24 hours international gold price to understand gold Dinar price trend
Current Gold & Silver Price to Calculate Dinar and Dirham Price
Login iQirad from GeraiDinar BAHASA VERSION

Islamic Dinar : 4.25 grams 22 K Gold

Dirham Islam : 2.975 grams Pure Silver
Harga Dinar Sebulan Terakhir - Gold Dinar Price in the Last 30 days 30 Days Dinar to Rupiah Exchange Rate Trend
Harga Dinar Islam 2 Bulan Terakhir - The Last 60 days gold Dinar Price 60 Days Dinar to Rupiah Exchange Rate Trend

Tuesday, March 25, 2008

Oil Price Probably Will Still Decline….

In my previous article, amongst others the one dated 9 March 2008, I presented the tight correlation between the volatility of the gold price with the volatility of main commodity prices, especially oil.

In a few days, the oil price will most likely still decline – so will gold price. The triggers of the oil price decline amongst others are:

1) United States of America, the world’s largest energy consumer nation, is having a decline in economic growth, so its energy consumption is also declining. Last weeks report shows the consumption level for the last four weeks dropped 3.2% compared to the same period last year.
2) USA oil inventory is at its all time high, just for this year it is predicted that they have increased their inventory by 1.5 million barrel to around 311.8 million barrel.
3) Statement from King Abdullah – Saudi Arabia last Sunday that Saudi Arabia will cooperate with the OPEC nations and even other oil producing nations outside of OPEC to guarantee the availability of global oil in an effort to avoid destructive speculation. This statement was said by King Abdullah one day after the visit from the USA vice President, Dick Cheney.

For all of us, the decline of oil price is good because the price of daily necessities goods is affected by the oil price. So we hope that it will continue to reduce our cost of living.

For the spreading of Dinar is also good because Dinar is now more affordable; I see an increase of Dinar purchases in this few days since the significant price decline.

Temporarily, those who purchased the Dinar at the high price, especially the last two weeks will feel they are in a “loss”; but InsyaAllah, you don’t have to worry because you can see that the gold price chart for the last year, last decade, or even the last forty years, have an upward trend.

So the decline of oil price and gold price is temporary, can be one – two weeks, one - two months, but then the oil price will rise again following its main upward trend.

So is with gold, the temporary decline can be taken advantage to optimize the spreading of Dinar in the society – before the gold price return to its main upward trend in a long period. Wallahu A’lam.

Labels: , ,


Post a Comment

<< Home