Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Gold Prices Witness 'Upward Trend,' Says Kuwait Expert  Join our daily free Newsletter

MENAFN - Arab Times - 10/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab Times) A marketing expert specializing in precious metals said on Sunday that gold prices in the medium and long terms have witnessed an upward trend, noting that the current fluctuating prices represent bottom prices compared to the prices of the first and second quarter of the new year. Sabaek Al-Kuwait Executive Director Rajab Hamid told Kuwait News Agency (KUNA) gold has witnessed staggered prices at the end of last week with the release of the data of the US labor market, falling to the lowest level to 1,210 per ounce.

Hamid added that these prices came as a natural reaction to the positive data, saying that this has reflected on the unemployment which slipped to seven percent, the lowest level in years, as well as job creation which also jumped to reach 203,000 jobs. He pointed out that expectations were flowing at 180,000 jobs and close to last month's data, but the return of gold prices to rise with the end of the trading shocked the market, pushing the gold to jump to 1,244 per ounce by impact of purchasing power. On the expectations of the next period for gold and other precious metals, Hamid said that expectation may be difficult to analysts due to the conflicting views on when the policy of quantitative easing relied upon by the ounce of gold in the previous years would be reduced or eliminated.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help