Online Gold Trading and its benefits - Dubai Gold trading

Gold trade is one of the popular investments in the forex market a that attracts a lot of investors to trade as gold is has become considered as a platinum and one of the strongest commodities that has a strong value .
Trading online is a strong means to do business; sell and buy stocks across the globe .The online gold trading has gain a lot of recognition for its multilevel market today.

Gold rush grips Dubai after price lowered

Huge sums of buyers from different countries come down to Dubai to get their own piece in the Gold trading market which has taken up over 20% from the price of Gold.

Reports and official data from last month are yet to be released this time next year.

Jeffrey Rhodes, the global head of INTLFC Stone says "I am certain that when the customs data comes out they will show that April was one of the busiest months ever for gold imports into Dubai.”

The managing director of Kaloti Gold in Dubai says the refinery branch in Sharijah is always working 24 hours a day and throughout the week and the amount of gold refined at the branch is up to 295%.

GOLD TRADE IN DUBAI HITS $70 BILLION IN 2012

$70 billion worth of gold trading was traded in Dubai in 2012, marking the highest record in gold trading then any metal exchanged or stored in Dubai.

Dubai Multi Commodities Centre (DMCC) executive chairman Ahmed Bin Sulayem disclosed the figures at the Dubai Precious Metals Conference 2013 and said Dubai has risen as a major gold trading destination, the figure for 2012 is estimated to be at least 25% higher according to him.

“By building financial and physical infrastructure and developing the right regulation in line with international standards, DMCC has established Dubai as a major bullion centre and a global gateway for commodities trade.” DMCC executive chairman Ahmed Bin Sulayem addressed the conference.

Reports claim that the Dubai Gold and Commodities Exchange (DGCX), which is part of the DMCC, has said to reveal plans to launch the UAE’s first ever spot gold contracts, which will allow investors and traders in the country to buy and sell physical gold on a domestic exchange.

Dubai Multi Commodities Centre (DMCC) executive chairman Ahmed Bin Sulayem also revealed plans to develop the city’s local and regional banks into bullion banks, in order to address the needs of consumers in India and suppliers in Africa.

Gold shines for Dubai’s jewellery trade

Dubai’s gold trade been rising and increasing to an estimate of Dh 10 billion through wholesales and jewellery trading in April. 

After the constant buying and selling of gold , volumes of gold touch go from 2-2.5 tonnes a day against 1-1.5 tonnes a day ,volumes have settled down to normal levels in the past few days of May .

On Sunday jewellery closed at $1,470.75 . The director of international operations at Malabar Gold “Shamlal Ahmad” says gold is one commodity where a lower price is a corresponding surge in retail buying. “Conservative estimates place the overall volumes, both retail and wholesale, in April here at more than 50 tonnes — there is no shrinking in the appetite for the metal.” says Shamlal Ahmad.

Retailers raise concerns regarding the supplies that ease up and premiums for confirmed orders which have softened. Premiums touched $10 an ounce. As for the month of Akshaya Trithiya, jewelleries leave no strategy on how to attract customers to steal a purchase. Akshaya Trithiya is a month the second best volumes for the trade after the promotion phase during DSF .According to Paul Joy the executive director of Joyalukkas Group - Most of the people that purchase gold and jewellery during this month ,purchase them for auspicious reasons .

Gold bars have jumped to multi-year highs - Dubai Gold trading

Dubai Gold and Commodities Exchange ( DGCX ) hits a high record on the 16th of April with over 100,000 contracts with the highest record ever of $3.8 billion surpassing previous record of 83,862 contracts set on 12th April ,2013 .

DGCX Indian Rupee futures was also registered at its highest daily volume ever on Tuesday with 96,672contracts values at a ground breaking $3.5 billion.

The chief executive of the Dubai Gold and Commodities Exchange (DGCX) Gary Anderson said “We are delighted that DGCX has crossed the 100,000 contracts benchmark in daily trading volumes “ to Al Arabiya .

The contract has achieved a rapid growth in the past four years which have improved the liquidity and on-screen spreads. The contract traded an average of over two billion dollars a day in the first quarter of 2013.

Gold Trading – 3 Major rules while you trade gold online

Gold has been and still is one of the most valued commodities people tend to trade in the financial market for a long time and has helped traders invest in the forex market as a long term financial investment. Traders usually use some strategies to have a successful gold trading. Gold is currently one of the most popular among traders and there is a great amount of number of people trading gold online on a day to day basis. To help you through the understanding of gold trading, there are three major rules to help investors trade carefully.