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Economist: Local gold price volatility is not affected by the global
On: Friday 2/12/2011 4:43
BAGHDAD / follow-term economic
analyst economic spectrum Abdul Salem Ugaili that gold in Iraq will not be affected by the fluctuating price of gold in world markets, more likely: to keep its price stable in local markets.
said Ugaili's Agency (news): the fluctuations in the price of gold in global markets will not affect the price of locally result that Iraq supported Besadarath and its revenue on oil, so it is affected by oil prices is not affected by price of gold.
Predicted Ugaili during the coming period will witness a gold stable its price as a result of domestic demand has to be limited, "ie, not increase nor decrease, noting that some families have started moving toward buying" like gold "because of its low price and Cyrenaica, which resembles gold.
He explained that this gives an indication that the gold will remain constant at the current price will not be influenced by its price in the world.
He held an economic analyst Iraqi trader manipulating the prices of local gold the result of what is smuggled abroad, or display a large amount in the Iraqi markets leads to lower gold price and rising locally. Earlier, I expected a member of the Committee of Economy and investment representative Rep. Nora Salem high price of gold over the next year as a result of the global economic crisis.
The Salem will see next year, a remarkable increase in the price of gold globally as a result of the economic crisis that hit America and Europe have led to instability in the prices of materials and goods in international markets, stressing that the price of gold will move upward from now.
They noted that China has a big role fluctuating price of gold globally as it has extensive deposits of gold which was considered as a safe haven for their funds to avoid the risk of the global economic crisis to their markets, are described: is either pumped gold and greatly to world markets, or keep it This is what leads to osteoporosis price of gold in the world.
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