Spot Gold | Dubai Gold Exchange To Introduce <b>Spot Gold</b> Contract In June <b>...</b> | News2Gold |
- Dubai Gold Exchange To Introduce <b>Spot Gold</b> Contract In June <b>...</b>
- <b>Gold</b> price remains around $1300 as Dubai <b>gold</b> exchange <b>...</b>
- <b>SPOT GOLD</b> VIEW DATE: 11-04-2014 | MCXControl.com
| Dubai Gold Exchange To Introduce <b>Spot Gold</b> Contract In June <b>...</b> Posted: 06 Apr 2014 09:43 PM PDT The contract is expected to be for 1 kilogramme (32 troy ounces) of 0.995 purity gold, a spokesman said. The Dubai Gold and Commodities Exchange (DGCX) plans to introduce a spot gold contract this June as part of its growth as a top trading centre for the precious metal, the exchange's chief executive Gary Anderson said on Sunday. The DGCX is in the final stages of finalising contract specifications, a spokesman quoted Anderson as saying at an industry conference. The contract is expected to be for 1 kilogramme (32 troy ounces) of 0.995 purity gold, the spokesman added. The DGCX already trades gold futures. Ahmed Bin Sulayem, executive chairman of the Dubai Multi Commodities Centre, which facilitates the trade, said on Sunday that in 2013 almost 40 per cent of the world's physical gold trade came through Dubai, while the value traded via Dubai annually rose to $75 billion from $6 billion in 2003.  | ||
| <b>Gold</b> price remains around $1300 as Dubai <b>gold</b> exchange <b>...</b> Posted: 07 Apr 2014 12:29 AM PDT Gold managed to close out the week last week at the highs and above $1300 – this morning gold remains trading around the $1300 level. Gold $ (1hr):
After a blistering start to the year, gold has pulled-back the past couple of weeks. At one point gold was up around 15% for the year. But after the 6% drop the past couple of weeks, it now means that gold is trading up around 10% for the year. Gold $ (daily):
It looks like gold has found some decent support around the 50% Fibonacci retracement line for the move so far in 2014 – around $1280. Gold $ (daily):
The 55 daily moving average is now at the $1305 level (a level which kept gold in check on Friday). The 200DMA comes in at $1297 and the 100DMA is at $1272 – so the DMA's are all converging and bunching-up, so we're set-up for an interesting week. Gold $ (daily):
A break through the 55DMA and we should get some more short covering and gold back up in the $1320/30 area, however a failure to get gold back above the 55DMA and that 100DMA at $1272 is crying out to be tested. We also got more confirmation today that the world is fed-up with letting the West 'fix' (manipulate?) the price of gold, as Dubai has just announced that it is setting up a spot contract on its gold exchange. From Gulf Business:
And why is big deal? Because 40% of the worlds physical gold traded through Dubai in 2013:
Is the West's ability to set the price of gold coming to an end? Related posts:
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-remains-around-1300-as-dubai-gold-exchange-introduces-spot-gold-contract-12604/  Posted by Thomas Paterson on Apr 7 2014. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed. | ||
| <b>SPOT GOLD</b> VIEW DATE: 11-04-2014 | MCXControl.com Posted: 10 Apr 2014 09:36 PM PDT RADHEY RADHEY! SPOT GOLD HAS SUPPORT 1316, HOLD BELOW THEN 1308-1300 POSSIBLE & HAS RESISTANCE 1328, HOLD ABOVE THEN 1336-1342 POSSIBLE – CHANDAN ((91-11-9899993052, 91-11-9818982844)) http://commoditymarket2008.blogspot.in/
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