News of the Bank

Price for gold will increase on 16%

As a result of unfavorable rates of economical development of mortgage market in USA and reducing of oil production — price for gold is increasing.

"World price for gold, till the end of this year, will increase by $700,00-$720,00 per troy ounce. The increase is expected by beginning of September as at this time active biddings at world market start that will result in increase of supply and demand for this metal, — comments Semen Babayev, Head of bank metals department. — For today price for bank gold is bargained in average $665,00 — $667,00 per troy ounce. Such situation resulted due to less active trading of bank metals during summer season."

As for another metals, for example silver and platinum, one should note that silver parodies gold rate. At this time silver is bargained in the range of $12,95 -$13,05 per troy ounce and on the term that gold will reach the mark 700, silver can safely reach the mark $15, i.e. price for silver will also be high, trend will be repeated with trend for gold. As for platinum one can say that this metal is more calm because capital investments and also speculative trading with platinum are the most capital-intensive. For example, if now troy ounce of gold costs 665 dollars and troy ounce of platinum — about 1200, then if gold grows by $700,00 (16%), platinum can grow not more than on 5-8%».