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Gold rises after U.S. economic data

Gold futures extended gains in morning trading the U.S. on Wednesday, rising to the highest levels of the session after data showed initial. The U.S. economy shrank unexpectedly in the three months to December

investors awaited the Federal Reserve Board to develop a policy later in the day.

On the Comex of the New York Mercantile Exchange, the futures trading of gold for April delivery is trading. At 681.05. 1 Dolare during morning trading surged. 1.1% from the previous day.

Prices have risen. By up to 1.15% earlier in the session to reach its highest daily level of 681.85, 1 dollars per ounce., The strongest rate since January 24.

Gold prices were likely to find. Support at 653.35. $ 1 per ounce., The lowest price since. January 28 and the near-term resistance. At 685.35, 1, dollars per ounce, the highest price since. January 24.

Gold prices rose after data showed last week that the British economy shrank by 0.3% in the fourth quarter, and put Britain on track and fell recession triple …

A separate report showed that the U.S. private sector jobs added 192,000 in January and exceeding expectations for an increase of 165,000.

A separate report showed that the U.S. private sector added. 192,000 jobs in January and exceeding expectations for an increase of 165,000.

Market participants awaited. Results of the meeting of the Federal Reserve Board policy. In later trading day. It was expected that the U.S. central bank reaffirmed its commitment. On easing program and the unemployment rate fell by. 6.5%.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.2% to trade at 79.44, the lowest level since Dec. 21.

Dollar weakness usually benefit from gold, because it enhances the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

Elsewhere in the Comex rose .. silver for March delivery rose 2.2% to trade at .. $ 1.86 an ounce., While copper for March delivery rose 1.15%. To trade at .3.733 Dolar .

January 30, 2013
Real estate auctions in the UAE

It appears that the real estate market in Dubai is going toward rise; After the showed news headlines in the past week, that an apartment Downtown has been sold twice priced basic, in an auction event in Dubai, it appeared that the country had picked fever history, and haunted realtors hopein their property prices to return to the days before the financial crisis, which hit the United Arab Emirates.

Do not drift behind the hype and excitement:

But do not be fooled by the furore! This is what Mario Volpi from “Cluttons” , the air in the gallery of the property The Property Show Dubai Eye radio this afternoon. Mario continued: I’ve been selling real estate amounting to AED 1.349 million, almost double the price of basic AED 700,000; such a price you paid to buy that apartment, consisting of one bedroom, which is located in the center of the country, it was not a coincidence. Mario pointed out the this is, in fact, was a clever marketing movement carried out by the seller, has attracted crowds of people with this low price (700 thousand dirhams), and leave the rest to the charm and enthusiasm of the auction room, which undertook to raise the price to this extent.

Stumbled Dubai auctions in previous years, as a result of the weak real estate environment, and the failure to raise a fuss about the real estate market. Sellers have learned from their mistakes, and have become devise different methods to promote their properties, and between these methods is to use the media to promote such news, and make a fuss required. But we say, the auctions quick, fierce, and unfortunately, not economic (not an ideal way to capture the transactions).

How to behave in real estate auction:

Mario Give You Some Tips To attend such auctions, and even sales of which:

Put budget in mind, and stick to it: a lot of people are praying to the auction in mind a specific number, and then allow themselves to drift with the Bid inside a room of the auction, on the basis that it is not only a slight increase on the budget buyer, but it may enter into a spiral of bids, and adrenaline the resulting.

Type the number in mind, if it will help you, and take with thee friend you trust, you can say when he graduated from the auction safely. But you, above all, to know exactly what your capabilities are. Watch out! Buyer remorse is a conciliator, may be a great after a heated bidding battle.

Remember why occur Auctions originally: sellers in the auction, they usually banks that are trying to regain the full amount of the mortgage, which was awarded: recover banks home ownership, from the owner struggling to repay the loan, and trying to sell again, without losing any money to protect that struggling. The seller can always choose to withdraw from the auction, if you do not reach the amount paid to the desired number price of the property. Keep your balance, so as to avoid disappointments.

Go to the auction and your eyes open: Bid at auctions means that you have taken a decision to invest, and that you have the full amount that you say in auctions, and that amount is ready to have, and the seller can be paid on the same day. If you buy the property with a mortgage loan, it would complicate it. In order to protect yourself, it may be wise to use an agent in the auction, the traditional way.

Have you ever attended a real estate auction? How was your experience? Share your story with us via a comment below …

January 29, 2013
Gold unchanged at lowest price

Gold unchanged at lowest price

Were little changed on gold futures contracts near the low two weeks during the European morning hours on Monday, as investors were reluctant to buy a stake in the market amid expectations of weak technical.

In Comex of New York Exchange, the futures trading of gold for April delivery is trading at 660.35, $ 1 per ounce during European morning trade, gaining 0.1% on the day.

Prices traded in a tight range between 659.45, $ 1 per ounce, the lowest price for the day and the highest price for the session at 1, 663.65 dollars an ounce. Prices fell for two weeks from 655.15, $ 1 per ounce on 25 January.

Gold prices were likely to find support in the near term at $ 1 647.05 per ounce, the lowest price since Jan. 8 and resistance at 685.35, 1, dollars an ounce, the highest price on January 24.

Gold futures rose at 696.25, $ 1 per ounce on January 17, but lacked the momentum to rise.

Gold fell 1.5% in the last week, the biggest weekly decline since late December, where strengthen demand for the precious metal as a safe haven amid fears decline of Appeal on the global economic outlook.

Gold traders awaited a meeting of the policy-making by the Federal Reserve Board on Wednesday, to get additional hints about future monetary policy .

Investors awaited preliminary data on Wednesday on economic growth data in the fourth quarter in the United States fourth quarter economic report U.S. non-farm payrolls on Friday, in an attempt to gauge the strength of the U.S. economic recovery.

However, any improvement in the U.S. economy may reduce expectations for further action monetary easing from the Fed, and increase the U.S. dollar, which is heavier on commodity prices denominated.

Gold futures fell to their lowest level in four months on January 4, after the minutes of the December meeting of the Fed that the central bank could end its quantitative easing program earlier than expected.

Prices recovered recovered after Male Fed Chairman Ben Bernanke in a speech that he is satisfied with the progress of the U.S. economy did not refer to any reduction by the central bank to buy bonds.

And investors look to the quantitative easing program by the Fed as a major source of major liquidity that would weaken the U.S. dollar helps commodity prices and support other fixed assets, including gold.

Elsewhere in the Comex, silver for March delivery dropped 0.15% to trade at 31.16 dollars per ounce while copper fell for March delivery rose 0.1% to trade at 3.650 dollars per pound.

January 28, 2013
Expected profit growth of Gulf banks during the current year

Expected profit growth of Gulf banks during the current year

Predicted agency Fitch to increase earnings growth of most banks in the Gulf Cooperation Council – GCC – region in 2013, thanks to improved confidence, and the implementation of infrastructure projects, and stimulate local economies, as most of the region’s banks granted a stable outlook with essential support from potential sovereign bonds.

The agency also predicted a gradual improvement in banks’ profits in the region as a result of increased fees, reduced benefits, and control costs, and in spite of pressure to cut rates. She said the bad loan provisions will fall, and that capital levels in general will not be a problem.

Added that the majority of the region’s governments provided support to the banking system by providing additional liquidity and inject capital in a few cases. The agency predicted continued support in case of pressure on liquidity as a result of loan growth.

January 27, 2013
Dubai Gold Prices In Spot Price Today

Dubai Gold price in spot market today record a slight rise by 0.02% Dubai in Dubai spot market 19-1-2013 to reach the level of 1684.50 USD/troy an ounce of gold.

Dubai Gold rate today for 22k reach 190 Dirhams , 24k reach 202 Dirhams and 21k record 180 Dirhams

Gold prices in Dubai show slightly increase this week by 2 Dirhams .

January 19, 2013
Rises in UAE gold prices exceed AED 3 grams in a week

UAE Gold prices yesterday between 2.75 and 3.5 dirhams per gram in various carats, compared with UAE gold rate last week, according to the gold price indices until yesterday afternoon, in the markets of Dubai gold souk and Sharjah gold market.

According to officials of shops trading gold markets in Dubai and Sharjah, that sales saw a decline ranged between ‬ 10 and ‬ 15%, due to lower demand dealers to acquire the yellow metal this week, after the end of celebrations «Holiday Birth», which contributed time to raise sales by as much on average to 30%, supported by the decline in gold prices two weeks about five dirhams per gram.

The price of a gram gold (24) carats ‬ 201.75 dirhams, an increase of 3.5 dirhams by the end of last week, while the price of one gram of (22) carats ‬ 189.75 dirhams, an increase of 3.25 dirhams.

The price of a gram (21) carat 180.5 dirhams, an increase of 3.25 dirhams, and scored gram (18) carats ‬ 154.75 dirhams, an increase of 2.75 dirhams.

The official said sales in the shop «palm Jewellery», to trade gold, Samir Ali, said that «outlets saw this week the return to calm and slow in demand for purchase by consumers, after celebrations (festival BC), which was caused since mid- December elapsed stimulate sales in varying proportions, pointing out that «the high prices this week contributed to a decline in sales, representing an estimated 10%».

For his part, responsible for sales in the shop «Romaizan» for jewelery and gold jewelery, Mahmoud Abdul Ilah, that «several factors caused the decline in sales during the current week, most notably providing dealers financial allocations, to enroll their children season new school next week, in addition to high Gold prices 3.5 dirhams per gram, as well as the end of most dealers to buy gifts during the past two weeks, as record gold during which the decline in prices of five dirhams, prompting traders time to take advantage of lower prices to buy gifts or wedding accessories.

Furthermore, an official said sales in the jewelry store «Design that», Asim Ali, said that «this week saw slower sales as a result of higher gold prices, and declining turnout dealers after buying gifts Holiday Christmas and New Year», indicating that «sales fell percentages ranged between 10 and 15%, compared to last week.

January 4, 2013
Indian government study imposing additional taxes on gold imports

Indian government study imposing additional taxes on gold imports

Called Indian Finance Minister on Wednesday to look for ways to reduce gold imports, which means that the authorities may levy a new tax on it, “It’s under study Government,” he said.

The current account deficit in the budget has reached a record high of 5.4% of GDP during the second quarter of the current fiscal year in conjunction with the country’s vulnerability to further external shocks in conjunction with high gold imports which have become a large proportion of the movement of imports in general.

The government had raised in the last year, customs duties on imports of gold nearly doubled, but in contrast, it led to increase smuggling operations.

According to data from the Ministry of Finance, the total gold imports came in at 20.25 billion dollars of total imports worth 237.2 billion dollars in first half of the fiscal year.

January 3, 2013
Gold continues to climb support of U.S. budget deal

Gold continues to climb support of U.S. budget deal

Gold prices rose from the lowest level recorded during Alosbuaaan two after U.S. Congress has approved a bill sparing the country tax increases and cuts spending $ 600 billion, despite avoiding the largest economy in the world falling into “the abyss of financial” will Congress fights bitter during the next two months.

Gold prices rose immediate as of at 13:18 GMT by 0.67% to record levels trading $ 1685.84 per ounce, recording the highest at $ 1690.11 and a low of $ 1670.17 compared to the opening price at $ 1674.25, silver prices currently trading around levels of 31.06 $ per ounce compared to the opening price at $ 30.31 and recorded a low of $ 30.17, higher at $ 31.08.

Shares hit the highest level in five months, while the dollar fell after reaching a financial agreement in the United States at the last minute and could which was threatening to drag the U.S. economy in the clutches of a new recession and spreading turmoil in financial markets around the world.

The Senate approved Bogelba large and reached 89-9 result Democrats, a few minutes is that separated application shelf financial and between the approval of this alternative proposal, which would eliminate postponing the implementation of the so-called “programs truncation of the budget” for a period of two months, and with the extension of tax cuts for those earning less than the annual U.S. $ 400 thousand.

Vote came by the U.S. Congress as a result of intense pressure by President Barack Obama to activate this plan before you open the U.S. market, which prompted the decision makers to cancel their holidays throughout the past few days to meet to vote and determine the future of the abyss of financial and applied or not.

Copper prices jumped to the highest level in two weeks during Asian trade today supported the approval of the U.S. Congress on a bill sparing the United States fall into the “financial abyss”, but also are supporting prices of positive economic data from China, a major consumer of the metal industry.

Standard copper contracts rose for three months and traded the London Stock Exchange for metals 1.74% to $ 8070.25 per tonne, its highest level since Dec. 19 before retreating slightly to $ 8067.25 by at 04:15 GMT.

January 3, 2013
Gold end the session and week lower

– Spot gold price fell about $1655.80 an ounce

– Gold prices tends to end the year on a gain of 6 percent

– WGC expected upward trend in 2013 with demand from China and India.

Gold prices fell on Friday after it was around the corner from the weekly recording the first increase since November after being baptized traders to push the market lower with waiting a result of last-minute talks on the U.S. budget.

It is due to meet U.S. President Barack Obama with senior lawmakers Democrats and Republicans in the 2000 GMT with the approaching deadline end of the year to avoid the “abyss of financial” of force automatic increases in taxes and spending cuts totaling $ 600 billion at the beginning of the new year.

The record price of gold for immediate sale in late trading on the New York $ 1654.50 an ounce, down from $ 1663.29 at the close in the previous session.

And U.S. futures fell for gold for February delivery 7.80 dollars, or 0.5 percent, to a record settlement at $ 1655.90 an ounce.

The precious metal tends to end the year on a gain of 6 percent, extending a rise for the second year in a row, but remains below the record level of 1920 dollars per ounce set in September 2011.

World Gold Council said he expected the upward trend continues for the thirteenth year in 2013, boosted by growing demand for the yellow metal from China and India.

Among other precious metals decline in the price of silver for immediate sale, about 0.5 percent, to 30.02 dollars an ounce and platinum fell 1.9 percent to $ 1518.75 an ounce and palladium fell 1.8 percent to $ 694.67 an ounce.

December 29, 2012
Expectations: China remain at the top of the list of gold producers in the world

China remain at the top of gold producers in the world

China Gold Association predicted Thursday that China remains the world’s largest gold producer in the world for the sixth year in a row this year. According to the New China News Agency ‘Xinhua’.

Association’s latest data shows that China produced 323 tonnes of gold in the period from December / January to October / October this year, an increase of 11 ‘for the same period of last year.

China surpassed South Africa to become the largest gold producer in the world in 2007 and remained the largest producer until the end of last year, according to a report released Thursday by the Association. China ranks second in terms of the consumption of gold after India, with a total consumption of 761 tons in 2011.

December 29, 2012