Syri

Gold smuggling likely to rise in India as festive buyers try to avoid new tax

Mumbai - Muslimchronicle

Gold smuggling in India, the world’s second-biggest consumer of the metal, is likely to rise during the country’s peak holiday season as buyers try to avoid paying a new sales tax and to dodge new transparency rules. In August, India moved to include gold sales under the Prevention of Money Laundering Act (PMLA). The law makes it mandatory for jewelersRead more

Equities down, gold up on N. Korea, Harvey fears

LONDON - Musimchronicle

Asian and European stocks slumped with havens, including gold, on the rise after N. Korea launched a ballistic missile over Japan. Gasoline edged down even as energy companies braced for another hit from Tropical Storm Harvey. From London to Sydney equities retreated and volatility escalated amid classic risk-off moves, with U.S. stock futures also tumbling, according to a Bloomberg report.Read more

Hassabo informed on progress of work at mining field

Khartoum - SUNA

Vice-President of the Republic, Hassabo Mohamed Abdul-Rahman has hot acquainted with progress of work at m8ining field and social responsibility of companies. Minister of Minerals, Dr Ahmed Mohamed Al-Karuri said in press statements following his meeting with the Vice-President of the Republic in the Republican Palace, Monday, affirmed commitment of companies operating in mining field to their social responsibilities towardsRead more

Gold Rises for Fourth Week in a Row

New York - QNA

Gold prices rose for the fourth week in a row after US jobs data dampened expectations that the US Federal Reserve will raise interest rates, but the metal gave up most gains as the dollar rose and safe haven demand ebbed. For the week, spot gold XAU= rose 0.5% to close at $1,257.30 an ounce, touching its highest since NovemberRead more

Gold Prices Stable in Tuesday

New York - QNA

Gold prices held steady on Tuesday as investors looked to see if US President Donald Trump would be able to enact promised tax cuts and infrastructure spending, with the dollar drifting from multi-month lows in the previous session. Spot gold was mostly unchanged at $1,253.83 per ounce at 0238 GMT, after touching its highest in a month at $1,261.03 theRead more

Gold Prices Stable in Tuesday

New York - QNA

Gold prices expected to reach $1,500 as inflation poised for comeback

Singapore - Arab Today

Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum, which says that the precious metal may be in the early stages of a bull market. Prices may climb to $1,400 to $1,500 an ounce this year, said Ronald-Peter Stoeferle, managing partner atRead more

Gold Prices Rise on Wednesday

Washington - QNA

Gold prices rose to a three-week high on Wednesday as risk-averse investors dumped equities amid a weaker dollar and sought safe havens. Spot gold had risen 0.3% to $1,247.56 per ounce, after touching a three-week peak of $1,248.47. US gold futures were firm at $1,246.30. The dollar index, which measures the greenback against a basket of currencies, was at 99.761,Read more

Gold hits lowest since January

London - Arab Today

Gold fell to its lowest in more than five weeks on Friday. Growing expectations that the US Federal Reserve will raise interest rates this month following a better than expected ADP payrolls report on Wednesday have pushed gold down 3 percent this week, potentially its biggest weekly loss in four months. The metal hit a low of $1,194.55 an ounceRead more

Sudamin cooperates with Sudanese Ministry of Finance

Khartoum - Mohamed Ibrahiim

The Sudamin company, which follows the Sudanese Ministry of Minerals, delivered, on Wednesday, the third installment of its production, amounting to "120" kilograms of gold to the Ministry of Finance. The Sudanese Minister of Minerals, Ahmed Mohamed Alkaruri, stressed the number of the large producing company rose to reach 34 company. Alkaruri added, during his speech, during the celebration ofRead more