Financial news

Futures quotations on gold exceeded mark in $990 per troy ounce

As of 7 March situation at precious metals market was characterized by quotations decrease. Today during morning trade session in Asia gold was traded at the level $982,00-$982,10 per ounce. While opening New-York commodity exchange gold on bids was at the level $982,00, then slightly increased. 6 March on commodity exchange in New-York closure was fixed on the mark $973,90 per ounce.  

Futures quotations on gold exceeded mark in $990,00 per ounce for the fourth session in succession, as traders expect that prices on gold for the first time in history can reach $1 000 per ounce. Nevertheless, attempt to reach this level failed again and price on gold in the first half of session decreased to 966,50. Futures quotations on gold in accordance with results of bids at COMEX decreased on $11,40, by $977,10. Futures quotations on silver decreased on 56 cents, by $20,225, after the highest mark — $21,325 was reached at the world session.

London morning fixing 7 March constituted $978,50 per ounce, when rate of National Bank of Ukraine was set on the mark $986,25 per ounce.

Comments by Roman Valesyuk, Senior Vice-Chairman of the Board of PRAVEX-BANK on precious metals market. 7 March, 2008.

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