Iraq has a large reserve of gold is not affected by the volatility of world prices

Friday, February 24, 2012

Qusay Friday: Iraq has a large reserve of gold is not affected by the volatility of world prices

Baghdad, A member of the Economic Committee MP for the coalition in Iraq Qusay Gomaa said Iraq will not be affected by fluctuations in the price of gold in international markets because it has large reserves of gold and jewelry.

He said Friday (the Agency news): that winning the gold price rise in global markets is the result of the economic crisis taking place in some of the world, which also led to increased food prices and commodities in general being affected with each other.

He ruled affected by the local markets to increase taking place at prices world gold the result of what is owned by Iraq's large reserves of gold, both at the level of traders or amateur gold from the citizens, they are buying large quantities of it and when it brings its price a little bit they throw it to the local markets, which generate the balance in the Multi Display and demand.

He had expected a member of the Committee of Economy and Investment parliamentary and MP / coalition in Iraq / Nora Salem rising price of gold during the current year result of the global economic crisis. >

Said Salem in an earlier statement (the news): The current year will increase significantly in the price of gold globally as a result the economic crisis hit America and Europe, which led to instability in the prices of materials and goods in world markets, saying: that the price of gold will be directed upward from now.

The global markets during the current period is witnessing a rise dearly priced gold, making citizens fear the high price in local markets.

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