Trading gold «Gold er E» over $ 500 million in 2011

Gold price technical analysis 7 - June 2013

A company «Gold er E» (GOLD AE) licensed by the «Centre Authority, Dubai Multi Commodities» to achieve positive results at the level of the total volume of trading in gold, which exceeded $ 500 million in 2011, and through its branches in Dubai, Turkey, Kuwaitand Switzerland, mainly.

The company explained that Dubai in particular have had significant contributions in enhancing the volume of trading in gold in the light of the continuing rise in domestic demand which is reflected in the growth of domestic revenue amounting to more than 3 tons of gold per year, which underlines the leading position enjoyed by the emirate as a”City of Gold.”

Underscoring the high rates of consumption of locally gold, official statistics showed on «Centre Authority, Dubai Multi Commodities» that the total volume of gold in Dubai reached 580 tons in the first quarter of the year 2011, the price of U.S. $ 1.455. The statistics indicated that the volume of exports of gold fell from 225 to 214 tons, reflecting the significant increase in consumption in the domestic market.

Positive outlook

According to the expectations of «Gold er E» that the volume will continue to rise with the increasing importance of gold as the best investment. The UAE is one of the most traditional centers of the gold trade, as indicated specialized study conducted by the Ministry of Foreign Trade, the State was on the list of the top five destinations leading to the gold trade in the world during the years 2005 and 2009, it ranked second in the import of gold in 2009, with imports worth U.S. $ 14.5 billion in the same year, equivalent to 16.6% of the total gold imports in the world.

In the same period, the UAE ranked third in the world at the level of exports of gold with the acquisition of 10% of world exports $ 10.5 billion U.S. dollars.

The only safe haven

For his part, said Mohamed Abu Al Haj, Vice President and Chief Executive Officer, “Abu Al Haj Holding Co., Ltd.” and Chairman of the “Gold er E”: “I think that gold would be a safe haven only for investment in 2012, and should prevent everyone accounted for 20% of their portfolios investment into physical gold. In this regard, the “Gold er. E. “gateway for investors by providing a wide range of alternative solutions to investment gold. Moreover, I think that the value of gold will reach more than $ 2,500 an ounce by the end of 2012.

No one can deny that inflation and perhaps hyperinflation will enhance the price of gold in 2012, and the only thing that protects the individual’s net worth of such inflation is gold. The printing of money is easy, but we can not print gold, which is why gold keeps its value forever. Moreover, I expect Dubai to be a major center of gold in the world, because it has the best logistics in the world and achieve satisfaction investors with regard to supply and demand. ”

Trading platform for bullion

Provides «Gold er E», a platform for trading gold bullion and silver across a wide range of sizes and weights on the clock, seven days a week. Has a “Gold er any” electronically store offers collections of gold and silver, as well as products of “Gold er E” distinctive coins specially designed and exclusive service includes the implementation of the graphics using a laser or carved by hand. The company also provides service delivery gold alloys and products anywhere in the world.

The “Gold er E” subsidiary of “Abu Al Haj Holding”, which has since the seventies of the last century, business interests in several areas, notably investment banking, commodities and real estate industry, and agriculture. And enjoy the “Gold er E” extensive network of offices in the United Arab Emirates, Turkey, Saudi Arabia, Kuwait, Egypt, Jordan and Switzerland. It is through the office of “Gold er E Switzerland AG”, the company offers asset management services and the Governor of alternative financial investments.