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Gold prices have been declining in the global and local markets
06/20/2012 0:00
Expectations of the precious metal depletion
Baghdad - Haider al-Rubaie Filaih
gold prices have fallen sharply in the domestic market during the past few weeks, and the watchers attributed the causes of the decline to lower precious metal prices in international stock markets and the return of natural prices to what it was before the global economic crisis. Shows the economists that the reasons that led to the rise of gold in the past years is the resort of many investors and speculators in the markets and world stock exchanges to trade in this metal, which is the home secretary of the dealers in it, especially after the decline in oil prices in 2009 and the decline of property prices after the global crisis, the two factors which led to export the precious metal for indicators of global markets and stock exchanges the major.
and is an expert on economic affairs of Iraq, Dr. Hisham Hassouni that all items are running out of experiencing fluctuations in price are usually sharp, which means that gold, which refers sources to start emptying Mkamenh remarkably in countries that is the most prominent citizen of gold in the world.
believe Hassouni that the recovery of major markets from the effects of the global crisis and re-issued real estate and oil prices for screens bourses major, all of which led to a decline in demand winning precious metal internationally, and thus reduce prices sharply.
The price of Almthagal one of gold 21-carat price of 270 000 dinars, while the nearly 350 000 less than three months in Baghdad and other provinces and is expected to specialize in economic affairs to stabilize prices of the precious metal in the general markets of Iraq during future periods, Marjaheen to see the turnout is the other stable similar the more stable demand factors, which they said were high at the moment.
It seems that the weights continued decline in prices of gold will continue with the emergence of new crises in global economic, according to what sees as beautiful, Antoine, who confirmed that the gold market of Iraq are closely linked with their counterparts the world, so any decline is happening to the gold in the international stock markets quickly reflected in the local markets of Iraq.
shows Antoine that global crises recent influenced remarkably on the many countries that are now beginning to sell large quantities of the precious metal in international stock markets, and met this sale a drop in demand for the fear of investors and speculators those stock exchanges which shapers situation in the coming days and this has led to a decline in gold prices is clearly in the whole world market and thus fall in the markets of Iraq and the region.
The weights that the global crisis on the euro zone could be exacerbated in the event of failure of the some of the parties to the mutual agreements on the support of some countries economically and financially, especially Greece and Spain, which began to suffer from economic problems accompanied by a decline in ratings of the global financial, and this also refers to that Antoine will drive a number of countries Aalunih to use Bmkhozonadtha Federation of gold to walk affairs in finance and to reduce the problems of recession, which began ravaging a large number of EU countries, and this factor will lead and no doubt to the clear decline of gold prices in international markets, and then decline in the domestic market, especially as indicators now demonstrate the existence of fear project with many investors from buying the yellow metal in anticipation of what Stbulgh things of the global economic during future periods.
emphasizes Antoine that gold relationship other directly prices of oil, which began its prices are the other to back down in the past few days, pointing out that the Iraqi market is affected by rates of world oil prices, which witnessed a volatile clear contributed as well to reduce the price of gold.
not far behind economic expert reconcile inhibitor for the previous opinion, which hinted that the crisis of the European Union began to cast a shadow on the global markets in general, stressing that Portugal proceeded during the past few days to sell large quantities of gold to walk some of affairs in the economic hit by recession as a result Tdaeit crisis, and these quantities of gold has worked to increase the volume of supply were offset by a decline in global demand and therefore prices fell the precious metal.
predicted inhibitor to continue decline in prices of gold in Iraq to decline in the rest of the world markets, adding that among the reasons that also contributed to slope index price of gold is financial speculation prices, currency , especially the dollar and the euro, which is directly affecting the low or high prices of gold, saying that most of the international financial investors follow the fluctuations in currency rates and gold at the same time, prompting them to reduce the size of their purchases by the apparent decline in both gold prices and currency values other financial.
and marks the inhibitor other reasons he said were contributing factors are clearly the progress of gold rose before the cause of the factors Petradjah, noting that among those factors are fears that accompanied the change of the Iraqi currency, and to delete three zeros of them, and this led to direct many of the families Iraqi acquisition of gold as a home safe for investment, is born a kind of growing demand offset by a rise in prices, which is what he said about Mani that he ((is normal due to the law of supply and demand in the economy)) is that the inhibitor pointed out that the news be patient in the decision to delete the zeros recommended by the government recently born a decline in demand for gold is clearly offset by a marked increase in the sale of large quantities of holdings gold for many Iraqi families, and this latest surplus led later to a decline in demand and lower prices in local markets.
The Almthagal is a unit of measurement Gold certified in the local markets of Iraq, which is equivalent to five grams of gold. And excludes the price of gold usually pay the so-called (drafting), which added to the total price of the jewelry sold.
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