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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    "Women are the first beneficiaries" .. The decline of the dollar moves the gold market in Sulaymaniy

    Rocky
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    "Women are the first beneficiaries" .. The decline of the dollar moves the gold market in Sulaymaniy Empty "Women are the first beneficiaries" .. The decline of the dollar moves the gold market in Sulaymaniy

    Post by Rocky Thu Feb 09, 2023 7:43 am


    "Women are the first beneficiaries" .. The decline of the dollar moves the gold market in Sulaymaniyah (photos)



    [You must be registered and logged in to see this image.]Recovery of gold markets in Sulaymaniyah Governorate

    2023-02-09 03:01
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    Shafaq News / For three days now, the US dollar continues its dramatic decline against the Iraqi dinar, in the markets of Sulaymaniyah Governorate, Kurdistan Region, until it has now reached the level of 150,000 against 100 dollars, at a time when the official price of the dollar is 130,000 dinars, after it reached about 130,000 dinars last week. 170 thousand.
    With the decline of the foreign currency, the Iraqi gold markets recorded a great demand from customers to buy the yellow metal, especially women as the biggest beneficiaries of the current situation, amid warnings against buying counterfeit.
    Gold is falling
    The price of gold sold in the Sulaymaniyah markets decreased by 30% from what it was during the past week, Azad Omar, the spokesman for the Sulaymaniyah Goldsmiths Union, told Shafaq News agency reporter, adding, "The price of a gram of 18 carat gold was 405 thousand dinars, while its price has decreased today." To 325 thousand dinars per weight.
    Safe haven and decoration
    And from the Sulaymaniyah market, which specializes in selling gold, one of the goldsmiths told Shafaq News agency, "Most of the Iraqi people prefer to own gold, especially in crises, because they do not depend on banks to deposit money because of the lack of confidence in banks."
    "Gold is for Iraqis, especially women, a safe haven and a long-term investment, in addition to being considered a kind of adornment and luxury," he added, stressing that "the movement of the gold market has become better than the past days due to the decline in the value of the dollar against the Iraqi dinar."
    Al-Sayegh states that "many people in the region buy gold for two reasons: the first is to profit by selling it after a short period, because gold prices are constantly changing, and the second is to hedge against financial crises, given the lack of confidence of some in the local currency."
    Economic reading
    Economic researcher Hawri Karzan identifies several factors that led to the increase in gold possession among Iraqis during the current period.
    Karzan explains to Shafaq News agency, "Some private banks and money laundering agencies manipulate dollars on the one hand, and smuggle them by land and air towards certain countries on the other hand, in addition to the American emphasis on foreign transfers with the possibility of imposing sanctions on a number of Iraqi banks; all of these things led to people resorting to buying gold".
    Karzan points out that "the precious metal is more important because it is in limited supply and is witnessing an increasing demand, which gives security to the investor and the buyer more than the dollar, which is witnessing a decline in Iraq."
    The dollar has not stabilized yet
    "The price of the dollar on the Sulaymaniyah Stock Exchange today reached 150,000 dinars for every 100 dollars," Jabbar Gogan, the official spokesman for the stock market in Sulaymaniyah, told Shafaq News agency.
    Gogan adds, "The process of stabilizing the dollar price needs a period of time, and I expect that after approving the budget, the situation will be much better, and this requires citizens not to rush to make decisions based on expectations or unscientific statements in this regard."




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