ixic

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About ixic

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  1. 6 usd to 1 iqd Unlikely. 6 iqd to 1 usd? Likely. That would be about 16.6 cents. I'd believe that. Not this.
  2. Gold Ready For $200 Jump In 2017 – Bank Of America CNBC reported that Bank of America is forecasting a significant jump in gold prices by the end of this year. “Gold is poised to make a big jump by the end of the year, at least according to Bank of America. The corporate and banking division says it expects the price to rise by around $200. That would put the price of gold at $1400 by December… Analysts at Bank of America/Merrill Lynch state that even though the commodity has been under pressure as a run up to the next Federal Reserve bank hike, there were reasons for optimism… Inflation and other uncertainties like elections in Europe tend to prop up the yellow metal. The bottom line: Bank of America says to bank on gold.” (“Bank of America says to bank on gold,” CNBC, 3/9/17.)
  3. Gold Highly Relevant In Strategic Portfolio - WGC The World Gold Council published its Outlook 2017 which identifies six significant trends that will support gold in 2017. “In 2016, investors around the world returned in large numbers to the gold market, as a combination of macroeconomic drivers and pent up demand kept interest in gold high. As we start the new year, there are some concerns that US dollar strength may limit gold’s appeal. We believe that, on the contrary, not only will gold remain highly relevant as a strategic portfolio component, but also six major trends will support demand for gold throughout 2017… “Using the economic perspective from our guest economists as a backdrop, we believe there are six major trends in the global economy that will support gold demand and influence its performance this year: 1. Heightened political and geopolitical risks 2. Currency depreciation 3. Rising inflation expectations 4. Inflated stock market valuations 5. Long-term Asian growth 6. Opening of new markets… “Gold is especially effective as a safe have during times of systemic crisis, when investors tend to withdraw from risk assets. As they pull back, gold’s correlation to stocks becomes progressively more negative and its price tends to increase. Gold historically performs better than other high-quality liquid assets during periods of crisis and that makes it an excellent liquidity provider of last resort… “[O]ver the past century, gold has vastly outperformed all major currencies as a means of exchange … This difference between gold and fiat currencies can drive gold investment demand as investors seek to preserve capital from depreciating currencies… But gold’s relative steadfastness can also support central bank demand. To that end, central banks continue to acquire gold as a means of diversifying their foreign reserves and we expect them to continue to do so in 2017… “Gold is becoming more mainstream… We expect this trend to continue and expand into Western markets, where pension funds have had to rethink asset allocation strategies following prolonged exposure to low (and even negative) interest rates. In our view, this will result in structurally higher demand….” (Outlook 2017: Global economic trends and their impact on gold,” WGC, 1/17.)
  4. CBI Auctions still going. The buy/sell rate moved 2 dinars. Now 1184/1182. Announcement No. (3353) The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 5/1/2017 and the results were as follows: DETAILS NOTES Number of banks 33 Number of remittance companies 17 Amount sold at auction price (US$) 158,915,838 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 158,915,838 Total offers for selling (US$) ----- Exchange rates from (06/04/2015) till the last date Exchange rates from the beginning of the auction until (19/2/2015) Australian Dollar AUD 856.506 856.077 Gold of 24 carat Gold 1,362,784.000 1,360,482.000 CURRENCY CODE SELL BUY US dollar USD 1184.000 1182.000 Euro EUR 1229.584 1228.969 British pound GBP 1455.018 1454.290 Canadian dollar CAD 881.083 880.643 Swiss franc CHF 1150.073 1149.498 Swedish krona SEK 129.489 129.425 Norwegian krone NOK 136.601 136.532 Danish krone DKK 165.398 165.315 Japanese yen JPY ----- ----- Special Drawing Rights SDR 1582.534 1581.743 Indicative rates - 04.01.2017
  5. Awesome SoCal. Wish I lived closer, and it wasn't the holidays. Would love to join you on a trip. Best of luck on your next hunt.
  6. The sign on the tomatoes read 990 iqd...at today's value thats about $.83 cents. Doesn't look like anything has changed in value, yet.
  7. LaidBack quoted what I had posted yesterday on the auctions having gold prices listed. I had never noticed/seen it before on the CBI page, which is why I brought it over. Maybe the gold prices are for the gold coins they'll be introducing? Hopefully. But also could be just a general listing to let people know the actual market rate for dinar/gold ratio.
  8. Currency Auctions Announcement No. (3305) The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 26/10/2016 and the results were as follows: DETAILS NOTES Number of banks 32 Number of remittance companies 15 Auction price selling dinar / US$ 1182 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 147,280,305 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 147,280,305 Total offers for selling (US$) ----- Also noticed Gold prices on daily exchange chart. Anyone seen that before? Australian Dollar AUD 0 0 24carat gold ounce gold 1500430.800 1497892.000 CURRENCY CODE SELL BUY US dollar USD 1182.000 1180.000 Euro EUR 1285.070 1284.428 British pound GBP 1445.941 1445.218 Canadian dollar CAD ----- ----- Swiss franc CHF ----- ----- Swedish krona SEK ----- ----- Norwegian krone NOK ----- ----- Danish krone DKK ----- ----- Japanese yen JPY 11.315 11.310 Special Drawing Rights SDR 1621.940 1621.129 Indicative rates - 26.10.2016
  9. Recession Coming Within 12 Months; Investors Need Gold – Pal A former Goldman Sachs banker and founder of the macro investment advisory group Global Macro Investor told MarketWatch the U.S. will be hit by a recession in the next 12 months. As such, investors need to “park their cash” in gold. “Mirror, mirror on the wall, which asset is most mispriced of all? According to a Goldman Sachs alum who predicted the financial crisis in 2008, it’s gold. The precious metal should be a lot more expensive when the likelihood of a global financial collapse and a move toward negative interest rates is accounted for, says Global Macro Investor founder Raoul Pal, who now sees a U.S. recession within 12 months… “’As we get to negative interest rates, gold is a good place to park your cash,” said Pal, who discussed his outlook with MarketWatch in a September interview and a follow-up conversation over email. ‘I’m not a gold bug,’ the former GLG Global Macro Fund co-manager — who is also watching the dollar closely — “’but this is the currency I would choose now… All the really serious thinkers are interested in gold,’ he said… “Pal’s core presumption — one he’s held since 2014 — is bad news for the U. S: He is convinced the country is headed for recession within a year. ‘The business cycle points to that,” he said, “and 100% of all two-term elections have had a recession within 12 months since 1910.’ “His view contrasts with the Federal Reserve’s own indicator, based on corporate-bond spreads, that predicts just a 12% chance of a pullback in the next year. But Pal does have some prominent company: Savita Subramanian, Bank of America’s head of equity strategy, recently predicted the same; Janus Capital’s Bill Gross spoke of a lagging U.S. recovery in his September investment note; and bond investor Jeffrey Gundlach showed a chart during a recent webcast that revealed the start of a recession. Should his prediction come true, Pal says, gold prices could double. If central banks want to get active and combat a slowing economy, he says, they will try to stimulate the economy via printing money or more easing, all of which plays ‘into the hands of gold….’” (“A recession is coming — so hide in gold, says influential investor Raoul Pal,” MarketWatch, 10/14/16.)
  10. I'll bug you one more time and re-post my question from last week: Oil prices are relatively stable, the price of gold is staying above $1300/oz and most likely going up. Iraq has plenty of both. With all that has gone on with Iraq this year: CBI talk, banking, more oil, more gold, security, government, IMF and UN aid, etc...things are actually looking promising. I know about your 10 cent stance, and believe me...I'm a believer in 'at least' that for an rv. I was just curious if you've heard anything about a possible rate of 13-26 cents, like a few other middle east countries are currently valued at as well. Just so Iraq can be 'on par' with some of their neighbors, and take advantage of the resources they possess or have yet to tap into. Thanks.
  11. Oil prices are relatively stable, the price of gold is staying above $1300/oz and most likely due to rise. Iraq has plenty of both. With all that has gone on with Iraq this year: CBI talk, banking, more oil, more gold, security, government, IMF and UN aid, etc...things are actually looking promising. I know about your 10 cent stance, and believe me...I'm a believer in 'at least' that for an rv. I was just curious if you've heard anything about a possible rate of 13-26 cents, like a few other middle east countries are currently valued at as well. Just so Iraq can be 'on par' with some of their neighbors, and take advantage of the resources they possess or have yet to tap into.
  12. Look closely, 129.5 dinars, its abbreviated for 129,500 dinars, per 100 usd. So the rate is 1295. I did a double take, then saw the second line again. Still waiting.
  13. Hey Adam, what is your take on all these CBI articles that have come out this past weekend? It seems the CBI is getting ready for something to happen, hopefully before end of the year. The central bank gives the government banks until September to adapt itself to the electronic systems CBI approaching the issue dinar-mail and enter it in the business dealings The Central Bank Reveals The Date Of Launch Electronic Currency !
  14. Investors Need Gold To Preserve Savings – Barisheff Nick Barisheff, CEO of Toronto’s Bullion Management Group, advised investors to include gold in their portfolio to preserve their savings. “Many investors and their financial advisors consider gold to be a commodity, which makes gold no different than copper, timber, pork bellies or orange juice. They do not understand, or simply are unaware, that gold has been successfully used as money for over 3,000 years. Although some people think it is an archaic relic, the facts don’t support this view… “Gold is traded on the currency desks of all major banks and brokerages, along with dollars, euros, yen and pounds, and not the commodity desks along with other commodities – the FX traders know gold is money. “On the balance sheets of all central banks, gold is classified as a monetary asset, along with their foreign currency reserves. The central bankers know gold is money. Central banks do not hold any other commodity as part of their reserves. Alan Greenspan knows gold is money, as he laid out in his famous article “Gold and Economic Freedom”, written in 1966, before he became chairman of the Federal Reserve… “One of the most important attributes of gold is that it is negatively correlated to financial assets, such as equities and bonds, and non-correlated to commodities… When financial assets decline, gold tends to move in the opposite direction, and increases in currency terms. What this means is that gold acts as portfolio insurance to reduce volatility, improve returns, and improve both Sharpe and Sortino ratios… “For the sake of your financial well-being, take the time to understand what money is, its history and how it is created through the fractional reserve banking system. You will then understand that this 44-year-old experiment with the US dollar as the first global reserve fiat currency will assuredly end in disaster for those who hold their wealth in paper, just like all the other times when this was tried by individual countries. “You will come to the same conclusion that I and numerous other experts have come to: You need to hold a substantial part of your portfolio in precious metals in order to preserve your savings. “It is critical to take the time to understand that gold and silver are the most reliable forms of money for preserving wealth. When it becomes obvious to everyone that the system is failing, it will be too late. Unlike paper currencies, you can’t simply print more gold. If even a small percentage of the $250 trillion in global financial assets tries to move into less than $2 trillion of privately held gold, the only variable will be the price, and even then the question will be availability. That is how we will get $10,000 per ounce gold and $250 per ounce silver.” (“Gold and Pork Bellies,” BMG, 7/26/16.)
  15. $1400 Gold Just Start of Bull Market – VanEck Investment firm VanEck issued a report stating that $1400 gold will be just the start of a new bull market. “Although gold prices are down from last week’s two-year high, one investment firm sees $1,400 an ounce as just the start as the market remains in a new bull uptrend. In a report released Tuesday, Joe Foster, gold strategist at VanEck, said that the firm is expecting gold prices to reach $1,400 an ounce in the second half of the year, adding ‘and we do not believe it will end there…’ “What is the driving the next leg of the renewed secular bull market is the fact that investors are being more proactive, he said… ‘Many are seeing the looming potential for another financial crisis and making a strategic allocation to bullion as a hedge against systemic risk,’ he said. Foster sees several factors in the global economy that will continue to support gold prices in the long term, including continued loosed monetary policy and low bond yields. Quoting the latest report from ratings agency Fitch, he noted that $11 trillion in sovereign debt is offering negative yields… Foster also said that weak global growth and volatile currency markets will make gold an attractive investment… Turning to the U.S., Foster said that the 2016 presidential election also promises to be positive for the yellow metal, no matter what side wins the race….” (“Gold Price Of $1,400 Is Just The Start – VanEck,” Kitco News, 7/12/16.)