Reasons For The Rise In Gold Prices In Iraq And The World.. An Expert Explains

Time: 2024/09/13 Read: 1,170 times   {Economic: Al Furat News} An economic expert attributed the rise in gold prices in local markets in Iraq to the increase in global demand for the yellow metal.

Salah Nouri told Al Furat News Agency: "In general, gold is considered a safe haven for investment in the event of risks in other areas (stocks, bonds, and oil contracts), and through global events, stock prices have risen in the American markets, which are global markets."

He pointed out "expectations of reducing interest rates on US government bonds, which are investment bonds by many countries, including Iraq."

Nouri pointed out that "the purchase of gold by central banks has increased as major Chinese investors move towards investing in gold as a safe haven from the slowdown in the Chinese economy."

He pointed out that "the aforementioned events led to a rise in gold prices globally," noting that "the return to decline in light of global economic and political conditions is likely to be slow and requires time depending on global economic growth and the incentive to invest in stock and bond markets."

Gold prices rose to an all-time high on Friday and were set for weekly gains on a weaker dollar, while investors focused on U.S. economic data that could provide additional insights into the Federal Reserve's interest rate decision.

Locally, the price of gold rose to an unprecedented level in Iraq, reaching 430,000 dinars per mithqal (about 5 grams) by Thursday evening.   LINK

Oil Compass Is Heading Upwards.. Brent Exceeds $72

Energy    Economy News - Follow-up  Oil prices held on to gains in early Friday trading, continuing a rally sparked by production disruptions in the U.S. Gulf of Mexico, where Hurricane Frances forced producers to evacuate platforms before hitting the Louisiana coast.

Brent crude futures rose 34 cents, or 0.5 percent, to $72.31 a barrel by 0016 GMT.

U.S. West Texas Intermediate (WTI) crude futures rose about 38 cents, or 0.6 percent, to $69.35 a barrel.

If these gains continue, both benchmarks will halt a series of weekly declines, despite a tough start to the week that saw Brent fall below $70 a barrel on Tuesday for the first time since late 2021.

At current levels, Brent is expected to record a weekly increase of about 1.7 percent, and West Texas Intermediate by more than 2 percent.

Official data showed that nearly 42 percent of oil production in the Gulf of Mexico region was shut down as of Thursday.

The supply shock helped oil prices recover from a sharp sell-off earlier in the week, with demand concerns sending both crudes to multi-year lows.

Both OPEC and the International Energy Agency this week cut their demand growth forecasts, citing economic difficulties in China, the world's largest oil importer.

China's crude oil imports fell 3.1 percent on average this year from January to August, compared with the same period last year, customs data showed on Tuesday. 
105 views 2024/09/13 - https://economy-news.net/content.php?id=47549

Baghdad To Host Tomorrow The Conference "Electronic Payment Towards Financial Stability In Iraq"

Friday 13 September 2024 | Economic Number of readings: 115   Baghdad / NINA / The activities of the "Electronic Payment towards Financial Stability in Iraq" conference will start tomorrow, Saturday, in the capital, Baghdad, under the patronage of Prime Minister Mohammed Shia Al-Sudani, and jointly organized by the Prime Minister's Office, the Association of Private Banks and the Central Bank of Iraq, at the Rashid Hotel and in the presence of Arab and international banking figures.   https://ninanews.com/Website/News/Details?key=1153581

US Vows To Respond To Attack On Diplomatic Facility In Baghdad

Political | 10:45 - 09/13/2024   Mawazine News – Baghdad  The US Embassy in Iraq announced on Friday that its diplomatic facility in the capital, Baghdad, was attacked last Tuesday, renewing its call on the Iraqi government to protect diplomats and the international coalition. The

US Embassy spokesperson said in a statement that "the Diplomatic Support Complex in Baghdad, a US diplomatic facility, was attacked on Tuesday, September 10," adding: "Fortunately, no injuries were reported."
He pointed out that the Iraqi government has repeatedly affirmed its commitment to protecting US diplomatic missions and military personnel present in Iraq at the invitation of the Iraqi government.

The US Embassy called on the Iraqi government to enhance protection for diplomatic personnel and partners from the international coalition and their facilities, stressing the right of the United States to defend itself and protect its personnel anywhere in the world.

A security source reported that a bombing targeted the US Embassy's logistics center inside Baghdad International Airport on Tuesday evening.

The source indicated that the bombing took place near the US Embassy's logistics support and the headquarters of the Counter-Terrorism Service in the vicinity of Baghdad International Airport.

https://www.mawazin.net/Details.aspx?jimare=254828

Minister Of Planning: The General Population And Housing Census Will Be Conducted Next November And There Will Be A Curfew

The Minister of Planning, Mohammed Tamim, announced that the general population and housing census will be conducted in all Iraqi governorates on November 20 and 21, and there will be a curfew.

Tamim said while chairing a meeting of the Supreme Commission for Population Census that the general population and housing census will be implemented electronically and will be the last census witnessed by Iraq, because we will be faced with a huge database covering all aspects of life and the characteristics of the population, social and economic.

He added that the results of the general population and housing census will appear within a few hours with high accuracy and reliability, as a result of the use of modern and advanced technologies in conducting the census.

He pointed out that the ministry has provided 120,000 tablets from solid international manufacturers, with high specifications, and they will be used by state institutions after the census is completed.

 He added that there are great efforts being made by ministries and entities not affiliated with a ministry, and governorates to support the conduct of the general population census.
He explained that the Council of Ministers has taken a package of important decisions in order to provide the best conditions for conducting the population census and ensuring its success.

There are no political obstacles preventing the population census from being conducted, and there is high-level coordination with the Kurdistan Regional Government regarding conducting the census on its scheduled date of 11/20/2024.  https://www.radionawa.com/all-detail.aspx?jimare=39475

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