the central bank will control the gold market and break the monopoly of traders

by day dreamer Sat 01 Feb 2014, 9:15 pm

day dreamer: Interacting Investor; Posts : 3197
Join date : 2012-12-19

Post n°1

the central bank will control the gold market and break the monopoly of traders

by day dreamer Sat 01 Feb 2014, 9:15 pm

02.02.2014 (0:01 pm) -

[ltr]Specialize: the central bank will control the gold market and break the monopoly of traders [/ltr]

BAGHDAD / Acer Jabbar

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Counting economists and specialists, that the central bank's move to sell gold coins to investors and segments of society is the step "a good leader", stressing that it will work to control the gold market and help support the Iraqi economy, and as pointed out that the increase in demand for buying gold, "indicating a recovery situation of living of the citizens, "stressed that the Iraqi market imports about" 5 tons of gold per month which is the largest amount in the history of Iraq. "
The deputy governor of the Central Bank of the previous appearance of Mohammed Saleh in an interview for (long-Presse), "The central bank's move to sell gold coins to investors and the rest of the segments of Iraqi society, good leader," explaining that "the move would work to control the gold market according to activate banks for mortgages, including gold and money helps to support various sectors of the Iraqi economy, "noting that" the banks accept mortgages mortgages Almkhclat gold for the money you borrow citizen to walk affairs of buying houses or cars or other. "
Saleh added that "the increase in demand for buying gold in Iraq is a good indicator on the recovery of the living conditions of the citizens who have begun Bedjarh for fear of aftershocks possible in the price of the Iraqi dinar, or the U.S. dollar," noting that "the import of central bank gold will enhance the confidence of citizens in gold, which imports them having being guaranteed and the origins of the world and the best that items imported traders at the moment, and therefore this procedure will enhance the chances of increasing credit including reflect positively on improving the situation of citizens living and the national economy in general. "
Saleh indicated that "the former regime was in control of the gold trade in Iraq passed through strict instructions imposed on traders to get what they need through the purchase of the Iraqi Central Bank, who was forced to practice trade does not fall within its competence."
On his part, said Mohammed al-Waeli remnants, a gold trader in the market for a river in central Baghdad, said in an interview to the (long-Presse), "The imported quantities of gold over the past years is almost the largest in the history of Iraq," explaining that he "has never been absorbed markets Baghdad and the provinces amounts exceed 50 tons per year. "
He Wa'ili that "the central bank a clear imprint on the gold market, where he had previously inspection teams and control periodically on all workshops and stores of gold scattered across the country," adding, "but after 2003 there was a discrepancy in the price and quality of the gold pure importer and available in the market." .
He Wa'ili that "the rates of import is now available in the Iraqi market for gold up to about 5 tons a month," noting that "import sources vary according to the quantity and quality desired by merchants, some of them imported from the United Arab Emirates, Kuwait, India, Italy, Iran or Turkey." .
The Iraqi Central Bank has decided, in (January 23, 2014), "SEC assortment of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that "this action represents one of the tools of monetary policy to the Bank."

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