Published on Sunday, August 28, 2011
Gold price hits new record on local market



Latest News

The price of gold has hit a new record of KD 16, 700 per kilo on Kuwait market, a specialized economic report pointed out Sunday.
The report, issued by Al-Zomoroda group, said the record price is a natural reflection of great jumps in price on a global scale.
It noted that an ounce of gold sold for USD 1,911 on Tuesday. The gold price has grown 35 percent in 2011.
The decline of prices at the end of the week tradings to USD 1,720 per ounce after the record hikes in the recent weeks, the report said.
The report showed that the price of gold hit its lowest level in the week last Thursday settling at USD 1,706 per ounce, down more than USD 200 for Tuesday's price level due to profit-generating actions, but it restored its upward trend soon to close the week at USD 1,830 per ounce.
The report forecasts more price rises in the coming days to achieve new levels by the end of the year.
As for silver, the report said it also took upward and downward trends during the week but ended up USD 2 to 41.3 per ounce.
The high prices have taken gold sales on local market to its lowest level, the report revealed.
It also disclosed that sales of bullion surpassed the sales golden jewellary in an unprecedented phenomenon on the local market.
The price of a gram of 21-carat gold standing at KD 14.5, while a gram of 18-carat gold amounted to KD 12.5.
Express your comment on this article


Name  
Email    
Comment
characters remaining  
Human Verification Code Type the Numbers you see in the picture below.


Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.
IIK Special...
Image
The Mega Rupee Strength!
During the last 15 months, Euro fell by nearly 25%, Brazilian Real by 30%, Russian Ruble by 50% a...

Image
“I want to give back much more to this world” - Aishwarya Rai Bachchan
An exclusive one-to-one Interview with Aishwarya Rai Bachchan first on IIK ...

Image
Will Budget Bring So Called “ Achche Din”?
Few days back there was interview of veteran financial expert & banker Mr. Deepak Parekh. In which ...

Image
Lawrence D’Souza – the service minded business man
The highest medal that can be awarded to the laity and the religious by the Pope, Pro Ecclesia et P...

12345678910...
IIK Dine Out...
Image
Samrat – the newly opened Indian restaurant in Abu Halifa
The weather is getting more pleasant, and there’s always fun at a nice family dine out in an exotic...

Image
Culinary Journey to the land of Maharajas - at Salmiya Holiday Inn Jamawar Indian Restaurant
Indian Cuisine has always fascinated people all over the world. Imagine dinning in a royal atmosphe...

Image
Authentic Italian Dinning at Vapiano
Italian Cuisine has always been a Gourmet’s delight. Pizzas and Pastas have become the main dishes ...

Image
A ‘Taste of plenty’ at Curry Leaves
There’s really nothing we enjoy better than a grand cuisine, especially when it’s been done right. ...

IIK Sports...
Image
Fahaheel Brothers lifts ‘Soccer Mania 2015’ cup organized by Young Shooters Abbassiya.
On a warm windy evening of Friday 17th April 2015 Team Fahaheel Brothers lifts ‘Soccer Mania 2015’...

Image
The IVAK embarks conducting second Jimmy George Memorial Volleyball tournment
The IVAK embarks once again to host the second Jimmy George Memorial Volleyball tournment with an a...

Image
IBA Kuwait organised Basketball tournament
The world of basketball returned with the Indian Basketball Association organising its third IBA ba...

What's On...
Apr
28
Image
TIES center conducting an event "Nubian Architecture"
May
1
Image
Kuwait Kerala tug o war association conducting 2nd tug o war matches on May 1st 2015
May
1
Image
Maharashtra Mandal to celebrate Maharashtra Day on 1st May 2015
May
1
Image
Tulu Koota Kuwait set to stage Rasamanjari 2015
May
1
Image
KALA Balakalamela-2015 on May 1st
May
1
Image
Mudra Nritha Vidyalay presents Nrithanjali 2015
May
1
Image
Countdown begins for Rasamanjari 2015 Organizing by Tulu Koota
May
1
Image
2nd annual celebration of Mappila Kala Vedi Kuwait on May 1st
May
1
Image
Thirumudra Natya Kalakshetram presents NATYAM 2015...A classical indian dance evening.
May
2
Image
TIES center conducting an event "First Aid and CPR"
May
3
Image
Dar Al Athar Islamiyyah to host Indian Night at Amricani Center
May
8
Image
IIK Property Show 2015 in Kuwait presents best investment opportunity across India for NRIs
May
8
Image
Kala(Art) Kuwait “Keraleeyam 2015, on Friday, 8th May 2015
May
14
Image
Bharatheeya Sangeetha Sabha (BASS) presents DEVAMRUTHAM 2015 – Mega Musical Night.
May
15
Image
Kuwait Tamil Sangam’s annual event “ Pon Maalai Pozhuthu “
May
15
Image
Entries Invited from students for Dinkar Poetry Awards by Maurya Kala Parisar
May
16
Image
NAFO brings yet another mega show “ANTARAM” on 16 May 2015
May
16
Image
Sudha Chandran to Judge “Classical Dance Competition” organized by The Dancing Divas
May
22
Image
Indian Cultural Society presents “Jhalak with Remo Dsouza” on Friday 22nd May 2015
May
29
Image
Goan Konkani film Nachom-ia Kumpasar ('Let's dance to the rhythm')
Sep
22
Image
IVAK - second Jimmy George Memorial Volleyball tournament 2015
Dec
4
Image
SPARSH presents a Talent Show with a Difference for Indians living in Kuwait
Its your portal, its your platform, so get involved.




NEWS
WHATS'ON
ASSOCIATION NEWS
EDUCATION
IIK TECH
IIK SPORTS
LIFE STYLE
YATRA
DINE-OUT
AUTOMOBILE
IIK YOUNG REPORTER
CLASSIFIEDS
FORUM
GREETINGS
GALLERY
ENTERTAINMENT
PLACES IN KUWAIT
CONTACT US