Gold price hits new record high

FOREX GOLD INDEX(PM FIX) $/OZContinue reading the main story

The price of gold hit a record high on Tuesday, with analysts giving a number of reasons for its rise.

Both the price of the actual metal and the price for buying it at a future date rose more than 2% to $1,274.75 an ounce.

It was the biggest one-day gain for the commodity in four months.

One of the factors spurring investors is gold's traditional role as a so-called "safe-haven" investment at times of economic uncertainty.

On the physical market, demand for both bullion and jewellery has risen ahead of the seasonal Indian wedding period and the Hindu religious festivals that begin in September

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Umar Ibrahim Vadillo - Interview - Gold Dinar

IslamicEconomy | April 09, 2010 - Umar Ibrahim vadillo is one of the most outstanding and well-known proponents of the Gold Dinar Movement within the muslim world. He is the author of the ground breaking book "Return of the Gold Dinar" and has been involved in numerous initiatives across the globe to revive the gold dinar. In this interview, he higlights the importance of giving zakat in gold and why gold currency is mandatory requirement of shariah.

Islamic gold dinar gains ground

 Sat Sept 4, 2010 - KUALA LUMPUR: Malaysians are embracing gold dinars which were introduced last month by Kelantan to promote usage of Islamic currency as an alternative to paper money, an official said today. 

The gold coins and silver dirhams were introduced in early August by PAS to coincide with the start of the Muslim holy fasting month of Ramadan.

Umar Ibrahim Vadillo, chief executive officer with Kelantan Golden Trade, said the first batch of gold and silver coins worth RM2 million had been sold out in less than a month.

"There is enormous response in Malaysia. Their reaction is unbelievable," he told reporters.

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