Expert: drop the price of gold will reflect negatively on the value of the Iraqi dinar
Expert: drop the price of gold will reflect negatively on the value of the Iraqi dinar
Sunday, April 20 / April 2014 16:19
BAGHDAD / Future News :/ shown consultant association of private banks expert economic peace Sumaisem, that the decline in the price of gold reflected negatively on the value of the Iraqi dinar against the U.S. dollar. Sumaisem said, “The decline in the price of gold boosted demand for the currencies of foreign, particularly the dollar, which will lead to the high price of the dollar against the dinar in local markets. “and stressed that” the increase in trading securities cash cause a decline in the popularity of demand toward the precious metal / gold /, noting that, variables of the global market and the stability of cash trading relatively contributed to trends in demand and growing, about Alasttmargir direct and specifically in the area of securities and leave the demand for gold, which led to a decline in its price. “She Sumaisem to, that China represents the biggest force in the demand for gold and thus is the force acting on the growth trends in global demand that it makes global demand is very sensitive toward China specifically and then changing demand trends by it up or down affects the forty gold demand in global markets. “and Gold fell for a second session in three sessions on Thursday due to high stocks and offering the largest fund booster gold in the world to the biggest sell-off in about four months. Gold fell nearly two percent on Tuesday to its lowest level in a week and a half of his operations selling for technical reasons and fears of slowing demand in China, the largest consumer of the metal in the world but has settled above $ 1,300 for an ounce in the previous session. By 0710 GMT, the spot price of gold 0.3 percent to 1298.56 dollars an ounce. Silver fell 0.2 percent to 19.57 dollars an ounce. Platinum rose 0.2 percent to record 1435.4 dollars, while palladium fell 0.1 percent to 797.3 dollars per ounce
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