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The role of the Muslim trader in terms of the historical spread of Islam has often been overlooked. Yet the sophisticated rules of Islamic trade, commerce and money actually contain all the answers to so many of the problems facing not just Muslims but all members of British society today.
In this truly unique event you will learn how to truly put Islamic financial practices in place as well as hearing from some of the UK's top Muslim entrepreneurs the secrets of their success.
With a lineup of scholars, practitioners, entrepreneurs and entertainers this is an event not to be missed.
DATE: Sunday 1st July
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2:00 - 2:30 Registration & Welcoming Address
Why did the silver price drop so drastically?
This question of the drop in the silver price has been a persistent one I have dealt with over the last few months. In the main my advice has been to take advantage of what is a temporary situation and invest heavily in silver.
One thing that is absolute clear is that the demand for both physical gold and silver has continued to rise significantly. A lot of this is due to an increasingly unstable economic climate worldwide. Here in the UK it is evident that many first time investors have also added to the demand. We continue to say that gold is more of a “hedge against inflation” rather than an “investment,” but the truth is it continues to out-perform other traditional investments such as stocks, shares and ISAs.
Unfortunately it is the same speculators that have caused the current financial crisis who are now speculating huge amounts of money on silver that has forced the price down. The price is driven down in order to discourage investors from demanding delivery of their physical silver, which the speculators didn’t really buy in the first place.
Download Issue 06 of Ayn Gold News CONTENTS Where does Our Gold Come From? What to expect in 2012? "SPECIAL OFFER" £50 off your next purchase
Download Issue No.05 of Ayn Gold News CONTENTS History of the Silver Dirham The Greek Money Crisis "Ramadan Mubarak"
Download issue 4 of Ayn Gold news CONTENTS Moving Towards a New Silver Currency The Case for the Silver Dirham Buying Guide: Bars or Coins
INSIDE The Biq Question: Gold or Silver Ayn Gold's Buy Back Policy LINKS Max Keisers's call for everyone to buy silver. A Guide to Personal Banking - Islamic Style
It’s strange to already be thinking of 2010 as last year.
However, “last year” I decided to make an honest comparison of gold and silver as investments by comparing them with popular shares.
Admittedly my reason for choosing these particular shares was very unscientific and the accuracy could also be suspect as I relied on information from Google Shares website. I chose:
British Airways (BA) being a high profile very respected and flagship British Company (2,809 shares);
I based the study on what £10,000 would have bought on the 4th April 2000 (my birthday), and then what those same shares were worth on the same date in 2005 and then again in 2010.
Like BA, Barclays shares had also dropped (to around £9,000). Aviva fared even worse with their £10,000 investment now worth only slightly over £4,000, a drop of around 60%.
Last month I was pleased to finally be able to attend the World Money Fair (WMF) in Berlin. It’s a show that highlights what’s new in the refining, minting and numismatic industries. From new mining techniques, security issues and of course the “Coin of the Year” awards.
I was particularly impressed with the hologram technologies being used by the Polish and Khazakstani Mints in particular. These are not only used for security and identification purposes but also for some stunningly beautiful effects. In fact talking of beauty, the Gold Coin of the Year Award went to the South African minted 1 oz Gold Rhino coin (see pic), while the Most Popular award went to a 10 euro Silver coin from the Basilisk of Vienna, featuring a legendary monstrous creature that was part snake, part toad and part cockerel.
What this really signifies, and what the show confirmed, is that there continues to be an absolutely huge demand for both bullion and artistic coins from both within the UK and around the world.
This deal also means that once we exhaust our current supplies we will no longer be stocking silver bullion bars of below 100 grams. However we will continue to order them in, if specifically requested by any client.
Let us first take a look at gold which for thousands of years has been a source of desire for mankind for it’s practical uses, its beauty and it’s scarcity. As pointed out in a previous article gold is, and has always been, the most logical and practical currency ever used in the world and looks certain to resume that position at some point in the not to distant future.
Both gold and silver are commonly sold at a premium above spot price (set twice a day in London). The premium is normally a percentage but can also be quoted in monetary terms. Bars normally carry a lower premium than coins, while coins normally carry a lower premium than jewellery. Also the bigger the bullion bar the lower the premium.
Many of the arguments put forward for buying silver centre around the documented link between the prices of gold and silver.
Historically over many centuries the ratio has been 16:1 (16 oz silver cost the same as 1 oz gold). We also know from the traditional position on Zakat that around 1400 years ago in the time of the prophet Muhammad (peace be upon him) the gold dinar to silver dirham value ratio was 10:1 meaning a gold/silver ratio of about 14:1