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Gold price tumbles by Rs 190 in Delhi on stockists selling

Gold prices fell sharply in the national capital on Tuesday, falling Rs 190 to Rs 29,800 per 10 grams, extending Monday’s losses on continued selling by stockists.

Traders said increased selling by stockists triggered by a weak global trend as a stronger dollar reduced the appeal of the precious metal as an alternative investment, mainly influenced the sentiment.

In the global market, which normally set a price trend on the domestic front, gold fell by $9.60 to $1,572.70 an ounce, while silver by 0.18 per cent to $27.30 an ounce in New York in Monday’s trade.

On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 190 each to Rs 29,800 and Rs 29,600 per ten grams, respectively. It had shed Rs 40 in the previous session. Sovereign remained flat at Rs 25,100 per piece of eight gram.

On the other hand, silver ready after moving in a tight range on some support, held steady at Rs 52,200 per kg while weekly-based delivery inched up by Rs 20 to Rs 51,345 per kg.

Silver coins continued to be traded at last level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

April 9, 2013
Gold falls amid expectations of continued investment funds abandon the precious metal

Gold fell on Monday, after rising by nearly 2% in the previous session, where the fund rid of their holdings of the metal in order to better investment returns in assets involve risky equities.

Gold dropped for instant transactions increased by 0.4% to $ 1,575 an ounce by at 14:06 GMT. And on the metal charts seems likely to retest its lowest level in 10 months at $ 1,539, which was recorded last week, according to the analysts said.

There has been little change on the U.S. futures for gold at $ 1,576 an ounce.

Bank analyst said Commerzbank Carsten Fritsch, “It seems that today we have market sentiment is willing to risk which justifies this weakness in the price of gold.”

“Prices are still threatened in the short term after the sharp decline to the lowest level in 10 months last week and this level can be re-tested again due to continued foreign inflows of gold traded funds in the stock market and by the sales centers of investors in the short term.”

And landed the previous week metal holdings in gold funds in the world’s major exchange-traded to the lowest level since August 2012.

In the meantime, he said the global billionaire George Soros that gold crashed his status as a safe haven but he predicted that the price supports continued central bank buying.

Analysts said that the version of the minutes of a meeting of the Monetary Policy Committee of the U.S. Federal Reserve on Wednesday is likely to be the main economic event for the market.

April 9, 2013
Gold snaps two-day gains on sluggish demand, global cues

NEW DELHI: Snapping a two-day rising streak, gold prices fell by Rs 40 to Rs 29,990 per ten grams in the national capital today owing to slackened demand at prevailing higher levels amid a weak global trend.

Silver followed suit and lost Rs 200 at Rs 52,200 per kg owing to reduced offtake by industrial units and coin makers.

Sentiment turned bearish after gold dropped in global markets as holdings in exchange-traded products declined and the dollar climbed, curbing demand for the metal as an alternative asset.

Gold in global markets, which normally set price trend on the domestic front, fell by 0.2 per cent to USD 1,577.51 an ounce and silver by 0.2 per cent to USD 27.27 an ounce in London.

In addition, sluggish spot demand at prevailing levels further fuelled the downtrend in precious metals.

On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 40 each to Rs 29,990 and Rs 29,790 per ten grams, respectively. The yellow metal had gained Rs 530 in the previous two sessions.

Sovereign held steady at Rs 25,100 per piece of eight gram in scattered deals.

Similarly, silver ready fell by Rs 200 to Rs 52,200 per kg and weekly-based delivery by Rs 215 to Rs 51,325 per kg. The white metal had climbed Rs 800 on Saturday’s trade.

However, silver coins continued to be enquired at last level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

April 9, 2013
Gold edges lower as funds seek better yields in equities

Gold edges lower as funds seek better yields in equities

Gold hit a 10-month low of $1,539.70 last week and is down nearly 6 percent this year

US gold futures for June delivery were down 0.1 per cent to $1,575.20 an ounce

Gold futures on the Tokyo Commodity Exchange surged as much as 4.8 percent to 5,025 yen ($51.71) per gram

Gold edged lower on Monday, after rising by nearly 2 per cent in the previous session, as funds were seen cutting bullion holdings for better investment yields in riskier assets such as equities.

Spot gold dropped 0.4 per cent to $1,575.41 an ounce by 1209 GMT, also hurt by a firmer dollar versus a basket of currencies.
US gold futures for June delivery were down 0.1 percent to $1,575.20 an ounce.

“Equities are stronger, and that’s why we are seeing some profit-taking in gold, but losses could be contained as there is still a lot of uncertainty, especially in Europe, where some issues are re-emerging in Portugal,” Bernard Sin, MKS Capital senior vice-president, said.

Worries over Eurozone debt problems, which resurfaced last month due to inconclusive elections in Italy and a bailout in Cyprus, were heightened after Portugal’s constitutional court on Friday rejected some of the austerity measures introduced as a condition of its bailout.

Gold had climbed nearly 2 per cent on Friday, the biggest gain since November, after data showed US employers hired at the slowest pace in nine months in March, backing expectations the Federal Reserve would sustain a bullion-boosting monetary stimulus programme.

But the metal failed to hold onto gains, with momentum fading as the dollar remained strong and appetite for assets perceived as riskier returned on widespread expectations the US economy will perform better in the longer term despite the latest series of weaker economic data.
“It seems that renewed weakness in the US and Eurozone growth outlook need not produce the drop in the US dollar across the board we saw in 2011,” Citi said in a note.

“We suspect that the US cyclical leadership would remain intact even if the economy goes through a ‘soft patch’ in coming months.”
European equities clawed back some of the previous session’s hefty losses, as investors snapped up the beaten-down complex.

Gold hit a 10-month low of $1,539.70 last week and is down nearly 6 percent this year. In contrast, the S&P 500 stock index has gained almost 9 per cent.

The release of the FOMC meeting minutes on Wednesday is likely to be the next main economic event for the market, analysts said.
“Market participants will be keen to get further clarity on where Fed members stand on QE, particularly given rising talks of flexibility and potential tapering of asset purchases,” UBS said in a note.

ETF outflows

Bullion holdings at the world’s major gold exchange-traded funds fell in the previous week to their lowest since August 2012.
Meanwhile, institutional investor George Soros said gold had been destroyed as a safe-haven asset but he expected continued central bank buying to support prices.

The physical market remained quiet in Asia after Chinese participants returned from a four-day holiday weekend.

But gold futures in Tokyo jumped almost 5 per cent to near all time-highs, their sharpest daily rise since September 2011, after the yen dropped to near four-year lows on reports the Bank of Japan would begin buying longer-dated bonds immediately to beat deflation.

Gold futures on the Tokyo Commodity Exchange surged as much as 4.8 percent to 5,025 yen ($51.71) per gram, near the record high of 5,081 yen touched in February.

The BOJ last week promised to inject about $1.4 trillion into the economy in less than two years, a gamble that sent bond yields plummeting as prices rose on the prospect of massive purchases of debt by the central bank.

In other precious metals, silver fell 0.3 per cent to $27.21, after tumbling to its lowest level since July 24 on Thursday.
Platinum, which dropped to its lowest since late August last week, was little changed at $1,530.57. Palladium rose 0.7 percent at $731.22.

April 9, 2013
4 things you need to know about platinum

What?

Platinum moved higher during the past week after finally breaking resistance at 1700 USD/oz. It reached a 16-month high at 1744 before traders, already holding a record net-long position decided to book some profit after seeing platinum climb by 11.5 per cent this year and become the top performing commodity.

Why?

According to Ole Hansen, head of commodity strategy, Saxo Bank, “The most recent leg higher was triggered by increased concerns that supplies from South Africa, the world’s largest producer, may fall back due to mine closures and labour disputes. During this rally platinum has regained its premium over gold for the first time since March 2012. The current premium of three percent compares with five-year average of 15 per cent.”

What’s next?

The biggest near-term threat to platinum’s continued move higher is the speculative community itself which have accumulated a record net-long position both through futures and exchange traded products, said Hansen. “The question therefore remains how much further this rally will go before the urge to take some profit exceeds the hopes for additional gains.”

What to do?

“In the short term I would be looking for an additional pull-back considering the strong rally we have seen lately,” said Hansen. “Instead of selling platinum outright I would consider buying gold against it thereby reducing the volatility but at the same time look for the premium to move closer to zero. In the medium term the investment story for platinum is one of support as supply worries will continued to play its part while demand from the auto industry, especially in the Far East remains robust.”

source :gulfnews

April 9, 2013
Gold Price In Dubai today

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 $

April 8, 2013
Spot Gold Price In Dubai 8 April 2013

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.

April 8, 2013
AED 623 billion gold and diamond trade through Dubai in 2013

Dubai yesterday hosted a conference of Dubai for precious metals with a select group of senior officials and executives in the gold sector and a group of prominent workers in the field of trade and the financing of trade in precious metals and gems.

The participants in the conference, which was inaugurated by Dr. Saeed Mohammed Al Shamsi, Assistant Secretary of State for International Organization Affairs at the pivotal role played by Dubai in the trade of gold and precious metals at the global level.

He estimated Ahmed bin Sulayem, Chief Executive Officer DMCC target size for gold and diamond trade through Dubai by the end of the current year by about $ 170 billion, or about 623 billion dirhams. And grown gold trade through Dubai from $ 56 billion in 2011 to $ 70 billion in 2012.

Ideal platform

He Dr Al Shamsi in his opening speech expressed his happiness presence of participants in Dubai most valuable cities in the world in the region where he will meet leaders cosmopolitans of the precious metals sector to discuss the future challenges and opportunities for the industry with a strong focus on strengthening the global supply chain of precious metals and shed light on the economic conditions and opportunities in emerging markets .

He said that the conference cemented his status one of the most prominent annual events specialized international, providing an ideal platform for workers from around the world to review all aspects of industry precious metals stressing that it is gaining paramount importance in strengthening partnerships and activating the mechanisms of cooperation, coordination and exchange of expertise and access to the application of international best practices on the face of emerging challenges in the area of trade in precious commodities.

And praised the vision of the leadership in establishing Dubai’s position as a gateway global trade precious commodities and create attractive climate for investments backed by legislation and route you take Dubai sat on the throne of trade in goods precious virtue of history and geographical location, advanced infrastructure and the creation of free zones and tax exemptions.

And called for the need to come to endorse and support the nomination of the City of Gold to host the World Expo “Expo 2020” and in particular that this support is linked to the prosperity of the precious metals industry globally.

And the price of the role of the Dubai Multi Commodities in the establishment of high-level forum to promote Dubai’s position at the crossroads between producing and consuming countries in the world which is used as a platform to reach the world referring to the strategic partnerships fruitful with both India and China and the African continent, Latin America and Western countries.

Shamsi reviewed the elements of the strengths of the state’s economy, which mainly stem from economic diversification and attractive investment environment and the complementary relationship with the global economy.

Attractive structure

The Assistant Secretary of State for International Organization Affairs importance of taking advantage of such an environment attractive provided by the UAE in all fields to deepen the base of mutual cooperation and to find more prospects Partnership trade and investment within the framework of the State’s keenness to strengthen its strategic partnerships with economic blocs world to get on a global Advanced achieve the vision “Emirates 2021.

He explained that it is not possible to return the credit for the rise of Dubai to this status to certain countries, pointing out that the guidelines of the Organization for Economic Cooperation on official gold contribute to the upgrading of the status of Dubai for more louder levels.

He pointed out that the organization has organized workshops in Almas Tower for the purpose of these guidelines definition, where the value of the business does not estimated the size of the gains of the money, but the size of the credibility and reliability that are pounds, a goal which is keen Center DMCC to achieve.

He pointed out that the UAE is the only country among the Gulf Cooperation Council (GCC), which adhere to these guidelines. And that it would ease of doing business, transparency and the adoption of best regulations and practices that make Dubai in a position to attract more business gold trade, especially with China and India, which تحتفظان bonds of strong business in the area of the gold trade with Dubai as well as the markets of the Gulf Cooperation Council.

Early vision

He revealed Bin Sulayem that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai may face when developing his foundation stone for the establishment of the Dubai Multi Commodities in 2002 to work on making Dubai account for 50% of the total gold trade world He pointed out that the center is already working on the implementation of these directives from the moment of its inception.

And that he had succeeded so far in contributing to raise the share of Dubai’s gold trade global reach to the proportion of 20%, and asking whether it was possible to accomplish the directives of His Highness Sheikh Mohammed bin Rashid hosting with Emirates Exhibition and Conference International Expo 2020, answered accent categorically that he expected to be implemented this at an earlier date facets of 2020.

Policies

In response to a question on the policies adopted by the Dubai Multi Commodities aimed to increase the share of the Emirate of Dubai gold trade global answered said Gautam Sahital Chief Operating Officer of the operational center of the Dubai Multi Commodities: would follow the guidelines of the Organization for Economic Cooperation and Development on strengthening the responsible management of supply Gold lead to an increase Dubai’s share of the global gold trade through the polarization of more business, is also keen Center DMCC to provide more services and products.

For example, is expected to contribute a gold immediate plans Dubai Gold and Commodities for inclusion in attracting more trading and more trade kind of went to Dubai, which offers more support that would strengthen the status of the emirate as a global hub for the alloy gold.

However, Gautam Sahital in his explanation of the elements supporting the ambitions of Dubai on increasing its share of the gold trade world, saying: In addition to the initiatives mentioned above, the cabinets of precious metals located in Almas Tower plays a big role in attracting more gold in kind, as well as products futures contracts listed on the Stock Exchange Dubai Gold and Commodities Exchange, as well as gold coins in various categories, and lead this diverse mix of products and services to make Dubai in a position to attract more of the global gold trade.

And on whether the Dubai Multi Commodities plans to increase the storage capacity of the cabinets of precious metals, said Gautam Sahital It depends on demand, if there was a growing demand for these cabinets, the center will certainly increase energy storage cabinets to meet the growing demand, pointing out that the services of precious metal cabinets diamond tower is characterized as a high degree of competitiveness in comparison with its counterpart coffers in global financial centers, and that there are no plans to reduce these fees cupboards.

Share

A report by the Center DMCC The Dubai attracts 20% of the total gold trade, pointing out that the total volume of gold trade in 2012 reached $ 70 billion, compared with $ 56 billion in 2011,

The report also pointed out that the role of the Dubai Multi Commodities is not doing business in itself itself, but is structured this role on facilitating business through the provision of appropriate services and infrastructure developed, and then it is like the commitment of all workers in the supply chain, gold rules of the Organization for Economic Cooperation and Development relation to gold in charge, that leads to the reception Dubai more gold trade legitimate, which in turn leads to give the position occupied by Dubai is more momentum, to be a global hub for alloy gold, and it is more than the place they occupied at the moment.

Metals expert: Dubai enjoys huge logistical advantages for marketing gold

Predicted Gerhard Schubert head of precious metals at Emirates NBD increase gold trade through Dubai to $ 100 billion by the end of this year, pointing out that the increase in the gold trade to this figure is an ambitious target and involves challenges, but it is believed that it is possible to achieve this goal , if they were considered to Dubai enjoys advantages as a logistical hub for gold trade, and given also to the Emirates center the networking between Dubai and various regions of the world.

Said Gerhard Schubert’s vision of the Dubai Multi Commodities and Dubai Group Advisory gold target widen the circle of priorities and concerns towards East Asia in general and China in particular, so as to supply China with gold through Dubai, pointing out that these areas are characterized flourishing demand for gold, making the goal of raising the volume of gold trade through Dubai to $ 100 billion as an achievable goal.

He explained Gerhard Choprat to sign a booming gold trade through Dubai issue is broken related to economic conditions the world, pointing out that if they were to look at China, for example, it is one of the major consumers of the yellow metal, although it is considered a major producer of gold, but the size of the demand exceeds domestic production, which makes it annually imports about 600 tonnes, as well as in the case of India, which thrives where the demand for gold, even though it is not on the site’s most gold-consuming.

Hence, Such flows reflect strong demand for gold in South and East Asia, and pointed out that the rules established by the Organization for Economic Cooperation and Development on raising the moral values of gold trade through anti-gold, which is used in funding conflict and civil wars, will have a strong impact on the gold markets, where the center of the Dubai Multi Commodities management of this initiative.

Domestic consumption

He estimated Schubert that domestic consumption accounted for by between 70 to 80% of the total gold trade through Dubai, while being re-export the remainder, pointing out that there are several advantages derive Banks gold bullion, if they had stockpiled gold in the Emirate of Dubai in order to be ready to supply Most markets demand for gold such as the Asian markets.

Schubert said that Emirates NBD is the region’s banks most committed to financing trade gold bullion, even though he entered the newly in this area, which is looking to increase its contribution to this activity.

Opening banks

Said Alison Burns, head of precious metals in the region, Standard Bank in the gallery responding to a question about how open appetite of banks to finance the gold trade that Standard Bank supports the gold markets in the region over many years and that he is committed to continue in this direction, as it offers a combination of services aimed at facilitating trade finance, indicating that banks around the world currently focused on recapitalization, as the funding was not an easy issue during the past few years, and of course, the funding would be a case by case basis.

New products in the Dubai Gold and commodities

Detection Ahmed bin Sulayem, Executive Chairman of Dubai Multi Commodities that processing DME platform electronic new will provide many products and new contracts, pointing out that being the study of the inclusion of a spot gold, as well as the study of the inclusion of the Fund traded shares on the stock exchange and powered with gold, He pointed out that given the inclusion of the Dubai oil futures contract and the Oman crude futures contract.

He pointed out that the rupee futures contract has achieved unprecedented success, and it is being considered to broaden the base currency contracts traded, where they are studying the inclusion of holding the Chinese currency (RMB).

April 8, 2013
AED 1.6 billion Dubai Duty Free sales in the first quarter

Announced Dubai Duty Free to achieve sales growth during the first quarter of this year, which reported a 1.6 billion dirhams (438 million dollars), an increase of more than 12% compared with the same period last year, which heralds the possibility of achieving market figures excellent this year, which which celebrates the 30th anniversary of its inception. jumped Dubai Duty Free space for retail sale at Dubai International Airport from 18 square meters to 26 square meters after the opening of Terminal (Concourse A), allocated to the Emirates fleet of model A.083

Said Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free: initiated the market year of the current well, and without a doubt has contributed to the opening of Terminal A (Concourse A) in this successful start, where met with this new facility welcomed a wonderful by travelers, and allowed us to a chance to be the first to offer many products including the provision of retail services in the lobby of the first-class lounge Aye (Concourse A) allocated to the Emirates, which is going to work with to the fullest, has been possible for us to expand our products existing and provide new brands, is some of the first of its kind in the region. ”

Showed sales operations through the gates of the Dubai International Airport three remarkable rise, which saw sales Gate 3 allocated to operations Emirates increased at a rate of 19%, and is the largest in terms of sales volume cumulative Dubai Duty Free, which represent 61% of total revenue, however, that the average spending travelers at Gate 1, which represents 31% of sales is a top gate sales also rose 2 by a large number amounted to 22% during the first quarter of the current year.

Top Sales

And maintained varieties major such as perfumes, gold on the forefront in terms of achieving the highest sales during the first quarter of the year, which saw perfume record sales of $ 246 million dirhams ($ 67 million), an increase amounted to 16%, while the achieved sugars and sweets increased by 16 % registered 130 million dirhams ($ 36 million), and sales rose electronics 12% after it posted a 119 million dirhams ($ 33 million), and increased sales of cosmetics by 13%, achieving 109 million dirhams ($ 30 million), and watches 23% registered AED 99 million ($ 27 million).

Employment

In line with the recent expansion of the retail outlets in the Dubai Duty Free has accelerated the pace of hiring in the first quarter of 2013 through the appointment of a new 648 sales assistant, bringing the total number of Dubai Duty Free staff to 5,717 people.

April 7, 2013
Dubai a global center for the gold trade others trying reproducible

Said Munir Ragheb Kaloti, Chairman of the Board “Kaloti Jewellery”, the parent company of Kaloti, that Dubai will become the center unique in the world in gold trading, and this in mind, the company has in the expansion strategy in the Middle East to the opening of the largest refinery of gold in the Jumeirah Lakes region, a global refinery in terms of design approval for the systems work environment-friendly, as it comes in the company’s business expansion with growth in demand for gold bullion from which our production ranges between 300 and 400 tons per year.

He Kaloti that the value of trading in gold and precious metals across the company “Kaloti” bourses world reached 32 billion U.S. dollars last year, where the company has dealings with the most international stock exchanges operating in the trading of gold and minerals through the operations room run by professional intermediaries working around the four Twenty hours a day, the company is present in most stock exchanges of the world, we are members of both the New York Stock Exchange “NYMEX,” the Stock Exchange “Comics”, and Borse Dubai Metals and Istanbul Stock Exchange and other world stock exchanges, as well as so we are in the process of expanding our services through the creation of a platform for e-commerce .

Kaloti explained, that Dubai has turned into a global center for the gold trade is trying a lot of other cities reproduction of experience in this sector, where Dubai is the focus of attention of global investors with increased interest in gold as a store of value because of recurrent economic crises that hit the global economy.

He attributed Kaloti, achieving Dubai this position to its trade relations traditional in this precious metal and proximity to key markets such as India, China and Turkey, as well as open markets, new business in Africa and Asia until she was named the “City of Gold in the world” is superior in on Singapore, pointing out that the market share of the company and trade gold bullion trading in Dubai, ranging between 35 and 40%.

He Kaloti, that the investment environment stimulating the absence of income taxes or import, as well as the trend towards the establishment of free zones such as the Jumeirah Lakes Towers, which embraces the leading companies in the manufacture of gold and precious metals, as well as a stock of gold in Dubai and the trend towards the establishment of many refineries and storage places, are all factors that have helped Dubai to be at the forefront of cities in the yellow metal trade. And, consequently, the details of the interview:

How was the beginnings of group “Kaloti” in Dubai?

The beginning was in the field of general trade in minerals other than gold, after the specialty Munther pistil, a family member, in the jewelry industry at an Italian university, worked company كالوتي on the exploitation of this experience in establishing a jewelry factory in 1988 and then went refinery. It is now controlled a large part of the gold bullion trade in the region.

What strategy depends in your work in the coming period?

The strategy of our business in the next stage based on laying the groundwork necessary to meet the global demand for our services, where we raise production capacity through the development of human resources and increase efficiency as well as relying on professional counselors and to provide new products and services, and the geographic expansion of our services requires the formation of professional management. This strategy will enable us to meet the needs of the market for a comprehensive and integrated services, where we are one of the few companies that offer a range of integrated services through a single channel.

Does the company achieved good growth rates in the markets of the region?

The strategy to maintain an annual growth rate of between 20% to 30%, but the company achieved these rates are good, it is noticeable that there is significant growth in our customer base, especially with the increased interest in gold as a store of value and this year we have spent 25 years in the this industry.

What about the size of the trust between you and this broad base of customers?

There are large areas of trust between the company and its customers are based on experience in the markets, where we Hasalon full accreditation from the “standard of Dubai to deliver the goods,” and the Hong Kong market trading, which makes alloys we produce valuable guaranteed anywhere are traded in, the witness of matching Dubai standard for the delivery of goods, which is characterized by proactive monitoring is the most stringent of gold bullion. This is the certificate as a confirmation of our commitment to international standards, and thus the gold bullion that we produce acceptable trading on the Dubai Gold and Commodities, in addition, will be Trgitna from a member of assistant to a full member of the London market for the alloy gold, as well as that we Hasalon the ISO. Jewelry also Kaloti is a member of the Dubai Gold and commodities, and Dubai Advisory Group for gold, and the company is following a strict policy was revised to comply with international laws and regulations to combat money laundering and terrorist financing.

Are you are members of any of the global gold exchanges?

We are located in the most important centers of international exchange and are able to provide our customers who are in all over the world the best prices, seven days a week, 24 hours a day, the company is present in most stock exchanges of the world, we are members of both the New York Stock Exchange “NYMEX,” the Stock Exchange “Comics” Exchange and the Dubai Metals and Istanbul Stock Exchange and other world stock exchanges, as well as so we are in the process of expanding our services through the creation of a platform for e-commerce, as the value of trading in gold and precious metals across the company “Kaloti” bourses world reached 32 billion U.S. dollars last year, where the company’s dealings with the most global stock exchanges operating in the trading of gold and minerals through the operations room run by professional intermediaries working around the twenty-four hours a day.

Do you have any projects for the establishment of refineries in countries outside the region?

There are many projects under study and implementation abroad, and is headed by a project with the government, “Sornam” to create a refinery of the largest refineries in this small state with a large-scale production, which is expected to increase the production of “Sornam” of gold of about 40 tons, the current year to 60 tons, almost During the next three years.

How do you see Dubai for raw gold trade at the world level?

We are confident that Dubai (Center DMCC) will become the Center for Global Trade gold bullion soon as will build refineries for gold at the highest levels of the development of modern and environmentally friendly in the Jumeirah Lakes Towers, where the center offers DMCC us all the necessary facilities to launch services on a global level.

What’s the most important projects for you in the coming period?

Of the most important projects for us is a project to build a refinery is one of the one of the largest refiners of gold in the world in the compound of gold in Dubai, which is expected to raise by our production to three times what we produce factory in Sharjah, where we aim to reach 1,000 tons كقدرة productivity per year which is equivalent to three times our current capacity.

What drew advantage of your presence in Jumeirah Lakes area?

The company has been successful to have been selected Tower “Diamond” to be a center for bullion trading operations undertaken by the company, which is an important center for gold and jewelery trade in Dubai. The strategic location will help us to strengthen our operations and our brand, and our presence in this strategic region for the gold industry and diamond added a lot to us through the identification of our potential customers, as well as the proximity of the center of trading gold cross “DGCX” and proximity to refineries gold and places storage.

How do you see the future of Dubai’s gold trade?

Will be Dubai focus of attention of investors with increased interest in gold, because of their relationship to traditional in this precious metal and proximity to key markets such as India, China and Turkey, as well as entering new markets in commercial relations with Dubai in the gold sector like a lot of African markets, also contributed free environment taxes and other government initiatives such as the establishment of free zones and the establishment of the Dubai Gold Exchange and the launch of Dubai matching the standard for delivery of goods in the development of Dubai in the spotlight. We are excited to be a part of the process of building a future in Dubai, where the company acquires a percentage of the gold bullion trading, ranging between 35 and 40% of the total trading of gold ore in the market. According to Gulf

April 7, 2013