Yellow metal is heading toward $ 1,500 in five years
Dubai: A recent economic report confirmed that the record levels of prices of yellow metal is still moving toward further gains as it aims ounce gold price of $ 1500 during the next five years an annual increase of 7.4%.
The report issued by the Bank, "Saxo" prepared by David Karsbual, chief economist at the bank put up the price of gold to rise by 80% from its current level to touch its peak reached in 1980 and with the price adjustment to account for inflation.
The report said the yellow metal is seen as a safe haven for investments as well as the direction of speculators to invest in gold to hedge many of the beginning of the collapse of the U.S. dollar and even the financial system and the global economy or the terrorist attacks of that.
He pointed out that the rise in gold demand during the current period resulted in the growth of popular demand for gold resulted in growth funds, gold traded on the Stock Exchange, which has become the fifth largest holder of gold in the world.
The report, which stated in the newspaper, "the statement" that the UAE central bank has a total of 20% of the gold on Earth, which has a much larger share of this when looking at the gold from the perspective of financial purposes (ie, jewelry and other exception).
The total price of the yellow metal rises to the futures contracts since the beginning of the world present to about 19%, where it is heading to the metal price gains to continue for the ninth consecutive year.
There are of course several factors behind the recent surge of the yellow metal notably sharp declines in the U.S. dollar, which coincides with signs of recovery, which started to gain by many of the industrial economies and emerging which has helped to strengthen the position of the metal as an alternative is good for investment and refuge to counter inflation risks.
According to Bloomberg News that the price of the dollar against a basket of 6 major currencies currently approaching its lowest level in nearly 14 months. It is also noted that the current rises in global equity markets and increased demand in general to high-yield investment vehicles may be considered high risk as a supporting factor for the price of the yellow metal.
However, the price of gold exceeded the 1070 level of $ per ounce during the last week may be considered as influential as many investors see the future and that the metal in and on the stage of an imminent price correction.
In spite of expectations that are likely to offer the yellow metal under pressure decline after the record levels recently, but the metal still enjoys factors support to ensure the continuing upward trend in the long term, where A report of the Bank of Standard & Chartered Bank that the average price of gold will be in next year about the level of 1140 dollars, up about 8 percent from the previous estimates.
Linked to international prices for gold are usually a number of factors the most important supply and demand and the conditions and circumstances of the economies of developed nations, including interest rates and inflation rates and the strength of major currencies especially the dollar exchange rate.
The weakness of the dollar against other currencies is a reflection of the decline in the U.S. economy because of the global financial crisis and the U.S. politicians want is usually in the dollar is weak because it tempts investors in other countries to buy U.S. goods, which raises the exports of the proportion of the U.S. abroad and reduces imports.
The reasons behind this rise in gold to the state of anxiety felt by investors in the world due to the difficult months that have passed since their last year almost since the start of the global economic crisis, which makes them more popular for the precious metal as a safe haven.
Dubai: A recent economic report confirmed that the record levels of prices of yellow metal is still moving toward further gains as it aims ounce gold price of $ 1500 during the next five years an annual increase of 7.4%.
The report issued by the Bank, "Saxo" prepared by David Karsbual, chief economist at the bank put up the price of gold to rise by 80% from its current level to touch its peak reached in 1980 and with the price adjustment to account for inflation.
The report said the yellow metal is seen as a safe haven for investments as well as the direction of speculators to invest in gold to hedge many of the beginning of the collapse of the U.S. dollar and even the financial system and the global economy or the terrorist attacks of that.
He pointed out that the rise in gold demand during the current period resulted in the growth of popular demand for gold resulted in growth funds, gold traded on the Stock Exchange, which has become the fifth largest holder of gold in the world.
The report, which stated in the newspaper, "the statement" that the UAE central bank has a total of 20% of the gold on Earth, which has a much larger share of this when looking at the gold from the perspective of financial purposes (ie, jewelry and other exception).
The total price of the yellow metal rises to the futures contracts since the beginning of the world present to about 19%, where it is heading to the metal price gains to continue for the ninth consecutive year.
There are of course several factors behind the recent surge of the yellow metal notably sharp declines in the U.S. dollar, which coincides with signs of recovery, which started to gain by many of the industrial economies and emerging which has helped to strengthen the position of the metal as an alternative is good for investment and refuge to counter inflation risks.
According to Bloomberg News that the price of the dollar against a basket of 6 major currencies currently approaching its lowest level in nearly 14 months. It is also noted that the current rises in global equity markets and increased demand in general to high-yield investment vehicles may be considered high risk as a supporting factor for the price of the yellow metal.
However, the price of gold exceeded the 1070 level of $ per ounce during the last week may be considered as influential as many investors see the future and that the metal in and on the stage of an imminent price correction.
In spite of expectations that are likely to offer the yellow metal under pressure decline after the record levels recently, but the metal still enjoys factors support to ensure the continuing upward trend in the long term, where A report of the Bank of Standard & Chartered Bank that the average price of gold will be in next year about the level of 1140 dollars, up about 8 percent from the previous estimates.
Linked to international prices for gold are usually a number of factors the most important supply and demand and the conditions and circumstances of the economies of developed nations, including interest rates and inflation rates and the strength of major currencies especially the dollar exchange rate.
The weakness of the dollar against other currencies is a reflection of the decline in the U.S. economy because of the global financial crisis and the U.S. politicians want is usually in the dollar is weak because it tempts investors in other countries to buy U.S. goods, which raises the exports of the proportion of the U.S. abroad and reduces imports.
The reasons behind this rise in gold to the state of anxiety felt by investors in the world due to the difficult months that have passed since their last year almost since the start of the global economic crisis, which makes them more popular for the precious metal as a safe haven.
