Events in Iraq raises the price of gold and the dollar rise delay

Events in Iraq raises the price of gold and the dollar rise delay 


Baghdad / term 


Gold rose to its highest level in three months on Tuesday, boosted after the fall of the dollar and the worsening violence in Iraq, the appeal of the precious metal, which increased flows from the largest fund, backed with gold. Gold climbed in online transactions to 1332.10 dollars an ounce, its highest level since the twenty-fourth of March, and gold settled at 1327 dollars per ounce, and gold rose about 1 percent in the previous session.

And record the yellow metal's second-gains quarterly respectively in the quarter ended Monday, and it was June the best month for gold since February. 
increased gold's appeal on Tuesday with the arrival of the dollar to its lowest level in seven weeks against a basket of major currencies, weighed doubt in the strength of the recovery in the U.S. economy. 
also found gold in support of requests to buy it as a safe haven from political tensions. And fought Iraqi forces fighting to eject the fighters of the Islamic State of Tikrit, after the announcement of the organization's leader successor to an Islamic state new territory which it captured in the recent period in Iraq and Syria. 
due a large part of the gains of gold, which amounted to 10% since the beginning of the year to tensions in Ukraine and Iraq. 
silver rose in online transactions 0.3% to $ 21.03 an ounce. 
fell Platinum 0.1% to 1479.1 dollars an ounce, while palladium rose 0.2% to 841.7 dollars per ounce. 
On the other hand resulted in sudden rise in world oil prices because of the violence in Iraq to defend the safe-haven currencies such as the yen and the Swiss franc despite the fact that Japan and Switzerland two Mistordtan crude. 
since the escalation of violence this month and rising oil prices kept currencies on Mkasphma in defiance of the point of view that rising crude prices usually translate into significant gains for oil-exporting countries and their currencies. 
contributes to the rise of prices improvement in the trade balance for oil exporters such as Canada, Norway and pay their currencies to rise. In contrast, it hurts the importing countries for raw materials. 
Nevertheless, investors fear that the shock supplies may harm the expectations of the global recovery and currency-related trade in primary commodities less liquidity and higher risk. 
said amputation Cirbeta expert currencies have any. said. G "does not benefit those shocks usually demand the risk where more than concerns about global growth and be accompanied by a fall in stock prices. " 
jumped Brent eight percent since May to reach its highest level in nine months at 115.71 dollars a barrel in mid-June due to concerns that affect the violence in Iraq on oil production. And any interruption will cause damage where the Iraqi oil about 11 percent of OPEC production. 
So far there are no indications little likelihood of significant interruptions in oil prices have retreated somewhat from which activity in the currency market. But investors exchange market watched whether the fighting will extend to the south of Iraq. 
Iraq and ship about 90 percent of its oil exports from the south of the country, an area so far unaffected by the unrest. And will any setback for the government there to increase the demand for the most liquid currencies such as the yen and the dollar and the Swiss franc. 
rises and the demand for the three currencies in conjunction with the financial market turmoil and uncertainty about the global economy. And firmed those currencies slightly this year, despite the surge of the shares and the good performance of the currencies of high risk. 
dropped the Canadian dollar and the Norwegian krone four percent against the yen since the beginning of 2014 and recorded currencies performance below the level in spite of the rise in oil prices, which increased three percent this month. 
said Mark McCormick, an expert at the Credit Agricole The cycle of growth-linked currencies and trade of commodities such as the New Zealand dollar and the Australian, Canadian and Norwegian krone in the past, the biggest beneficiaries of the sustained increase in oil prices. 
Analysts said the rise in oil prices is not always harmful to the economies or the financial markets. If the GDP is already strong, increasing energy demand and rising stock markets and currencies linked to growth can coexist smoothly. 
said Jeremy Hill expert macroeconomic at Citi, "when oil prices caused by supply shortages, lower volumes and higher prices hurts economic activity .. In fact, each associated with a recession in the United States since the mid-seventies by high oil prices, except at once. 


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