Economist: The global economic crisis caused by the instability of the price of gold in Iraq
On: Tue 10/18/2011 13:06
Baghdad (news) .. ills economist Mohsin Ali reasons for the volatility of gold prices in the markets of Iraq and return to the global economic crisis taking place in the world today, prompting the owners of wealth to convert their money into real gold and Jawdat.
Ali said in a statement to the Agency (news) on Tuesday: The reasons for fluctuations in gold prices and instability in the Iraqi market in particular and the global economic crisis taking place in America and Europe, making the owners of wealth transfer their money to Jawdat true of gold, opening as a safe haven for their money, and being subject to the issue of supply and demand so it is less than when displayed in the market price rises, while if it is put in large quantities in the markets, the price decline.
He pointed to that local markets are affected by crises of the global economic and indirectly through the import of materials, and the fact that Iraq today is based on diversity of import of goods from abroad, any change in the prices of these materials in the world, the Iraqi market affected in terms of increased prices or reduced.
The economist: that the owners of stocks and money in Iraq when they see interest rates less than the shares of financial Vijhon to buy gold or real estate to keep their money, leading to increased price, and continued: The indicators that make the price of gold fixed globally is the economic stability which is a balance between supply and demand, therefore it leads to reduce prices to global fluctuations.