How did Christmas time affect the gold price in Kuwait?
The questionable situation in Kuwait has led experts to state that gold was about to end the year stable close to the level of $ 1,200. And as it was stated, at the end of the year, the economic reports showed that the gold price in Kuwait was at the level of $ 1,195 per ounce.
The busy Christmas time has played the main role, as most investors preferred not to participate in the market and just watch its movements. This caused a decline in the trading volume, nevertheless gold price was risen.
The fluctuations of the Kuwait gold market prices remain significant worldwide given the 39th post of the country in the gold reserves ranking of the whole globe, which among all the Gulf states, means the highest proportion of gold reserves. The changes in oil prices increase according to the proportion of gold in the reserves, due to the importance of black gold in the country.
The particular attention of experts to the value of gold price in Kuwait is its possible radical change. In 1978, the price of gold was stabilized and since then it has risen to $ 1,204.50 per ounce gold last year. If the same stabilization as in 1978 would be carried out by the government of Kuwait, the declared value of gold would increase from 31.7 to 181 million right away.
Consequently, the value of the Kuwait's currency, the dinar, would increase, as the value of every currency is based not only on the country's economy, its supply and demand, but also on its reserves of gold.
The increasing demand for gold influences the global economy, providing long-term investment security to its investors. The clients of Emgoldex have been enjoying the advantages of this precious metal and creating a gold reserve to guarantee themselves their financial independence for the future. The company's online store offers the most profitable purchasing conditions for the clients of Kuwait in which the product of the Emgoldex online store is expanding rapidly, as well as in other countries of the world!
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Category: Gold news Publication date: 2015-01-12 08:43
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