Gold prices in Dubai slump three AED per gram over the past week has seen sales of gold relative stability backed down prices, and the enthusiasm of tourists on the purchase, while sales of bullion and gold coins drop rates mixed in demand, as a result of the fluctuation of prices during the recent period, expecting to record sales growth in the coming days on the occasion of subsidized «Easter holiday».
In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 153 , gram 22 carat DH 144 , Gram- 21 carat DH 138 and settled gram 18 carat DH 117 .
Said many gold traders that «Sales are currently experiencing what is described as a positive stability in demand for jewelry, caused by a decline in gold prices finally, what contributed to the limited improvement compared to last week».
«Goldsmiths were Most popular during the past few days, backed catching on tourists and residents to purchase, compared to rates of demand for sales of bullion and gold coins».
Sales have been limited to some goldsmiths light, so with the expectation of the majority of dealers declines new incentive to buy a similar price to the border, through Feb.
Gold prices continued to rise in UAE for the fourth day in a row with the high price of gold, where prices recorded a rise in the Dubai market worth DH 3 Per gram
In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 155 , gram 22 carat DH 147 , Gram- 21 carat DH 139 and settled gram 18 carat DH 119 .
Stabilized the price of gold without its highest level in two and a half day Friday , and headed for the best week in a month amid weakness in risk appetite with growing hopes of not raising the Federal Reserve ( the U.S. central bank ) interest rates in the next year at the earliest.
The gold record on Thursday, the highest price since March 24 about 1324.40 dollars per ounce after the minutes of the meeting showed the central bank in March that officials do not hurry to raise interest rates after the termination of bond-buying program , which was feared by markets .
And settled spot price of gold was unchanged at 1319.03 dollars an ounce at 0955 GMT . The metal rose 1.2 percent this week, heading for gains for the second week in a row .
The price of gold in U.S. futures contracts for June delivery was up 0.1 percent to 1319.40 dollars an ounce .
Silver rose 0.3 percent to 20.06 dollars an ounce .
And platinum rose 0.5 percent to hit U.S. $ 1455 and palladium 0.1 percent to 787.30 dollars an ounce .
Gold prices fall between DH 3.5 and DH 4.5 per grams compared to gold price last week according gold prices in Dubai Gold Souk as yellow metal continues its losses for the second week in a row, after a series of continuous rises lasted seven weeks.
Gold prices in the UAE for Gram 24-carat DH 152 , gram 22 carat DH 144 , Gram- 21 carat DH 136 and settled gram 18 carat DH 116 .
The officials Outlets agreed that gold and of jewelry sales in a state relative stability in the demand and the majority of dealers awaited recording of additional declines over the coming period.
Prices in the UAE have seen an average of 2 per cent drop in the last two months — what’s happening is that the local wholesalers are buying more of Indian-made jewellery and this is then released to local retailers,” said Shamlal Ahmad, managing director of international operations at Malabar Gold & Diamonds. “In an intensely competitive retail environment, these lower price points are being passed on to the shopper.
“Because a small jewellery retailer here has access to the same designs and pieces that a bigger chain might have, it will be impossible to maintain a big difference between prices at different shops.”
There will be pressure on Indian jewellery firms to seek higher export returns given India’s 80:20 requirement, i.e., that 20 per cent of all their offtake should be shipped out. Only if they meet this requirement will they have access to the 80 per cent they can then sell into their domestic markets. India brought in this regulation as part of a series of measures to cool down demand for the metal and its various forms in its home market.
Gold record the lowest level in six weeks yesterday and went down to about $ 1,300 an ounce for the first time since mid-February with exposure to price pressure due to speculation that U.S. interest rates will rise faster than expected and the decline of tensions over Ukraine .
Traders said selling accelerated with the descent of the metal on the level of technical support psychologically important $ 1,300 an ounce and the moving average day in 1296 to two hundred dollars an ounce . Prices fell to its lowest level since February 13 at 1291.36 dollars an ounce . The decline in the spot price of gold was up 0.8 percent to 1292.99 dollars an ounce , taking its losses this week to three percent .
The U.S. gold futures fell for April delivery 9.40 dollars an ounce to 1294 dollars . Silver fell in online transactions 0.2 percent to 19.64 dollars an ounce . Platinum was down 0.1 percent to hit U.S. $ 1397.25 an ounce and palladium fell 2.4 percent to 756.75 dollars.
Gold prices today dropped 2 AED per gram in Dubai Gold Souk with the decline in world gold prices to $ 1310 /OZ .In Dubai, the city of gold, one gram of 24ct gold was retailing for Dh 155 .
Gold prices in the UAE for Gram 24-carat DH 155 , gram 22 carat DH 148 , Gram- 21 carat DH 139 and settled gram 18 carat DH 119 .
At the other hand, Gold prices rose in Asian trade on Tuesday, recovering from its lowest level in a month , which noted in the previous session, with the support of purchases to cover short positions and an increase in holdings of index funds backed by the precious metal , but expectations of higher U.S. interest rates and the lack of actual purchase restricting gains.
The price of gold for immediate sale 4.43 dollars to 1313.55 dollars per ounce by the time 0337 GMT, moving away from its lowest level since Feb. 20 of $ 1307.54 dollars , which fell to him on Monday, but without the highest level of 1391.76 dollars which jumped him last week .
And increased Futures U.S. Gold $ 3.00 to U.S. $ 1314.20 an ounce .
The yellow metal a loss of 3.5 percent last week after it surprised the president of the Federal Reserve ( the U.S. central bank ) global markets on Wednesday when he pointed out that interest rates may rise later faster than expected
Gold prices UAE settle this week at an average of 161 AED per gram of 21-carat according to the price of gold in the gold market in Dubai and Zayed City Market for gold in the capital Abu Dhabi
Many gold traders in Dubai said that gold sales is still high with low gold prices and international prices of gold today in Dubai Dh170 per gram 24 carat, gram 22 carat today Dh 161 and gram 18 carat today Dh130 .
Said gold traders in Abu Dhabi that turnout increased in the recent period for gold jewelry with special light for some tourist groups who prefer to buy souvenirs before leaving the golden state
And expected to see sales of gold in the United Arab Emirates vogue during this month, especially with the return of expatriates and a decline in global gold prices.
Gold prices fell on Saturday as investors found value after a two-day slide caused by heightened concerns the US central bank could start tapering its monetary stimulus, but gains were held back by a rocketing dollar.
Gold rate in Dubai today down by DH4 for gram , The price of 24-carat gold Dh164.50 a gram , 22-carat gold Dh166 a gram , 21-carat gold Dh146.85 a gram and 18-carat gold Dh126.25 a gram
Gold fell below $ 1,400 an ounce on Friday on speculation that a U.S. military strike against Syria has become less likely to occur after strong U.S. data confirmed expectations that the Federal Reserve may reduce cash stimulated soon.
American officials acknowledged said Thursday that they have no evidence that Syrian President Bashar al-Assad personally ordered the poison gas attack on civilians last week, while the British parliament rejected the state’s participation in any US-led military action against Syria.
Gold fell for instant transactions 1% to a session low at $ 1,392 an ounce. And decreased by 1% at $ 1,393 an ounce at 13:56 GMT.
And U.S. futures fell for gold for December delivery $ 18.80 to $ 1,394,00 per ounce.
The metal had risen to its highest level in three and a half months at $ 1,433 on Wednesday and accepted the second consecutive monthly rise of about 5%.
The dollar index settled near the highest levels in four weeks after data showed that the pace of business activity in the U.S. Midwest region rose to 53.0 points from 52.3 points in July, matches the expectations of economists.
Increased demand for gold bullion and the absence of any in Dubai gold market has become a real indicator of Dubai’s gold Worth during the past months. And supported the current decline in gold prices increased gold sales as gram price of gold fell more than 11 dirhams a day is the most Decline since three years compared to gold prices last week.
The price of gold gram of rounds (24) carat 156.5 dirhams, a decrease of 11.5 dirhams for the end of the previous week, while the price of Gram-caliber (22) carats 148.25 dirhams, down amounted to 10.25 dirhams.
The price of gram (21) carats to 139.75 dirhams, a decrease of 10 dirhams, and the price of Gram (18) carats 119.75 dirhams, down at nine dirhams.
He said many gold traders in Dubai that Decline of gold prices in UAE to pay a large number of dealers to rush to buy especially before the start of the holiday season for expatriates.
He added that sales of jewelry and bullion and gold coins rose by up to 30% and the entry into force of gold bullion in Dubai, the lowest price since three years
In turn, the official said sales in the shop «Jewelry days», Jalish Sakr, that «the dips price of new re-activity and the rates are great for gold markets, after it experienced during the past four weeks, slower sales, with the achievement of gold rises limited in succession, made purchases limited gifts of jewelry small and lightweight only ».
He revealed that «the decline in prices prompted traders to buy gold artifacts in large quantities for weddings occasions, also encouraged others to buy and bullion coins for investment purposes and savings.
He predicted Mohammad Eisaei official store sales «Romaizan For Gold and Jewellery» Gold prices continue to decline in the coming period, which pounces increase sales both jewelery and bullion and gold coins.
DUbai Gold Rate – Gold Prices in dubai down this week by 5-7 AED per gram compared to gold rates by end of the previous week, according to the Dubai Gold & Commodities Exchange .
Gold trader in Dubai said that the declines in prices, contributed to the improved demand for purchase, and lifted sales of works by up to 20%, arguing that the rates of decline price paid large number of dealers to buy gold, in preparation for weddings and holidays Summer , especially as the gold prices before rates achieved recent declines were in the range of positive, compared to prices during the months of January and February.
And detailed, the price of gram ( 24) carats yesterday was 185.25 dirhams, down 6.75 dirhams by the end of the previous week, while the price of Gram ( 22) carats, 174 dirhams, down 6.75 dirhams, and arrived gram (21) carats to 165.5 dirhams, down 5.5 dirhams, and the price of Gram (18) carat 142 dirhams, down 5.25 dirhams.
Gold and Jewelry trader in Dubai said that «outlets selling jewelery experiencing an upswing by dealers to purchase, in an attempt to take advantage of falling prices about six dirhams per gram», indicating that «prices did not check their current itself, since a long time.
Added that «sales of jewelery and gold coins recorded a growth ranging between 15 20%, supported by the turnout dealers are preparing for weddings and summer holidays», indicating that most of the sales were to buyers from Arab nationalities.
And they confirm «Gold prices recorded declines at high rates, which contributed to raising the sales works towards 20%, especially as the prices even before the decline weekly latter was in good levels for buyers as It was less than the prices of January and February, expected to register sales growth in larger proportions, if prices continue at rates close in the coming days.
DubaiGoldRate– Officials gold shops jewelry in gold markets of Dubai , said gold sales rose hovered rate between 20 and 30% this week, due to the demand of dealers to buy gifts on the occasion «Valentine’s Day», also declines in the prices of gold worth $ 3.5 dirhams per gram contributed to the brisk sales to residents and tourist groups.
Globally, a report showed «orientations gold demand for the fourth quarter of the year 2012», which was introduced by the Foundation «Reuters», that global demand for gold in the last quarter of the year 2012 achieved million 195 thousand and 900 tons, registering an increase of 4% over the same period of year 2011.
UAE Gold Prices yesterday, a decline ranged between 3.5 and 3.75 dirhams per gram of various calibres, compared to the end of last week, according to price signals declared until yesterday afternoon, in Dubai and Sharjah.
The price of a gram of gold 24-carat 197 dirhams, a decrease of 3.75 dirhams for the end of the previous week, while the price of a gram of gold 22 carats to 185.25 dirhams drop of 3.5 dirhams.
The price of a gram gold 21 carat 176.25 dirhams, a decrease of 3.5 dirhams, at a time of record of gram 18-carat 151 dirhams a decline of 3.5 dirhams.
The director of the company «Dhecan for jewelry and trade works», Jay Dhecan, that «outlets of the company witnessed a growth in sales during the current week rates stood 30%, compared to last week, because Iqbal dealers to buy jewelry of all kinds, gifts occasion (Valentine’s Day ), pointing to the «gold price declines differently since the beginning of the week, until yesterday ranged between 3.5 and 3.75 dirhams per gram of various calibres, prompting traders to buy gold gifts.
In turn, agreed official sales in the shop «Jewelry days», Jalish Sakr, with his Dhecan in that «Valentine’s Day» raise rates demand for sales, especially on gifts gold colored, or which forms the hearts, both for necklaces or rings » . He stressed that «sales rose at a rate of 20%, supported by a decline prices compared during last week.
He pointed out that «the most sales in outlets focused on the works of Ayari 18 and 21 carats, as most works that are formulated and Trsaaha in various forms, such as hearts, colored in red, or to innovative forms.
In the same vein, said Director replace «Lausanne Gold and Jewellery», Fadi Pedro, that «(Valentine’s Day), and lower prices, shares in the increased sales rates reached 25% during the past week, with increased demand from tourists and residents, especially from Arab nationalities and European. He pointed out that «although sales have seen a rebound, most of the sales were concentrated in small jewelry gifts, especially manufactured and studded with colored forms.
Gold globally
Globally, the volume of global demand for gold during the year 2012 to 236.4 billion dollars, its highest value ever, while the value of global gold demand in the fourth quarter of last year to 66.2 billion dollars, an increase of 6% on the an annual basis, its highest value at all compared to the previous recent sessions, according to a report by gold demand trends for the last quarter of year 2012, which was introduced by the Foundation «Thomson Reuters GFMS.
The report showed that global demand for gold in the last quarter of the year 2012 achieved million 195 thousand and 900 tons, registering an increase 4% for the same period in 2011, with record average price of gold in the last quarter of the year 2012 record levels, reaching 1721.8 dollars per ounce, registering an increase of 1% for the standard price rate in the third quarter of year 2011.
The average price for gold 1669 dollars per ounce during the year 2012, an increase of 6% compared to an average price in 2011, when he scored 1571.5 dollars per ounce.
India and China
The report pointed out that, while the demand for gold in India throughout 2012 decreased by 12% for the year 2011, but the market has seen a strong recovery in the last quarter, reaching a volume of demand 261.9 tons, an increase of 41% compared to the period same quarter last year.
The volume of demand for gold and the highest levels of investment over the past six sessions financial, as the volume of demand for gold jewelry by 35% from previous years, to reach 153.0 tonnes. The strong demand for the retail sector to higher purchase for investment purposes to 108.9 tons. The report also pointed out that the demand for gold in China has seen stable on an annual basis, influenced by the economic slowdown, adding that in the last quarter, the volume of demand for gold rose 1% from the third quarter to score 202.5 tons, the total volume of demand for gold jewelry 137 tons, registering an increase of 2% compared to the fourth quarter of year 2011. While the total size of the demand for investment 65.5 tons, registering an increase of 2% compared to 2011.
Central banks
A report «orientations gold demand for the fourth quarter of the year 2012» high rate of buying gold with central banks throughout the year 2012 by 17% compared 2011, registered record levels since 1964, with a total demand 534.6 tons . He added that the volume of central bank purchases record 145 tonnes in the fourth quarter, registered an increase of 29% compared to the same period in 2011, making central banks topping the main purchasing power of gold over eight consecutive financial cycles. The recorded investment in global ETFs remarkable increase of 51% for the year 2011, while the volume of demand for gold in the fourth quarter 16% to 88.1 tonnes, compared to the standard rates achieved in the third quarter of 2012.
Gold markets
The executive director of the investment in the World Gold Council, Marcus pod, that «China and India to Atzalan largest gold markets in the world, despite the economic challenges, in India is still demand for buying gold is strong, despite the measures imposed to reduce the demand, which underscores the the role of gold in Indian society », adding that« the financial system in India is still primitive, but gold plays an active role. He mentioned that despite the expected economic slowdown in China, the size of the investment demand rose by 24% in the last quarter of 2012, compared to the previous quarter, while its gold consumption stable at 137 tonnes. He stressed that «the central banks have seen a transition from being a power of sale of gold purchasing power in recent years, as a record size of the informal sector procurement in all parts of the world the highest levels over nearly half a century. He pointed out that «despite the turmoil economic climate during the current year, and regional challenges that have affected India and China, the size of annual demand for gold record in largest markets worldwide increase 30% from the rate over the past decade».
Dubai Gold Price Today in Dubai Gold Exchange record a decline by 0.12% to reach the rate of $1654.12 USD/Ounce of gold in Dubai exchange.
Gold prices have retreated a bit on Monday and Investors cautious ahead of the Fed meeting Union (the U.S. central bank) and is scheduled to reveal more details of the quantitative easing policy.
The prices of the platinum group scored Spot palladium its highest level in more than 16 months, supported by indications on a more optimistic economic outlook is expected to support the demand for industrial metals.
And down the price of gold on the spot market up 0.1 percent to $ 1656.40 an ounce at 1026 GMT, after falling 1.5 percent last week, the biggest weekly decline in a month. And fell to its lowest level in two weeks at $ 1654.74 an ounce earlier.
And down the price of gold in U.S. futures contracts 0.1 percent to 1655 dollars.
It is expected that the statement identifies the Federal Open Market Committee next Wednesday direction of gold in the short term.
Were signs of stability in the euro area and the recovery of the U.S. economy prompted investors to assets that involve risks such as stocks pushed U.S. stocks to rise for the eighth consecutive day.
The latest International Monetary Fund data for gold reserves to Korea and Russia Zadta What possession of the metal in November and December respectively while reducing Iraq in possession of gold by a quarter in November as deactivated some efforts recently to increase reserves.
Buying market rose present in Asia but appeared lukewarm compared with the past few years, when purchases were usually rises ahead of the Lunar New Year celebrations in China that compete with India on the status of the largest gold consumer in the world.
The price of silver in the spot market 0.4 percent to 30.96 dollars an ounce.
The price of palladium on the spot market to $ 741.75 an ounce, its highest since the ninth of September 2011 before falling back to $ 739.97 an ounce to remain up 0.3 percent.
The price of platinum increased 0.4 percent to $ 1687.49 an ounce, recording an increase by about ten percent since the beginning of the year.
