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2008

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Correction renewed on gold futures

As of March 31, situation at precious metals market was characterized by quotations decrease. Today at morning trade session in Asia, gold was traded at $933.00-$935.00 level per ounce. At New York commodity exchange opening, gold at bids was at $934.60 level, afterwards it increased somewhat its position. On March 28, New York commodity exchange closure was fixed at $930.90 figure per ounce.

Correction of gold futures renewed on Friday. Gold futures according to bids results at COMEX fell in price by $17.50 — to $936.50 per Troy ounce. Gold price decrease was caused by profit fixation at the end of the month and quarter. Silver futures fell in price against the background of speculative selling. When gold price drops sharply, the same situation can be expected at silver market. Silver futures fell in price by 61 cents — to $17.94 per ounce.

London morning fixing, on March 31, constituted $937.25 per ounce, while National Bank of Ukraine rate was established at $944.50 mark per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board. March 31, 2008.

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News thrue march
2008

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