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Tag: Gold Prices

Fluctuation in Gold Prices and 20 Billion Iraqi Dinars allocated for Nineveh Province

Fluctuation in Gold Prices and 20 Billion Iraqi Dinars allocated for Nineveh Province

On Wednesday, gold prices rose because investors were tentative in expectation of a trade agreement between China and the United States. The demand for precious metals often considered a safe haven supported by concerns regarding the growth of the global economy. The spot gold increased by 0.1% to 1,485.25 USD per ounce. Gold has shown its major one-day percentage drop on Tuesday, since the end of September at 1.7%. The U.S gold futures increased by 0.2% to 1486.90 USD. It…

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Iraq maintains its 5th position in Arab countries with largest gold reserves

Iraq maintains its 5th position in Arab countries with largest gold reserves

The World Gold Council has announced that Iraq maintained its global position with the largest gold reserves. It represents 7% of the rest of its currencies. The Council said in a statistical published on its website. It says, “Iraq has maintained its fifth position in the Arab world, which came after each of Saudi Arabia, Lebanon, Algeria, and Libya. It indicates the last purchase of Iraq gold was in September from 2018 and by 6.5 tons”. The council also said…

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Gold Prices Fell after marking its Highest Level in Past 6 Years

Gold Prices Fell after marking its Highest Level in Past 6 Years

Gold prices have shown their highest level in at least past 6-years on Tuesday. Most investors backed off from more sensitive assets because of concerns surrounding Hong Kong protests and the collapse of the Argentine currency following fears of a Global Economic Slowdown. The spot gold rose 0.3% to 1515.56 U.S dollars/ ounce at 0518 GMT, after hitting its highest level since April 2013 at 1518.03 U.S dollars. The U.S gold futures rose 0.6% to 1,526.90 U.S dollars/ ounce. Hong…

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Gold Prices increase and announcement from Iraqi Trade Bank

Gold Prices increase and announcement from Iraqi Trade Bank

The gold prices have shown an increase on Wednesday due to increasing tensions in the Middle East. It prompts investors to buy a safe and precious metal. But, the gains were limited because of an increase in the U.S dollar’s price and potential progress in China-U.S trade negotiations. The gold rose 0.3% to 1,420.70 U.S dollars per ounce after hitting its lowest level since July 17, 2019, at 1,413.80 U.S dollars per ounce in the previous session. The price of…

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Decline in Gold prices due to slow demand following decisions of Federal Reserve

Decline in Gold prices due to slow demand following decisions of Federal Reserve

On Wednesday, gold price fell in the European market with a continuous 3rd loss in the last 4 days. The investment demand showed a significant amount of decrease for gold. The recent move was following the decisions of Federal Reserve at the end of its monitory policy meeting. The agency is expected to include clear evidence of U.S interest rate cuts during current year. It is noteworthy that gold prices declined by 0.3% to trade at $1,342.45/ ounce from the…

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Iraqi Central Bank has expanded its database of exchange rate and gold prices

Iraqi Central Bank has expanded its database of exchange rate and gold prices

The Iraqi Central Bank issued a statement on its website to explain that CBI has worked to expand the exchange rates and gold prices database. The statement said this rule contains the daily and monthly exchange rates of Iraqi dinar against other currencies. The CBI is also responsible to maintain the U.S dollars exchange rate and gold prices. The statement indicated the availability of reference to these measures by all beneficiaries without the need to request through paper correspondence. It…

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Decline in Gold Prices Due to Decreasing Demand in Gold Markets

Decline in Gold Prices Due to Decreasing Demand in Gold Markets

On Monday, a famous economist predicted that the lower price of gold in Iraqi markets is referred to the downfall in the global gold prices and decreasing demand in the Iraqi gold markets. He further said that the global decline in the gold prices much affected the Iraqi gold markets. The variation in gold prices caused the downfall in global gold price and now it is at its lowest level in last five years. He also added that the Iraqi…

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Gold Dips Further Down

Gold Dips Further Down

On Wednesday, the price of gold showed continuous fall in the Asian markets and it was approached at its lowest level since last four months. The gold considered as a safe way of investment and attracted a large number of investors from all around the world to participate in gold investment. Greece crisis of debt are declining the Chinese equity markets. The price of gold dropped in the spot transactions at 0.2 percent with 1153.68 U.S dollars per ounce. It…

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