Economic parliamentary: Gold prices will fall and the value of the dinar will rise

Zora / Duraid Salman

Suggested the parliamentary Economic Committee low gold prices in the Iraqi market and the high value of the Iraqi dinar against the dollar and world currencies after the resort's central bank to buy tons of gold bullion pure With praised the move, said it will boost the national economy and raise confidence in dinars.

Said the decision of the parliamentary Economic Committee Mahma Khalil In a press statement for (Zora) yesterday: The price of gold in Iraq will fall for several reasons, most notably the resort's central bank to buy gold bullion from international origins, pointing out that "this action is commendable, he will enhance the value of the national currency and central bank policy and to preserve the value of the in front of the dinar currency and precious metals, which means lower prices for gold in the future.

Khalil and demanded the central bank to "buy more and more gold bullion to stabilize the dinar," and considered it "a step will provide a solid ground for the national economy and a solid currency respected internationally."

He explained that the purchase of more than thirty tons of gold indicate the presence of cover financial discreet and diverse balance of the sovereign Iraqi, indicating that the precious metals lead to greater respect for the reputation of the Iraqi dinar globally, and higher reserves Iraq of gold will drop prices in the local market, and thus increase the value of the dinar.

He pointed out that the sovereign balance a lot of promising areas of investment, including real estate, precious metals and a basket of currencies, it exceeded the threshold of 76 billion dollars.


http://www.alzawraanews.com/index.php?option=com_content&view=article&id=29970:2014-04-02-20-31-25&catid=1:2013-02-17-17-25-32&Itemid=3