Member of the Economic Commission: Iraq has a large reserve of gold is not affected by the volatility of world prices

On: Friday 2/24/2012 9:57

Baghdad (news) .. A member of the Economic Commission deputy / coalition in Iraq / Qusay Gomaa said Iraq will not be affected by fluctuations in the price of gold in international markets because it has large reserves of gold and jewelry.
said Friday (the Agency news): that the rise winning the gold price on world markets is the result of economic crises witnessed by some of the world, which also led to increased food prices and commodities in general being affected with each other.
ruled affected by the local markets to increase taking place at prices world gold the result of what is owned by Iraq’s large reserves of gold, both at the level of traders or amateur gold from citizens , they are buying large quantities of it and when it brings its price a little bit they throw it to the local markets, which generate the balance on the subject of supply and demand.
He had expected a member of the Committee of Economy and Investment parliamentary and MP / coalition in Iraq / Nora Salem rising price of gold during the current year as a result the economic crisis World. said Salem in an earlier statement (the news): The current year will increase significantly in the price of gold globally as a result the economic crisis that has hit America and Europe, which led to instability in the prices of materials and goods in world markets, saying: that the price of gold will go towards the rise of far. The global markets during the current period are rising gold prices dearly, making citizens fear the high price in local markets. / Finished / 8. j.