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2008

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Futures on gold overcame $ 1 000 level

As of March 14, situation at precious metals market was characterized by quotations decrease. Gold was traded at $994,20-$995,00 level per ounce today at morning trade session in Asia. New York commodity exchange opened with gold trade at $994,00 level, afterwards it increased in some extent.  New York commodity exchange closure was fixed at $995,10 figure per ounce on March 13.

On Thursday futures on gold won $ 1 000 level against the background of continued US dollar decrease. According to COMEX bids results, futures on gold rose in price by $13,30 — up to $993,80 per Troy ounce. There are still favorable conditions for gold market: the expectation of further US percent rates decrease as well as inflation fears urge investors to buy gold as asset-refuge. And silver was growing in price even quicker than gold price did, as the former costs far more less.  Quotations for silver futures  according to bids results increased by 42,5 cents — up to $20,42 per ounce.

London morning fixing on March 14 constituted $997,00 per ounce, while National Bank of Ukraine rate was established at $988,25  mark per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board. March 14, 2008.

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News thrue march
2008

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