Gold Price Qatar
Qatar is known officially as the State of Qatar. The nation shares its only land border with Saudi Arabia to the south, and the rest of the country is bordered by the Persian Gulf. The government of the nation consist of a unitary constitutional monarchy and it has a population of approximately 2,600,000. The official language of Qatar is Arabic, and the nation’s capital is the city of Doha.
The official currency of Qatar is the Qatari Riyal. The currency can be subdivided into 100 smaller units of currency known as dirhams. Qatar used the Indian Rupee until 1966, in the form of Gulf Rupees. India decided to devalue the rupee in 1966, and at that time Qatar and other countries that used the rupee decided to introduce their own currencies. Qatar used the Saudi Riyal for a period of time before introducing the Qatar and Dubai Riyal. In 1973, Qatar began issuing the Qatar Riyal separate from the Dubai Riyal.
Originally established as the Qatar Monetary Agency, the Qatar Central Bank was founded in 1973. The nation’s central bank has several key responsibilities in addition to the issuance and control of the country’s currency. The central bank is also tasked with maintaining monetary stability, overseeing the financial system, maintenance of the currency’s exchange rate and more.
If you are looking to buy gold in Qatar or simply want to see current prices, you will see live gold prices quoted in the local currency. Prices may also be available in other global currencies such as U.S. Dollars, Japanese Yen, Great British Pounds or euros. Gold is typically quoted by the ounce, gram or kilo, but may also be quoted in other various local units of measure.
The Qatar economy is one of the world’s wealthiest based on GDP per capita. Both petroleum and natural gas are the backbone of Qatar’s economy, and account for nearly three quarters of total government revenue and more than 60 percent of the nation’s GDP. The country has some of the largest natural gas reserves in the world and is one of the top exporters of the commodity. Other main areas of industry that the nation is involved in include ammonia, cement, ship repair, fertilizer, crude oil and petrochemicals. The nation’s main export partners include South Korea, India, Japan, Singapore, China and The United Arab Emirates.
Gold is available in multiple forms for investment purposes including bullion bars, coins and even jewelry. For those looking to acquire a significant amount of gold, bullion bars may potentially offer the best overall value. Bars tend to carry the lowest overall premiums, making them relatively less expensive on an ounce-for-ounce basis. Bars can also be stacked and stored in a safe, bank safe deposit box or in a depository.
Bullion coins can also be a great choice, and are considered good, legal tender by the issuing government mint. Coins tend to have more detail than bars, and therefore may be more expensive for mints to produce. This can lead to significantly higher premiums when compared to bullion bars. Coins are also easily stored and like bars can be purchased in bulk.