the past six months by about 9%.
The Hloh The price of gold of 21 carat ranged between 175 and 185 dirhams before February, and dropped to about 164 dirhams now, while gold falling from 18 carat from the scope of 155 and AED 165 to 140 dirhams, while down 24 carat of more than 200 AED, for up to 186 dirhams. Forecasts indicate that gold prices will continue to decline in the coming period.
Marzouki said “prices will fall more in the coming months .. ounce is expected to retreat to the level of 1550 dollars.”
Marzouki due this fall to improve indicators of the global economy and restore investor confidence in capital markets and real estate, after it was their position focus on gold, which is considered a safe haven for investment.
The beauty of imagination agreed sales manager Prince Jewellery Store, with its predecessors, pointing out that the increased demand for various types of jewelry, especially alloys, as well as more expensive gifts.
Imagination said sales rose about 30% during the past two months.
He pointed out that sales were limited by the low prices on small pieces and precious, but purchasing options become wider because of the low prices. The situation is no different for sales staff in Jewelry Samer Abdul bridges, which emphasized improved sales, and focus more on demand and alloys pounds.
But Abdel Monem Sayed, sales employee in Jewelry island, a deadly improvement in sales since gold prices began to retreat out at the end of 2012.
And said, “We want prices to continue to fall, it is in the interests of our trade, and reflects positively on the consumer.”