Attorney Winner: continued demand for gold in Basra will lead to a rise in price across the country
On: Friday 03/02/2012 10:11
Basra (news) .. Member of the Committee expected the economy and investment MP / National Alliance / Amer winning the increase of the price of gold in the whole of Iraq in the event of continuing increased demand for purchase of Basra.
The winner, who is in Basra reporter Agency (news): The price of gold is subject to the issue of supply and demand When increased demand will lead to a rise in its price, indicating that the gold traders in Basra when they see that there is an increasing demand for gold, and market optical-free display, will turn to other provinces to buy gold and sell it in Basra, which will lead to a price increase gradually throughout the country.
He ruled out the winner and there are such cases in the current markets, the time of Basra, saying if their presence would increase the price of gold due to increased domestic demand.
There is little news indicated the existence of traders Iranians in Iraq and continuously accept the Basra market to buy gold in large quantities, considering gold as a safe haven to avoid serious deterioration of their currency against hard currencies as a result of international sanctions imposed on Iran.
The witness Altoman Iranian declined significantly against the dollar the U.S. where it reached (320) Toman Iran against the U.S. $ one, while in front of the Iraqi dinar has fallen at a rate (50%), where he was Altoman Iranian equals (1000) Iraqi dinars, while now it is equivalent to (500) Iraqi Dinars. / End / 20. n. r /
***EXCERPT from Wikipedia: Although the "toman" is no longer an official unit of Iranian currency, Iranians commonly express amounts of money and prices of goods in "tomans." For this purpose, one "toman" equals 10 rials. http://en.wikipedia.org/wiki/Iranian_rial
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