Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The War On Gold Has Begun


Pitcher
 Share

Recommended Posts

Currency, gold and oil prices for Wednesday

846709-d5476a0a-0b36-469b-9719-50d3b9e1d
Baghdad / Nina / The Iraqi Economic Center announced the prices of foreign currencies, gold and oil worldwide for Wednesday.

And the price of selling the dollar in Baghdad and the provinces: 124,000 thousand dinars against one hundred dollars, and the purchase price of the dollar: 123,000 per hundred dollars.

And the euro The world price: 100 euros = 117.43 dollars

sterling The global price: 100 pounds = 129.30

Turkish lira The global price: 100 dollars = 694,80 Turkish lira The

price of an ounce of gold globally = 1957.19 dollars

price of a barrel of Brent crude oil = $ 43.44

price of a barrel of US crude oil = $ 41.20 / ended 8
  • Upvote 1
Link to comment
Share on other sites


Gold prices in The Iraqi Markets

1596097612963.jpg


Economy

 2020-07-30 03:27
  
The price of foreign and Iraqi gold will be published on the local market on Thursday (July 30, 2019).

The price of 21-carat gcc, Turkish and European gold weights was 335,000 dinars, while the purchase price was 330,000 dinars.

The price of a single 21-carat Iraqi gold sold was 315,000 dinars, while the purchase price was 310,000 dinars.

One penalty is five grams.

 

https://shafaaq.com/ar/اقتصـاد/اسعار-الذهب-في-الاسواق-العراقية

  • Upvote 1
Link to comment
Share on other sites

Well I was wrong.. NICE!!!!!

 

Gold price nearing $2,100 as bulls keep foot on the gas

Jim Wyckoff
 
Jim Wyckoff  Thursday August 06, 2020 08:35
 

Kitco News

Share this article:

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Gold prices are again sharply higher and hit a record high of $2,064.90, basis October Comex futures, in early U.S. trading Thursday. Silver prices are also sharply higher and hit a more-than-seven-year high of $28.54, basis September Comex futures. October gold futures were last up $25.00 an ounce at $2,062.10. September Comex silver prices were last up $1.45 at $28.34 an ounce.

Importantly, while there are no early chart clues to suggest the gold and silver markets are close to major tops, both are now getting short-term overbought, technically, and are due for downside corrections in the uptrends. And remember that with the higher volatility and bigger daily price gains seen at present, there will also be bigger downside corrections when they come.

Global stock markets were mixed in overnight trading. The U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. U.S. equities traders remain upbeat due in part to notions the U.S. Congress will soon come through with a new stimulus package for Americans dealing with the economic hardship of the Covid-19 pandemic.

13318154127849392420?

Here’s what’s coming next to America

“Most Americans will be blindsided by what’s about to happen,” says Dr. Ron Paul, the former U.S. Presidential candidate and Congressional veteran.

 

Traders today closely examined the weekly U.S. jobless claims report, which came in at 1.1 million new claims, which is less than the 1.4 million expected. Today’s report is considered somewhat upbeat, amid notions the U.S. economic recovery is slowing down.

The Bank of England left is monetary policy unchanged at is regular meeting today, with the BOE saying negative interest rates may not be the right tool for spurring economic growth in the U.K. economy.

The U.S.-China political tensions remain near a boil, as U.S. Secretary of State Pompeo has urged Americans not to use technology products owned by China, including Alibaba, Huawei, Tencent and Baidu.

The key U.S. data point of the week will be Friday’s jobs report for July from the Labor Department. The non-farm payrolls number is forecast to be up by around 1.25 million after rising by 4.8 million in June. However, don’t be surprised to see a miss from the forecasts, to likely move the markets.

The important outside markets today see Nymex crude oil prices weaker and trading around $42.00 a barrel. The U.S. dollar index is slightly lower today and hit a two-year low overnight. The yield on the benchmark 10-year U.S. Treasury note is presently around 0.526% and near a record low.

U.S. economic data due for release Thursday includes the weekly jobless claims report, the Challenger job-cuts report and monthly retail chain store sales.

Live 24 hours gold chart [Kitco Inc.]

Technically, the gold bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at $2,200.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,000.00. First resistance is seen at the overnight high of $2,064.90 and then at $2,100.00. First support is seen at the overnight low of $2,037.20 and then at Wednesday’s low of $2,015.50. Wyckoff's Market Rating: 10.0

Live 24 hours silver chart [ Kitco Inc. ]

September silver futures bulls have the strong overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $30.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $25.00. First resistance is seen at the overnight high of $28.54 and then at $29.00. Next support is seen at $28.00 and then at $27.00. Wyckoff's Market Rating: 10.0.

https://www.kitco.com/news/2020-08-06/Gold-price-nearing-2-100-as-bulls-keep-foot-on-the-gas.html

 

  • Thanks 2
  • Upvote 2
Link to comment
Share on other sites

  • 1 month later...

LINK

Baghdad ruling deals blow to Kurdistan Region’s gold trade


Photo: Rudaw

 

20th September, 2020


The Iraqi Civil Aviation Authority's decision to ban the import and export of gold to and from the Kurdistan Region last month has triggered anger among  goldsmiths and government officials.

According to a copy of the decision seen by Rudaw English, the import and export of gold is now only authorized at Baghdad and Najaf airports.  No details were given as to what prompted the decision, in effect since August 31.

Tahir Abdulla, head of Sulaimani airport described the decision as "politically motivated", adding that it is "immensely damaging” the Kurdistan Region’s economy. "The KRG must engage in talks with the relevant authorities in the Iraqi government because this is a big deal and a serious matter concerning the economic infrastructure of the Kurdistan Region," Abdulla told Rudaw on Sunday.  "The decree details that gold cannot be imported and exported via Erbil, Sulaimani and Basra airports," Handren Warti, spokesperson for the Kurdistan Region’s Goldsmiths Syndicate told Rudaw on Sunday. "This ban has created the worst economic downturn."

Gold trader Hazhar Qadir says his company has lost two million dollars in damages due to the decision. "We have lost more than two million dollars in damages. This is the second time that the federal government has done  this to us," Qadir said referring to a previous ruling which banned the import of gold via Erbil and Sulaimani airports in mid-October 2017, as part of a series of punitive measures in response to the Kurdistan Region's independence referendum. The decree was annulled eight months later. "We cannot stand by idly and do nothing. We will lodge a lawsuit against the Iraqi government at the Iraqi Federal Court," Qadir vowed.

Warti says the decision has harmed goldsmiths and the government alike. "The ban has incurred major damages to the revenues that would end up in the government's treasury from taxing the imported and exported gold," Warti added. 

As of Sunday, one mithqal (a measurement in the Islamic world equal to 4.25 grams) sells for 337,000 dinars ($282). Before the ban, 15 to 20 tons of gold used to be exported to Turkey and Dubai in the UAE from Erbil airport alone on a monthly basis with the KRG levying $80 in taxes on one kilo of exported gold and $250 per kilo of imported gold. 

Since the ban has taken place, Kurdistan Region traders have been unwilling to bring in gold from Najaf and Baghdad, citing security reasons. "The gold market has completely been disrupted in the Kurdistan Region. We do not want to export gold via Baghdad or Najaf, because there is no security," Basir Mazraai, a gold businessman in Erbil. "It was very safe for us to export our gold to UAE and Turkey from the Kurdistan Region before the ban was imposed," he added. 

  • Upvote 2
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.