Dubai Gold Souk sales hit 5 year low And More Sales For Today Dubai Gold


It was not very difficult to bet on the price of gold in recent times with prices declining steadily over the past few years. But the decline on Monday, the metal plunged Ookther even than analysts predicted.

The gold fell in Asian trading for the sixth consecutive day, losing 4.2% after arriving to the lowest level in more than five years. Speculators attribute this decline to fears that the Fed will look at the housing numbers are strong and inflation will go ahead and raise interest rates during the next few months.
Gold reserves in China

The subject of China’s gold reserves have added to the decline in gold prices due to surprise the speculative traders to start trading in Shanghai Gold Exchange in China.

I’ve been selling about 5 tons of gold on the stock exchange within two minutes from 9:29 until 09:30. The Victor Thianberrya, strategic commodities in the ANZ said, told reporters: “It was something unexpected and there is someone who is taking advantage of low liquidity environment.”

The price of gold has dropped to the level of $ 1,086.18 an ounce, the lowest price since March 2010, and traded at a price of $ 1,099.09 9:42 pm in Singapore. The price of gold has dropped by 6.4% on an annual basis to date.

Experts predict a further decline in gold prices, especially if the rate hike.

The Hui told me, investment analyst at Phillip Futures: “” Wherever you look, you will not find any real support for the precious metal. “We expect me to target the gold level of $ 1,100 since the beginning of the year.

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