Financial news

Quotations at precious metals market keeps growing without cessation

As of 21 February situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $940,00-$944,00 per ounce. While opening New-York commodity exchange gold on bids was at the level $942,70, then it increased a little bit.

20 February at commodity exchange in New-York closure was fixed on the mark $944,00 per ounce.

Quotations of futures on gold and silver in accordance with session on Wednesday increased after decrease at the beginning of bids. Prices increase on oil more than USD 100 per barrel, and also inflation apprehensions strengthening after data issue on inflation in the USA caused support for gold and silver markets. Silver futures reached record maximum due to purchases at technical factors. Gold futures in accordance with bids results at СОМЕХ increased in price on USD 8, by USD 937,80 per ounce. Silver futures increased on 25,2 cents, by USD 17,76. During session futures reached record level for contract with nearest execution term on the mark USD 17,79. Ability of gold futures to be kept higher than USD 930 is positive signal and can stipulate growth by USD.

London morning fixing 21 February constituted $943,00 per ounce, when rate of National Bank of Ukraine was fixed on the mark $924,85 per ounce.

Comments of Roman Valesyuk, Senior Vice-Chairman of the Board of JSCB "PRAVEX-BANK" on precious metals market. 21 February, 2008.

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