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DailyFX Currency Update

Platinum hits $2,000
Platinum soared to record high above $2,000 an ounce on Thursday as supply concerns lingered in South Africa, the world's main producer, reported Reuters. Spot platinum jumped to as high as $2,002 an ounce, up from $1,985/1,995 late in New York on Wednesday.
Thursday, February 14 - 2008 at 11:54 |

Equity touted as best investment
Equity markets will present a better investment opportunity compared to global sovereign debt in the short to medium term, according to a top executive at Citi Global Wealth Management. Jeffrey Applegate, CGWM's CEO, said global sovereign debt is 'the least attractive asset' due to the declining long-term rates throughout the world. However, he said better opportunities exist in more credit sensitive sectors, especially after the aggressive cuts introduced by the US Federal Reserve.
Thursday, February 14 - 2008 at 10:18

Gold may hit $1000 in 2008
Golf may hit $1000 an ounce in 2008 due to inflation fears, global tensions and a further weakening of the dollar, reported Khaleej Times, citing leading global metals and commodity analysts. The analysts said the market is in a corrective phase at the moment, and will be volatile for the short term. However, over the long term, the the market is expected to find a level where support from physical demand will encourage investors to re-enter the market.
Thursday, February 14 - 2008 at 07:22

Tanmia extends support to Tawdheef 2008
Tanmia, the National Human Resource Development and Employment Authority, has announced that it is currently participating in 'Tawdheef 2008', the second Abu Dhabi Recruitment Show, being held from February 12 to 14 at the Abu Dhabi National Exhibition Centre. The three-day event features seminars, exhibits and networking opportunities for UAE Nationals to interact directly with employers, recruiters and managers from several of the region's leading companies.
United Arab Emirates: Wednesday, February 13 - 2008 at 09:44

Middle East stocks to 'outperform' this year
A new report by UBS AG said Middle Eastern stock markets will 'outperform' this year as the region's economies benefit from high oil prices and a recent correction, reported Bloomberg. Equities in the UAE, Egypt and other regional markets will 'continue to offer one of the more attractive opportunities to foreign investors in 2008,' helped by 'attractive valuations,' economic growth fuelled by high oil prices, and a 'low' correlation with global markets, the report said.
Tuesday, February 12 - 2008 at 07:26 |

Gold jewellers posts 58% increase in sales
Pure Gold Jewellers, one of the region's leading jewellers, announced their annual profits have increased by double digit.As the year came to an end, company executives say that they have entered the New Year with great confidence. According to experts, the most significant growth rate this year was in the diamond jewellery. Firoz Merchant, Founder and Chairman of Pure Gold Jewellers said 'We are well on target toward our goal of operating 100 stores by 2010, reaching our planned 60 stores this past year. We also launched new multiple stores in Kuwait last year.' Pure Gold Jewellers has disclosed its plan to initiate major projects in the UAE by the year's end. The jewellers have planned to open a luxury sunglasses boutique under the name 'La Moda,' which will open its 1st store in the new luxury five-star Westin Hotel in the UAE beginning in March.
Middle East: Monday, February 11 - 2008 at 09:07

Abu Dhabi gold recovering
Abu Dhabi's gold sales, hit by last year's record prices, are slowly recovering as buyers adjust to current high prices, the Gulf emirate's Gold and Jewelry Group chairman said, reported Reuters. The market recovered in January and was unchanged compared to the same period in 2007. Prices have hit several peaks last year hitting gold sales in Abu Dhabi. Sales fell 25 percent in volume and 30 percent in value. A surge in oil prices boosted gold's appeal as a hedge against inflation. In 2007, gold sales for jewelry and investment in the UAE, a seven-member federation that also includes Dubai, rose almost 12 percent in volume and 20 percent in value from the year before as tourism grew, the World Gold Council has said.
United Arab Emirates: Sunday, February 10 - 2008 at 09:31 |

Trading surges 95% in DGCX
Dubai Gold and Commodities Exchange has recorded trading volumes surging by 95% in January 2008. The total value of contracts traded were noted at just over $4.3bn, up 130% year-on-year from $1.9bn.
United Arab Emirates: Saturday, February 09 - 2008 at 16:59