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Tag: Dubai Gold

  • The reasons for the decline in gold prices in the global stock market by 45 dollars.. Get to know them

    The reasons for the decline in gold prices in the global stock market by 45 dollars.. Get to know them

    Gold prices fell globally from the level of 1955 to 1910 dollars, after sharp selling operations as traders absorbed the statements of raising interest rates from global central banks, coinciding with the rise of the dollar yesterday, which kept the metal on track for its first weekly decline in seven weeks, according to a report by gold Bullion.

    Gold prices

    Gold prices declined to trade around the level of $1910 an ounce, with a decline estimated at 0.03% at the time of writing this report, after gold lost 2% yesterday, Thursday, due to profit taking, and gold fell by 0.4% so far this week. And with gold prices providing an excellent performance, up more than 20% over the past three months, some profit-taking was likely in the near term, but for gold prices, there could be a greater conviction for sellers is a drop below the $1895 level, according to the report.

    Gold prices have gained around $300 since November due to expectations of a less aggressive interest rate hike by the US Federal Reserve, as the low interest rate environment reduces the opportunity cost of holding non-yielding gold. After the Federal Reserve raised interest rates by 25 basis points, the European Central Bank and the Bank of England each raised interest rates by 50 basis points as expected on Thursday. Meanwhile, the US dollar is down 0.1% at the time of writing, on the data front, investors are now awaiting the US monthly non-farm payrolls due later in the day, unemployment and the wage change.

  • Gold demand in the UAE declined 27% to 2.43 tons in 6 months

    Gold demand in the UAE declined 27% to 2.43 tons in 6 months

    Decline in demand for gold in the UAE by about 27% in the first half of this year to reach 2.43 tons, compared with 1.48 tons in the first half of last year. The data showed the World Gold Council that the value of the demand for the precious metal fell in the first half of this year by about 23% to 8.1 billion dollars, compared to about 34.2 billion dollars in the first half of last year.

    Decline in demand for gold in the UAE by about 32% in the second quarter of this year to 8.17 tons, compared with 1.26 tons in the second quarter 2013. The record jewelery demand decline parallel to 5.14 tons, as well as the decline in demand for bullion and gold coins by 32% as well to 3.3 tons.

    World Gold Council data showed for the movement of gold demand worldwide in the second quarter of 2014, the value of gold demand in the country fell during the second quarter of this year by about 38% to drop to 737 million dollars, compared with 19.1 billion dollars in the second quarter 2013

    Drop of Value of jewelery and gold to 38% to fall to 601 million versus $ 964 million dollars in the second quarter of last year, and the decline in investment demand for bullion and gold coins for itself to 137 million versus $ 222 million dollars in the second quarter 2013. The report showed that demand for gold in the UAE dropped by about 1% in the year ended with the end of the second quarter of this year, up to 8.72 tons, compared to 3.73 tons for the year ended in June 2013.

    The decline in demand for bullion and gold coins in the year ended in June 2014 by about 7% to 5.13 tons, while the record demand for jewelry during the same period grew by 1%, rising to 3.95 tons, compared with 8.58 tons in the year ended in June 2013.

    In terms of value arrived decline in the value of gold demand in the state during the year ending in June 2014 to 18%, up to the value of demand to 03.3 billion dollars against 71.3 billion dollars in the year ended in June 2013.

    The value of the demand for gold jewelery in the same period by 17% to 47.2 billion dollars against 97.2 billion dollars in the year ended in June 2013. As well as the decreased value of the demand for bullion and gold coins by 24% to $ 563 million, compared to $ 736 million during the year ended in June 2013.

  • Gold Price Today in Dubai Rise DH 5 Per Gram after weak U.S. economic data

    Gold Price Today in Dubai Rise DH 5 Per Gram after weak U.S. economic data

    UAE Gold Prices rose this week 5 AD with the high price of global gold after data came in economic growth in the United States weaker than expected, which hurt the dollar, but traders said the failure of the metal to continue the gains indicates that some investors reaping profits after prices hit the highest level in two months in the previous session.

    In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 156 , gram 22 carat DH 1478 , Gram- 21 carat DH 140 and settled gram 18 carat DH 120 .

    And increased the attractiveness of the precious metal as a safe investment risk after data showed that the U.S. economy shrank in the first quarter at a pace much faster than previous estimates.

    Gold rose about four percent in the past four sessions to its highest level in two months on Tuesday at 1325.90 dollars an ounce. The price of gold because of fears of escalation of the Iraq conflict and because of the absence of an explicit commitment from the Federal Reserve (the U.S. central bank) to raise interest rates.

    Gold rose in the spot market 0.2 percent to 1319.85 cricket world cup 2015 an ounce at 1901 GMT, while futures rose gold in the United States hand over August to $ 1.30 to $ 1322.60 an ounce at the settlement.

    Silver rose 0.4 percent to 20.95 dollars an ounce.

    Platinum rose 0.2 percent to 1466.25 dollars an ounce. As palladium rose 0.3 percent to 829 dollars per ounce

  • Dubai Gold Rate Today

    Dubai Gold Rate Today

    Dubai Gold prices rose today one AED per gram with the beginning of the improvement in the price of gold and the return of the demand for gold as a safe haven again

    In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 156 , gram 22 carat DH 148 , Gram- 21 carat DH 141 and settled gram 18 carat DH 121 .

    Gold prices globally strong gains at the start of trading this week , to reach the level of $ 1314 an ounce , the highest price since mid- April.

    « What we are seeing now from altitudes of gold , comes amid seize investors an opportunity illiquidity , as a result of holidays in both Japan and Britain , profit-taking short positions on gold , after that arrived last week to an important technical support levels » , said The Director of the company « ICM Capital » British , Shoaib Abedi
    « the escalation of tension between Russia and Ukraine , added further gains for gold , with recourse to investors , traditionally a safe haven , boosting profits on the strength of the yellow metal » He added

    Abdi confirmed that « Gold is currently undergoing a phase of technical trading , within a limited range , in the presence of conflicting effects on the orientation of gold over the long term , what keep it within the levels traded between an upper limit of $ 1331 , and 1277 dollars minimum trading » .

    He explained that « the markets consider the positive side of gold , to the state of tension between Russia and Ukraine , which makes the pro -altitude gold positions to buy, to escape towards safety , and the use of gold a safe haven , which supports the yellow metal , and paid to the rise in the current period » .

    « geopolitical tension may have important economic implications may pose more pressure , especially on the European economy , which makes gold desirable commodity among researchers about safety , and we see the markets react according to him any new developments on the Ukrainian scene » .He said

  • UAE Gold Rate Climb DH 2 Per gram In A Week

    UAE Gold Rate Climb DH 2 Per gram In A Week

    Gold Price In Dubai record limited altitudes ranging from $ 75 fils and 1 AED for gram compared to prices last weekend, according to list prices in the markets of Dubai and Sharjah.

    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 140 and settled gram 18 carat DH 120 .

    Gold prices rose more than 1 percent on Friday registered the biggest gains of the day in two months after he helped the growing political tensions between Russia and the West over Ukraine and purchases to cover short positions on the precious metal recovery from a strong sales followed the jobs data in the United States .

    The price of gold jumped for immediate sale 1.3 percent, to 1298.30 dollars an ounce in late U.S. trading after it was recorded earlier level rise of more than U.S. $ 1304.90 .

    During the meeting, Gold fell to 1276.60 dollars , its lowest level in a week when the U.S. government said that the jobs data out of the agriculture sector show that the U.S. economy added 288 thousand jobs in April, a figure that exceeds the average forecast of $ 210 thousand and represents the highest increase in jobs since January the second in 2012 .

    And stepped up U.S. futures for June delivery went 18.80 to $ 1302.20 .

    And showed better performance than silver with gold rise 2.6 percent to 19.46 dollars an ounce .

    Platinum rose about 1 percent to 1432.25 dollars an ounce , while palladium fell 0.1 percent to 808.00 dollars an ounce

  • UAE Gold Rate Slides To 10-week low

    UAE Gold Rate Slides To 10-week low

    (DubaiGoldRate) Gold stabilized in Asian trade on Wednesday near its lowest level in more than two months after he led the rise of global stock markets to decline in the attractiveness of the yellow metal as a safe investment and weaken the appetite for funds investing in precious metals .

    In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 151 , gram 22 carat DH 144 , Gram- 21 carat DH 137 and settled gram 18 carat DH 116 .

    And settled the price of gold for immediate sale around 1283.50 dollars an ounce in early trading in Asia, after it was dropped on Tuesday to 1277.10 dollars , its lowest level since Feb. 11 .

    As futures settled U.S. gold around 1283.50 dollars an ounce .

    Officials said that the jewelry industry is expected to go down India’s imports of gold in April and May, half of levels in March with causing restrictions on the movement of cash during the general election in a negative impact on the purchasing power of consumers .

    The global stock markets rallied on Tuesday, supported by strong profits announced by U.S. companies and deals for mergers and acquisitions among European pharmaceutical companies in addition to upbeat data on consumer confidence in the euro zone .

  • 22ct Gold Rate In Dubai Slumps to Dh144

    22ct Gold Rate In Dubai Slumps to Dh144

    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.

  • Dubai Gold Rate Climb DH 3 Per gram

    Dubai Gold Rate Climb DH 3 Per gram

    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 .

  • Dubai Gold Slumps to Dh146 as Further Decline Expected

    Dubai Gold Slumps to Dh146 as Further Decline Expected

    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.

  • Dubai Gold Price Low As Prices Hit New Record

    Dubai Gold Price Low As Prices Hit New Record

    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